Hire Purchase
A Hire Purchase agreement makes it easier for a business to budget by spreading the cost of an asset over an agreed term, meaning they don't need to pay everything upfront.
Additionally, the business takes title to the asset upon paying a small fee at the end of the term.
At InterBay Asset Finance, we’re experts at structuring deals to meet the differing needs of SMEs and corporate entities.
Key benefits of Hire Purchase agreements
Spread the cost - Spread the cost over an agreed term to assist with monthly cash flow
Seasonal repayments - Structured profiles available to take into account seasonal fluctuations in cash flow
Tax efficient funding - Offset your hire purchase interest and charges against pre-tax profits
Ownership - Own the asset at the end of the agreed term and claim capital allowances (in the majority of cases)
Our repayment options
VAT deferral
Delay paying VAT for up to four months.
Seasonal payments
Schedule payments to match cash flow seasonality.
Escalating profiles
Increase payments over time to match business productivity and growth.
Low or zero deposits
We can offer agreements with little or no deposit.
Balloon payments
Pay a lump sum at the end of the agreement to reflect the anticipated future value of the asset.
Why choose InterBay Asset Finance?
Our asset finance team has the experience and expertise to support Hire Purchase, Leasing and Refinancing requirements, helping businesses grow, develop and reach their true potential.
With over 150 years of combined asset-based lending experience, our team will take the time to understand your individual requirements and find the most appropriate solution possible.
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Service — Provide outstanding customer support, with efficient turnaround times so our brokers trust us to get their deals over the line.
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Flexibility — We understand that every business is unique, so we tailor our solutions and remain flexible in our approach.
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Relationships — We work to create strong relationships built on trust, knowledge and expertise.
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