Commercial Hire Purchases
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Interested in Commercial Hire Purchasing?
A commercial hire purchase is a finance product in which the business hires the vehicle from the financier for a fixed monthly cost.
The business has use of the vehicle over the term of the lease, and then retains ownership of the vehicle at the end of the lease term once all the interest charges have been paid in full.
Features of a Commercial Hire Purchase
- contract has flexible terms ranging from 2 to 5 years.
- fixed interest rates
- tax deductions are available
- monthly repayments are fixed and costs are known in advance
- retain the vehicle at the end of the lease term