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Hire Purchase (HP) for Business

Finance the assets your business needs with fixed monthly payments and a clear path to ownership at the end of the term through a Hire Purchase agreement.

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Finance That Fits Your Business

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No Obligation Enquiry

Tailored Broker Support

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Wide Panel of Lenders

Key Takeaways

We know you’re busy, so we’ve put an overview together for you

Spread the cost of vehicles, machinery and equipment over fixed monthly payments
Preserve working capital while securing the assets your business needs
Own the asset at the end of the agreement, subject to any option to purchase fee
Flexible terms can be tailored to suit your business and cash flow needs

How Does Hire Purchase Work?

Let's take a look at how Hire Purchase (HP) works step by step

Initial Deposit

You usually pay an upfront deposit at the start of the agreement (typically 10% or more of the equipment’s value). This reduces the amount you need to borrow and helps keep monthly repayments at a manageable level.

Fixed Payments

You repay the remaining balance through fixed monthly payments over an agreed term, giving your business predictable costs and making budgeting easier.

End-of-Term Options

Once all repayments have been made, you have the flexibility to either own the asset outright, return it, or explore new financing options. This ensures your business can continue to grow and adapt with the right tools.

Is Hire Purchase Right For You?

Hire Purchase can be a suitable option for businesses that want to spread the cost of an asset while working towards ownership. It offers fixed repayments, flexible terms and a straightforward structure, making it popular for funding vehicles, machinery and equipment. As with any finance product, it is important to weigh the benefits against the level of commitment involved.

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HP Finance might be right for you if...

You want to own the asset at the end of the agreement

You need fixed monthly payments for easier budgeting

You want to preserve cash flow while investing in business assets

HP Finance might not be right for you if...

You need the lowest possible monthly payments

You do not want the responsibility of eventual ownership

Your business needs a more flexible short-term funding option

Charles & Dean does not provide financial advice. Please consult your accountant or financial adviser before making a decision.

Our Funding Process

1

Discuss Your Funding Requirements

Talk to one of our Finance Specialists to help us better understand your goals.
2

Receive a Solution

Choose a bespoke funding solution proposed by our team and send over the required documents for our lenders.
3

Get Your Funding

Once your finance is approved, we work with you and the lender to ensure you can access your funds as soon as possible.

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What To Do Next

Get a Quote

Fill in the form at the top of the page and one of our team will call you back in as little as 10 minutes to discuss your quote.

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Call Us Now

Our Finance Specialists are available and happy to help you 9am-5:30pm Monday to Friday.

01780 763836

Read Our FAQs

Still have questions about HP Finance? We may have the answer within our FAQs.

Go to FAQs

Why Use Charles & Dean?

Here's why you should choose Charles & Dean to help with Hire Purchase

Tailored Funding Options

Every business is different. We take the time to understand your goals and match you with Hire Purchase solutions that suit your asset, budget and wider plans.

Straightforward Expert Support

Our team keeps the process simple, guiding you from enquiry through to payout so you can move quickly and focus on running your business.

Access to Multiple Lenders

With access to a broad panel of lenders, we can compare options across the market and help you secure competitive rates and terms for your business.

Our FAQs

Common questions about Hire Purchase answered. If you have a question and you can’t see it listed, please call us on 01780 763836 and one of our team will be able to help you.

Do I need a deposit for Hire Purchase?

In many cases, yes. A deposit is usually required at the start of the agreement, although the amount can vary depending on the asset, lender and your circumstances.

Do I own the asset during the agreement?

The lender typically owns the asset until all repayments have been made. Once the agreement ends and any option to purchase fee is paid, ownership passes to your business.

What types of assets can I fund with Hire Purchase?

Hire Purchase can be used to finance a wide range of business assets, including vehicles, machinery, equipment, technology and other high-value items.

Are monthly repayments fixed?

Yes, repayments are usually fixed for the length of the agreement, which helps with budgeting and gives you greater certainty over your outgoings.

Is maintenance included with Hire Purchase?

No, maintenance is not usually included. Your business is normally responsible for servicing, upkeep and insurance throughout the agreement.

Can Hire Purchase help with cash flow?

Yes, because it allows you to spread the cost of an asset over time rather than paying in full upfront, helping you preserve working capital for other areas of the business.

Hire Purchase (HP) for Business

Key Takeaways

How Does Hire Purchase Work?

Initial Deposit

Fixed Payments

End-of-Term Options

Is Hire Purchase Right For You?

HP Finance might be right for you if...

HP Finance might not be right for you if...

Our Funding Process

Discuss Your Funding Requirements

Receive a Solution

Get Your Funding

What To Do Next

Get a Quote

Call Us Now

Read Our FAQs

Why Use Charles & Dean?

Tailored Funding Options

Straightforward Expert Support

Access to Multiple Lenders

Our FAQs

Do I need a deposit for Hire Purchase?

Do I own the asset during the agreement?

What types of assets can I fund with Hire Purchase?

Are monthly repayments fixed?

Is maintenance included with Hire Purchase?

Can Hire Purchase help with cash flow?