Own your asset while spreading the cost
Hire purchase - sometimes known as lease purchase - is a simple repayment facility, where you eventually own the asset at the end of your agreement with Lombard.
Hire purchase benefits
- Total control - the asset is yours at the end of the agreement
- Flexibility in your repayments - makes for easy budgeting
- Fixed or variable interest options - it's your decision which is best for you
- Tax advantages - normally you can claim writing-down allowances and perhaps capital grants, while repayment interest may be offset against profits and VAT is usually reclaimable (special rules apply to cars)
There is great flexibility with this type of asset finance. We can structure it in various ways, with a flexible deposit, fixed payments and perhaps a balloon final lump sum.
