The most popular and flexible way to finance your new van.
Hire Purchase is a loan secured against the van. You agree on a repayment period, normally 12-60 months, with payments paid back monthly. At the end of the agreement, you take the full title of the vehicle after the small option to purchase payment has been made.
You pay a small deposit (normally 10%) along with the full VAT.
Benefits of Hire Purchase
Available on NEW and USED vans
Flexible Duration
Flexible Deposits
Option of VAT deferral of up to three months - (subject to conditions)
You own the vehicle at the end of the agreement - (subject to an option to purchase fee being paid). The vehicle sits on the Balance Sheet of your accounts.
Tax advantage of the 100% tax allowances, helping to reduce your corporation tax bill.
Option to have a 'balloon payment'. This is a deferred payment, agreed upon by the finance company at the beginning of the Agreement. This final lump sum is paid by you at the end of the agreement. This is ideal, should you wish to keep payments low and make a larger payment at the end - (subject to conditions being met on age, mileage etc)