Hire Purchase
A contract where you acquire the machine by making an initial deposit followed by regular instalments over an agreed period. Unlike lease hire, with hire purchase you gradually gain ownership of the asset, and once the final payment is made, ownership is transferred to you.
This method is beneficial for those who prefer to own the asset at the end of the term whilst spreading the cost over time. Hire Purchase combines the benefits of using the asset immediately with the eventual benefit of ownership. It is your responsibility to cover any maintenance, servicing, or repairs to the machine to manufacturer warranty standards over the term of the contract.
During the contract period should you wish to upgrade, the asset can be off set against any outstanding finance. Any equity can be used in the purchase of a new machine or retained.
obtained
- Fixed payments: fixed interest rate along the whole life of the contract
- Flexible: choose a repayment structure that suits your business.
- Ownership benefits: claim available capital allowances.
- Freedom: Hire Purchase imposes no usage restrictions.
- Full ownership: once all payments are made you have purchased the machine.
Hire Purchase Finance Solutions
Investing in the right asset can transform the way your business operates, but buying outright can place unnecessary pressure on cash flow. Hire purchase gives you a structured way to acquire machinery, vehicles or equipment while spreading the cost over an agreed period.
With hire purchase, you usually pay an initial deposit followed by regular fixed instalments. You can use the asset throughout the agreement, and once the final payment has been made, ownership transfers to your business.
At Outside Finance, our goal is to make asset investment straightforward. Whether you are upgrading machinery, expanding your fleet, replacing ageing equipment or planning for growth, we can help you explore hire purchase options that suit your cash flow, sector and long-term plans.
Speak to our experts
Looking to fund a new asset without putting pressure on working capital? Our team can talk you through your hire purchase options and help you find a structure that works for your business.
Financial Solutions
From ownership-focused asset finance to flexible funding and cash flow support, Outside Finance offers a range of financial solutions to help businesses invest, grow and stay operational.
Hire Purchase
Spread the cost of machinery, vehicles or equipment through fixed instalments, with ownership transferring to your business once the final payment has been made.
Lease Hire
Access the equipment your business needs through long-term fixed monthly payments, without taking ownership of the asset during the lease term.
Contract Hire
Use vehicles or equipment for a fixed monthly cost, often with maintenance and servicing included, then return the asset at the end of the agreement.
Business Loan
Secure funding for business growth, stock, expansion, cash flow or assets that may not be suitable for hire purchase or lease finance.
Hire Purchase Back
Release capital from an asset your business already owns while continuing to use it, then regain full ownership at the end of the agreement.
Refinance
Replace an existing finance agreement with a new structure to improve cash flow, access equity in assets or restructure business borrowing.
Speak to Our Finance Specialists
Thinking about using hire purchase to fund your next business asset? Our team can help you understand your options, compare suitable finance structures and find an agreement that supports your plans.
Whether you are purchasing machinery, upgrading vehicles, investing in equipment or replacing an essential asset, Outside Finance can help you access flexible funding without tying up unnecessary capital.
Outside Finance Ltd
Hinton on the Green, Evesham,
Worcestershire, WR11 2QT