Hire Purchase (HP) enables your organisation to take ownership of a vehicle or other asset without having to pay the total cost up-front. Sinclair Finance & Leasing fund around £20m of assets on HP, including new and used cars, vans, trucks, buses, coaches, and construction plant via this traditional and popular finance method.

Following an initial deposit, you make fixed monthly payments over an agreed period, either:

Paying the full cost plus interest charges, or

With a Balloon: make lower monthly payments during the finance term, plus a final balloon payment; (this is sometimes known as “Lease Purchase”).

At the end of the agreement, you pay a nominal “Option to Purchase” fee to take ownership of the vehicle.

Benefits of Hire Purchase

Accurate budgeting

Minimum capital expenditure – invest in your business, not depreciating vehicles or assets

Improved cashflow

Fixed interest rates

Capital Allowances are offset against taxable income for corporation tax

No VAT on monthly Finance repayments (though we do not recover VAT on vehicles)

No mileage or usage restrictions: your organisation takes these risks (though if a Balloon is set it needs to be realistic)

Also available on plant & equipment, heavy commercial vehicles, trailers, bus & coach and other assets.Text here ...

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