Own your Asset and improve your Cashflow
Hire Purchase, also know as Lease Purchase is a straightforward repayment facility where you ultimately own the asset. Repayments can be structured in a flexible way using initial payments and/or a ‘balloon’ (final lump sum).
KEY FEATURES & BENEFITS
• With ownership you have total control over the asset.
• Ownership normally carries the potential for claiming writing down allowances
and or capital grants, including any enhanced first year allowances.
• VAT on the cost of the asset is normally reclaimable*.
• Fixed or variable interest rate – you make your own assessment and choose accordingly.
• The interest element of repayments can normally be offset against taxable profit*.
• The asset appears on your balance sheet.
* Special rules apply to cars.