Hire Purchase

Hire Purchase will allow you to acquire an asset while paying for it in installments over an agreed timescale – the term. At the end of the term, there is option to purchase the asset outright.

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When it comes to commercial vehicle finance, company cars or equipment and machinery, we have the solution.

Hire Purchase will allow you to acquire an asset while paying for it in instalments over an agreed timescale – the term. At the end of the term, you have the option to purchase the asset outright.

Tailored finance solutions

We will help you acquire the item you need to move your business forward with ownership and at a reduced cost to the business. You can utilise the asset to generate income without the large capital outlay.

Flexible products which allows you to free up working capital

Increase your capital expenditure without affecting your company on day-to-day basis

Flexibility & excellent Service Delivery

Our office-based experts will source the best solution for you to match your needs

Hire Purchase

Hire Purchase will allow you to acquire an asset while paying for it in instalments over an agreed period. At the end of the term, you have the option to purchase the asset outright. Below, you will find a few of the benefits of Hire Purchase:

  • Spread the cost – Hire Purchase allows you to pay back over the life of the asset, as opposed to a large upfront cost.
  • Keep control – You are the owner of the asset for tax purposes and can normally claim capital allowances.
  • Tax efficient – You can offset your hire purchase interest and charges against pre-tax profits.

How Hire Purchase Works:

Step 1: You choose the asset you want to purchase

Step 2: You make an initial deposit (usually a minimum of 5%) – Dependent on customer credit status & funder acceptance. VAT deferrals can also be accommodated

Step 3: You agree to make monthly payments for a fixed period, typically between 12 to 60 months

Step 4: At the end of the agreement, you own the goods or services outright after paying the final instalment

“We have used Shire Asset Finance for several purchases and Jemma has always been professional and a pleasure to deal with. She has always managed to put in place competitive facilities quickly and we look forward to dealing with Jemma and Shire Asset Finance for any future purchases.”

Mark

“During the period that we have dealt with Shire Asset Finance in respect of acquiring items of plant, I, and other members of the team have found Kerry to be polite in manner, efficient in helping with setting up the initial Agreements and also dealing with queries, both foreseen and unforeseen”

Rob & Alex

Award-winning broker

30+ years of experience

Flexible finance solutions

Friendly & knowledgeable team

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Supporting your business by acquiring the assets you need today

  • Takes less than 2 minutes
  • Fast & Efficient Processing
  • Personal Account Manager