Hire Purchase
Hire purchase allows the buyer to own the asset outright at the end of the agreement. Unlike a standard leasing agreement, the full VAT is repaid with the first payment. The remainder of the agreement is completed by making regular fixed monthly, quarterly or annual payments over 1-5 years.
Benefits of Hire Purchase
- Own asset once final instalment has been paid
- Purchase higher specification assets than budget dictates
- Offset the payments against your taxable income saving corporation tax
- Maintain cash flow by avoiding large capital outlays
- Low fixed rate repayments
- Invest in other areas with a return on capital employed
- Manage and upgrade obsolescent assets
Call us on 01494 974 888 to find out more and speak to a Baker Leasing representative
