Principal Business Finance
Hire Purchase
Spread the cost of equipment with a route to ownership.
The essentials
Hire Purchase explained
Hire purchase allows a business to acquire an asset through instalments. Ownership can pass once the agreement’s payment and completion conditions have been met.
Use the asset now
Put equipment or vehicles to work while paying over the agreed term.
Plan your payments
Review the deposit, instalments, charges and total payable upfront.
Ownership on completion
The agreement sets the requirements for the asset to become yours.
Hire purchase with a balloon payment
Some agreements defer part of the amount payable to a larger final balloon payment. This can reduce regular instalments, but the final amount must still be paid in line with the agreement.
Consider both monthly affordability and how the final payment will be met. Deposits, interest, fees and ownership conditions vary between providers.
Why Principal Business Finance?
Practical support from your first conversation through to completion.
A wide provider panel
We explore relevant commercial finance providers around your requirement.
Personal communication
A member of our team supports your enquiry and keeps you informed.
Support through completion
We coordinate the application and information needed as your enquiry progresses.
Customer experiences
What Our Customers Say
Explore related options
Asset & Equipment Finance
Finance Lease
Vehicle Finance
Your next step
Let’s talk about your requirements.
Share your plans and our team will explore the funding options with you.
Finance is subject to the provider’s assessment and approval. Rates, fees, terms and security requirements vary. Principal Business Finance Limited is a credit broker, not a lender.