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Hire Purchase


The traditional method to purchase plant and machinery, with ownership at the end of the finance period. Secured on the asset being funded, a Hire Purchase contract is the ideal way to purchase an asset without using your own cash reserves. The repayments are made either monthly or quarterly and we can offer both a Fixed Rate or Variable Rate contract, each of which has their own useful characteristics, depending on the deal structure and type of asset you are purchasing.

 
 
 

You can pay a deposit upfront or just the initial periodic payment. Ordinarily you would pay the VAT upfront, however increasingly popular options are to defer the VAT or to spread the VAT over the term of the agreement, easing any pressure on your cashflow and allowing you to make that purchase today. If you are VAT registered, you can then claim the VAT back.

 

Generally speaking, the monthly payments (made up of both interest and capital repayment) are of equal amount, however we can consider accelerated, seasonal and payment holiday structures also.

 

To summarise, a very flexible contract which works around your business.

 
 

Hire Purchase

The traditional method to purchase plant and machinery, with ownership at the end of the finance period. Secured on the asset being funded, a Hire Purchase contract is the ideal way to purchase an asset without using your own cash reserves. The repayments are made either monthly or quarterly and we can offer both a Fixed Rate or Variable Rate contract, each of which has their own useful characteristics, depending on the deal structure and type of asset you are purchasing.

 
 
 

You can pay a deposit upfront or just the initial periodic payment. Ordinarily you would pay the VAT upfront, however increasingly popular options are to defer the VAT or to spread the VAT over the term of the agreement, easing any pressure on your cashflow and allowing you to make that purchase today. If you are VAT registered, you can then claim the VAT back.

 

Generally speaking, the monthly payments (made up of both interest and capital repayment) are of equal amount, however we can consider accelerated, seasonal and payment holiday structures also.

 

To summarise, a very flexible contract which works around your business.