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Hire Purchase

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Under a hire purchase agreement, your business can acquire an asset by paying an initial instalment, for example 30% of the total price, and repay the remaining balance as agreed monthly instalments to cover the full purchase cost. You can obtain ownership of the goods once the full amount of the contract is paid. Usually you will pay the VAT upfront.

 

Hire purchase enables your business to acquire large assets by using a manageable and transparent payment plan reducing the risk of unwanted financial surprises. 

Call our team - 01753 434362
Email our team here

SFS offers competitive and flexible hire purchase agreements

Our expertise helps us to understand your financing needs

Our market-specific teams have an in-depth knowledge of both financing and equipment within each sector and will be able to advise on the best financial product to suit your business needs.

Benefits of finance

  • Option to own asset on your balance sheet
  • Spread the cost of purchase over time
  • Benefit from flexible deposits and fixed payments
  • Option to buy asset outright when agreement ends
  • Claim writing-down allowances and capital grants in most cases

Overview of our process

We advise on the most appropriate form of funding and provide finance options.  We then confirm pricing once the equipment has been specified by you and capital price has been confirmed.

In order to ensure you have the cash flow required to afford the payments, we typically require your financial accounts for the last 3 years and supporting information about the nature of your business.

Once a credit facility has been approved, you are then required to sign and return the documentation to us.  For leases, a purchase order is then placed for the equipment and it is delivered or installed by the supplier. For loans, the funds are transferred directly to your bank account.

Once a credit facility has been approved, you are then required to sign and return the documentation to us.  For leases, a purchase order is then placed for the equipment and it is delivered or installed by the supplier. For loans, the funds are transferred directly to your bank account.

Hire purchase case studies

Businesses who have benefited from hire purchase agreements to support their finance needs

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Get in touch about hire purchase

Would you like to know more?

Our team is always available to answer your questions, please contact us for further information

Contact our team - 01753 434362
Email our team here