You enter into an agreement over
a fixed period at a fixed instalment. Upon payment of the
final instalment the vehicle becomes yours. A balloon payment
can be incorporated as can low deposits.
The Benefits of Hire Purchase:
An alternative funding line to bank overdrafts.
Ownership at the end of the contract
Low initial outlay
Flexible contract
Interest reclaimable against tax
Writing down allowance
Balloon Payment
Fixed monthly cost
Business capital not tied up in a depreciating asset
Road fund licence included for the full contract length
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