Get a Hire Purchase quote
If you're after commercial vehicle finance solutions, with an option to become the owner of the asset at the end, get a quick indicative Hire Purchase quote now.
Find your own vehicle – You have the freedom of choosing large commercial vehicles that work best for you and your business, for the best price.
No restrictions on mileage – You will not be limited to a specific mileage when opting for equal monthly payments on your Hire Purchase commercial vehicle
Flexibility of payments – For example: by paying a higher, end-of-term balloon payment sum, you can decrease the monthly costs of your asset hire and inject cash back into your business.
Personal agreed Hire Purchase term – We will help you decide which term length works best for your business, with the flexible duration between 12 and 60 months available.
Flexible interest rates – With a choice of fixed or variable rates, you could make the choice that best suits you and your business.
Reduction of tax payments – Allowances and capital grants may be claimable on your agreement. It may also be possible to offset repayment interest against your business profits and claim back VAT.
Tax reliefs referred to are those applying under current legislation which may change. The availability and value of any tax reliefs will depend on your individual circumstances
Using a Hire Purchase agreement to finance assets, such as large commercial vehicles, is a flexible way of acquiring machinery for your business that allows you to become the lawful owner of the assets at the end of the hire term. During the lease period, you will be the registered keeper of the vehicles, having full liability of maintenance and repairs, with Lombard acting as the legal owner until your last payment. Once the final payment known as the ‘balloon payment’ is settled, the ownership is transferred over to you.
Lombard offers flexible Hire Purchase agreements, tailored to your business needs and budget. To find out more on this asset financing method, and how it compares to other solutions we provide, visit the Hire Purchase page.
Lombard Hire Purchase is a flexible asset finance solution for VAT registered business. Enterprises such as sole traders, partnerships and limited companies that plan on utilising large commercial vehicles for business use only, can reclaim VAT by offsetting finance repayment interest rates against business profits. We offer Hire Purchase on large vehicles, ranging from coaches and buses, to HGVs over 3.5t GVW and even trailers.