Arguably the most recognised form of asset finance, Hire Purchase is often used by individuals and business' who wish to own the asset from the outset of the agreement. Depending on the scenario, possible options include VAT deferment, seasonal payments, balloons, fixed/variable payments and minimal deposits. If you are currently, or looking to consider, purchasing an asset via Hire Purchase, please do not hesitate to contact us and obtain a quotation.

Basics of a Hire Purchase:

  • Supplier is paid directly by the funder for the asset only, with the customer paying the VAT.

  • Asset goes on the business balance sheet and you are able to claim Writing Down Allowances, along with tax relief on the interest element of your payments.

  • At the end of the agreement, there is a small "option to purchase" fee.

Hensley Stephens Limited is an independent commercial finance brokerage and not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent finance advisors and so are unable to provide you with independent financial advice. Hensley Stephens may receive payment(s) or other benefit from the finance provider if you decide to enter into an agreement with them. Hensley Stephens Limited is an Appointed Representative of AFS Compliance Ltd, which is Authorised and Regulated by the Financial Conduct Authority, firm number 625035. Hensley Stephens Limited is a Franchisee of Asset Finance Solutions (UK) Ltd. Hensley Stephens Limited aims to provide our customers with the highest standards of service. If our service fails to meet your requirements we will endeavour to find a resolution. View our complaints procedure here. Privacy Policy