1300 Cheap Loans

Cheap Hire Purchase

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Hire purchase is another car leasing option for business use clients. A Hire Purchase is also referred to as A Commercial Hire Purchase, CHP, Term Purchase, Asset Purchase or HP.

Hire Purchase Features

• The finance provider has security over the goods being financed
• The finance provider retains ownership of the goods until the Hire Purchase is paid out or the last payment is made, at this time title passes to the borrower
• The maximum loan term is five years, however payments can be reduced by way of a balloon payment at the end of the five year term
• No deposit is required for approved purchasers
• Use this product to free up working capital and other facilities such as overdrafts and equity in property
• Private sale purchases OK

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