Hire Purchase
If you are looking to purchase an asset which your business will ultimately own outright, hire purchase financing can provide the solution. This flexible form of funding enables you to benefit from having the asset without the need to commit a large amount of capital up front.
The benefits of hire purchase include:
- freeing up capital for other business uses
- a specified budget with fixed payments over an agreed period, to cover the cost of the asset and interest charges
- repayments can be tailored to meet individual requirements
- utilise ‘writing down’ allowances for tax purposes.
Minimum transaction values are typically over £250,000, with financing terms of up to seven years – although longer terms can be provided.
For more information please speak to your Relationship Manager, call Gareth Palmer on 0161 829 5288 or email gareth.palmer@cfs.coop. We are also happy to discuss requirements with brokers.
