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Hire Purchase Finance - Woman driving forklift truck

A simple way to spread out your asset costs

Hire Purchase

What is Hire Purchase?

A Flexible
Funding
Option​

Hire purchase enables you to buy your business equipment without huge upfront costs. The right agreement allows you to spread payments over a period that suits you.

It is commonly used to finance vehicles including cars, vans, buses, trucks and HGVs, as well as machinery and commercial equipment.

All you have to do is pay an agreed amount as a deposit to secure your asset. With our many years as a leading hire purchase finance company, you can be confident that working with Coates means you will have the arrangement that suits your business perfectly.

Coates Finance has a number of hire purchase finance solutions available for businesses across all sectors.  

Expand your plant machinery, buy new or used vehicles or get more equipment, whilst spreading the payments over time, complete the form below to request a call back or call us today.

Call Us Today for a FREE No Obligation Quote: 01904 948008

Or simply complete the form below and we will contact you

Is Hire Purchase Right for my Business?

Buy Assets and Spread the Cost of Expensive Business Equipment

Hire purchase (HP) is a great finance option if you want to buy assets for the operation and growth of your business.

It’s an extremely convenient way to spread the cost of expensive business equipment. A key benefit with hire purchase is that you own the asset at the end of the agreement, usually for a nominal fee. It is a great option if you are buying equipment which has a lifetime longer than the term of the loan.

Repayment is worked out over a negotiated period that suits you and is usually between 3 and 5 years. 

At the end of the agreed term, the option to purchase gives you freedom to keep your equipment or upgrade to newer models.

 

Forklift truck Finance - Woman driving forklift truck
Hire Purchse for Business Equipment - Spread the Cost of Buying Essential Assets

The Advantages of Hire Purchase for Small Business

Helping You Own Equipment, Plant Machinery, Vehicles and Tools

What Can you Finance with Hire Purchase?

Here is a sample of some of assets that you can hire purchase for your business:

  • 3D printers, scanners and peripherals
  • Agricultural machineries such as tractors, harvesters and dairy equipment
  • Commercial vehicles (new/used), including cars, vans, trucks and lorries
  • Construction equipment, machinery and power tools for building
  • EPOS till systems
  • DJ equipment
  • Event furniture
  • Marquees, Pavillion, Gazebos
  • Forklift trucks
  • Manufacturing plant and equipment
  • Recycling and waste management equipment such as septic tanks, water purifiers and compactors
  • Forestry equipment and machinery
  • Garage equipment
  • Gym, exercise and fitness equipment 
  • Refrigeration and air conditioning equipment, parts and tools
  • Office equipment and furniture
  • Computers and laptops 
  • Commercial kitchen equipment
  • Refrigeration and air conditioning equipment, parts and tools
  • Security and CCTV camera equipment
  • Shop fittings and refurbishments
  • Sports and racing cars
  • Power sources, such as wind-turbines, solar PV farms and ground source heat pumps.
  • Vehicle tracking systems and devices
  • Veterinary equipment such as scanners and lasers systems.

Because a Hire Purchase agreement means that your business owns the equipment once all your monthly payments have been made, if you need to upgrade your assets later, you have the advantage of selling your old equipment to use as a deposit.

However, HP also means your business will be responsible for the maintenance and upkeep of the equipment throughout its life – even while you are still paying for it.

See if hire purchase is your best option by checking the list below;

Is This the Best Solution for my Business?

  • Claim capital allowances on all types of equipment purchases and upgrades, saving you more money in the long run.
  • Make convenient monthly payments over the lifetime of the agreement.
  • Flexible payment plans reduce your overall expenses
  • You have the option of a balloon payment at the end of the term to further reduce monthly payments.
  • Personalised repayments that work with your available cashflow.
  • Fixed rates are agreed at the start of the HP agreement.
  • Reclaim VAT on the whole purchase price (with the exception of vehicles).

Hire Purchase Equipment Without Paying Cost Upfront

Hire purchase is a great finance option if you want to buy assets for the operation and growth of your business.

It’s an extremely convenient way to spread the cost of expensive business equipment. 

A key benefit here is that you ultimately own the asset at the end of the agreement, usually for a nominal fee. It is a great option if you are buying equipment which has a lifetime longer than the term of the loan.

