Hire Purchase

Appy for a hire purchase car loan and start saving tax while enjoying a flexible payment schedule.

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Hire Purchase Summary

• You own the asset at the end of the agreement
• You can claim depreciation for tax purposes
• You can include a balloon
• You can trade in or include an upfront deposit to reduce you commitment
• Flexible payment schedule

One of the advantages of a hire purchase is that you get to keep the asset once the contact has finished. The best way to think of a hire purchase is as a rental agreement. The hire purchase agreement is between you, your employer and the finance company. 

In the case with us, we will have ownership over the asset until the final repayment has been made the contract is completed.

A significant advantage with a hire purchase is the you can claim depreciate on the asset for any interest paid, against the business’s income and therefore give you a nice tax write-off.

Another option available with a hire purchase agreement is to include a balloon in the agreement. A balloon is a larger payment, which is made at the fruition of the hire purchase. The advantage is that the balloon is not included in the interest paid.

In addition, by including a deposit upfront or trade in you can also reduce your you hire purchase commitment.

For a friendly no obligation free Hire Purchase quote contact us.

Car Loans - Hire Purchase Finance

Hire Purchase Loans are secured loans. This means that you don’t own the asset until the final payment has been made. Once it is made then it is yours. In the case that you don’t repay the hire purchase then the hire purchase asset can be repossessed. BUT… If you make between 25% and 50% then the hire purchase company will need a court order. You will need to check your hire purchase contract to see where you stand.

Other business products which might interest you are:

• Finance Lease
• Novated Lease
• Chattel Mortgage

Hire Purchase

• Hire Purchase
• The ins and outs

Finance Steps

1. Get Pre-approval
2. Find the Car you want
3. Negociate the best price
4. Drive your new car

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