Hire Purchase

 

Unwilling to spend a large amount of capital on an asset in one go? Our hire purchase facility means you can pay for it in manageable installments, spread over a period of time.

A convenient way to buy - with Hire Purchase

Hire purchase is a simple, well-established way to finance the acquisition of equipment and machinery for your business. You pay an initial deposit, and then the balance and interest through regular installments.

We buy the asset on your behalf and own it until you have made the final payment, when ownership transfers to you.

Quick guide to Hire Purchase

Key highlights

  • Total control - you own the asset at the end of the agreement
  • Simple, regular repayments - for easy budgeting
  • Choice - you can decide on fixed or variable interest options
  • Tax advantages - as well as reclaiming VAT, you may be able to claim capital allowances and also offset repayment interest against profits (special rules apply to cars)
  • Flexibility - you choose how the finance is structured: with a flexible deposit, fixed payments and perhaps a balloon final lump sum.

 Assets you can typically acquire with hire purchase

  • Cars
  • Commercial vehicles
  • HGVs
  • Buses and coaches
  • Plant and machinery
  • Agricultural equipment
  • Construction equipment
  • Materials handling equipment
  • IT equipment.

 

To apply for asset financing, or to find out how it can help your business grow, contact our expert team on 0333 321 4000 or email BusinessLendingDirect@aldermore.co.uk.

Get in touch

Call us on

0333 321 4000

* Standard call rates incl. mobiles Call Charge Information Worried about cost? 03 numbers are at standard call rates and included in most mobile and landline operators inclusive minute packages

Contact us today to find out how we can help your business succeed

Apply Now

Enquire now

Quality insurance cover

Available now from Simply Business for Business and Landlord Insurance. Build a tailored policy to suit you.

Get a quote in minutes

Award Winning BankingBusiness Moneyfacts awards 2014 - best business fixed account provider

We’re delighted to have won this year’s award for Best Business Fixed Account Provider.

View Awards

Business Savings Accounts

Open an account in just 15 minutes. Easy to manage online.

Find out more