Commercial Hire Purchase Explained

Fleetcare’s hire purchase contract offers you the flexibility of knowing exactly what the monthly repayment will be, while delivering ownership of the vehicle at the end of the agreed term, or earlier if desired.

How does a Commercial Hire Purchase work?

  • The financier gives you the immediate use of the vehicle of your choice in exchange for regular payments over an agreed period of time (terms range from one to five years).
  • Upon making the final payment, you become the outright owner of the vehicle.

Features and benefits of a Commercial Hire Purchase:

 
 
 
 
  • No deposit vehicle finance
  • Interest and depreciation may be tax deductable*
  • Cash repayments are spread over time, keeping your cash reserves for more effective use
  • One fixed monthly payment – protects you against interest rate changes and allows for more accurate budget forecasting
  • Option to use the trade-in values of previous vehicle to build equity in your new car
  • Ownership is automatically transferred at the end of the agreement
  • You can make a balloon to adjust monthly payments to suit your business’ cash flow
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