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"Finance7 provided an invaluable service at a very difficult time. They presented the options in a clear and thorough manner and ensured the best outcome possible. I can highly recommend them"

Director of Merricks Media Ltd

Hire Purchase or HP (also known as Contract Purchase), allows you to spread the cost of purchasing new and used assets over an extended period, usually between 1-6 years

Typically you will source the asset directly from the supplier and, through Finance 7, arrange an HP facility with one of our panel of funders

There will be an initial deposit required, paid to the supplier or funder, along with payment of the VAT

The supplier invoices the funder who settles the invoice once the paperwork has been signed

Rentals are then paid monthly or quarterly, and at the end of the agreement the asset becomes yours

Hire purchase is a straightforward, well used finance facility that is also simple and quick to arrange

For accounting purposes the asset is classed as being owned by your business

Assets suitable for funding on Hire Purchase

• Cars
• Commercial Vehicles
• Yellow Plant (diggers, dump trucks, etc)
• Machinery
• Computer hardware

So Hire Purchase gives you

• Ability to source the asset from your preferred supplier
• High levels of funding
• Flexibility
• Spread the cost of acquiring new assets over their useful life
• Finance secured on the asset, normally removing the need for additional security

 

What next? To be one step closer to getting the finance you need

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Ring us on 0330 999 3 777 to arrange a free consultation