Repayment is worked out over a negotiated period that suits you and this is usually between 3 and 5 years. At the end of the agreed term, the option to purchase gives you freedom to keep your equipment or upgrade to newer models.

Coates Finance has a number of hire purchase finance solutions available for the benefit of businesses across all sectors. 

If you are keen to expand your plant machinery, vehicles or equipment, whilst spreading the payments over time, you can request a call back today

As a hire purchase finance company, we have experience in providing funding for manufacturing, printing, construction, engineering, professional services and many other industries. 

Fund your success today – just complete the short form below or give us call today. We can finance almost any business asset.

Call Us Today for a FREE No Obligation Quote: 01904 948008

Or simply complete the form below and we will contact you

a flexible funding option

Are you Ready to Discuss Hire Purchase?

To apply for Hire Purchase there are a few requirements your business must have in place:

  • The applicant must be a limited company or limited liability partnership
  • The company must be based in the UK
  • The company must be clear of any county court judgements.

Hire purchase for business couldn’t be simpler. Pre-approval is only a few steps away. Just complete the application form below to find out if you qualify to work with us.

Our pre-approval process is quick and easy. Speak to one of our knowledgeable finance professionals to see how we can help your business get funding.

Working with you to Grow Your Business​

Why Choose Coates Finance?​

Key benefits of working with us

  • Fast decision: Get a fast decision in 24 - 48 hours so you can spend more time growing your business.
  • Simple Process: Fill in our short, easy-to-complete application forms without the complicated jargon.
  • Personalised Solution: Obtain the right solution to your unique financial circumstance and raise the cash to purchase the assets you need.
  • Flexible amounts: Fund your growth with the £2000 - £500,000 that we can help make available for you to scale your business.
  • Specialised knowledge: Draw on our years of practical hire purchase expertise in a variety of sectors to ensure you achieve your desired funding solution
  • Pay in instalments: Spread the cost of your purchases over a period of time that’s right for you from 3 to 60 months
  • Full Transparency: We provide independent impartial advice about the products offered by a number of lending partners so you always get the best deal and the best rates.

Fast and Simple

Get your finance offer in 24 - 48 hours. Short, easy-to-complete application forms

Personal and Flexible

Raise the right amount with the right hire purchase agreement to suit your specific circumstances

Release the cash you need

Fund your growth with the extra money that we can help make available for you

Specialised and Open

Draw on our years of practical expertise to guide you through the hire purchase process

Get Started

Partner with Coates Finance

Here is what we need to get started

Fast Finance in 3 Easy Steps

Our friendly team of experts are waiting to assist you and your company.

We’ll help you finalise a solution that meets your needs, and take the hassle out of the decision-making process so you can spend more time on what matters to you most – growing your business.

We have streamlined the application process and made it simple to apply for the funding you need.

Complete the short form below and let’s get started today.

Complete the form below and speak to one of our knowledgeable business finance professionals, who will answer your questions and guide you through every step to a solution that works for you.

You can also give us a call if you need immediate answers to your questions. Our friendly experts will happily answer any questions you may have before you begin your application.

Call us on 01904 948008

Lines are open
9:00am – 5:30pm Monday to Friday
(excluding UK bank holidays)

3 steps to success

We'll Help you Every Step of the Way

Follow the simple 3 step process to finance your business today. Once you have completed the first step, we will arrange a call to answer any more detailed questions you may have and move quickly through steps two and three to get your financial requirements successfully approved.

01

Complete the Form

Complete the simple form below and apply online for the amount you need to grow your business

02

Receive Fast Approval

We will process your application and aim to get you approved for your desired amount in 24 – 48 hours

03

Get Funded

Congratulations!

Now you’ve been approved, you can acquire the assets for you require to grow.

Call Us Today for a FREE No Obligation Quote: 01904 948008

Or simply complete the form below and we will contact you

Let's Get Started

All you need to do is complete the form and submit your inquiry to get your no obligation quote today

  • Partner with one of the UK's leading asset finance providers
  • Get sector specific solutions from the "smartest people in the finance industry"
  • Apply in minutes and get a preliminary decision within the hour
  • Access funds from £2000 - £500,000
  • FREE tailored quotation with no obligation

Get your FREE business finance quote today

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Coates Asset Finance arranges funding for startups, small businesses and SMEs in the UK.

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