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- Hire Purchase
Hire Purchase is a traditional form of finance where the entire value of the vehicle is taken as a loan and repaid, with interest, over the period of the contract.
The finance is secured against the value of the asset and the business will take ownership at the end.
- Repayments can be structured to suit your cashflow
- You can reclaim the VAT
- Offset HP charges and interest against pre-tax profits and can normally claim capital allowances
- You can spread the cost over the period that best suits the lifetime of the asset