Commercial Vehicle Hire Purchase
Commercial Vehicle Hire Purchase
Fixed monthly repayments and tax incentives for Businesses with Commercial Hire Purchase agreements
Get Fixed Monthly Repayments With A Commercial Hire Purchase
A Commercial Hire Purchase is also known as a Corporate Hire Purchase or Hire Purchase and is often abbreviated as CHP or HP. A Commercial Hire Purchase agreement is a commercial finance product available for businesses whereby the financier purchases the vehicle on your behalf and hires it back to you over a set term with fixed monthly repayments.
During the duration of the agreement, the customer doesn’t own the vehicle but is able to use the vehicle. The customer takes ownership of the vehicle at the end of the agreement, once all payments are made (minus any residual) and the interest charges have been paid in full.
Speak To Our Specialist Team To See If A Commercial Vehicle Hire Purchase Could Help Your Business
Under a Commercial Hire Purchase agreement, GST is payable on the vehicle purchase price as well as on all term charges and any associated fees. Commercial Hire Purchase agreements are ideal for businesses who use either the accrual method or cash method of accounting.
If you have any questions about how a Commercial Hire Purchase agreement works or would like to discuss your specific business needs, speak to an Loans For U consultant today for an obligation-free chat.
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