Product Features
- £25k to £250k (£25,001 minimum loan size for sole traders and simple partnerships.)
- 1 to 7 Years (asset dependent)
- Companies registered in
- England, Scotland & Wales
- Purchase new or used
- Capital & interest repayment
- Up to 100% Loan to Value
- From 2.5% flat rate
- Charge over the asset
Product Features
- £25k to £250k (£25,001 minimum loan size for sole traders and simple partnerships.)
- 1 to 7 Years (asset dependent)
- Companies registered in
- England, Scotland & Wales
- Purchase new or used
- Capital & interest repayment
- Up to 100% Loan to Value
- 5% to 8% APR
- Charge over the asset
Product Overview
A Hire Purchase facility is a loan to help a
business purchase new hard assets
- Trucks & Commercial Vehicles
- Cranes, Plant & Machinery
- Waste Recycling Equipment
- Manufacturing Equipment
- Cars & Fleets
We offer market leading rates
and rapid approvals across leading brands such as:
It’s one way for a business to acquire the newest and best assets,
without causing a big hole in their cash flow.
What you’ll need
to start an application
- Company/ business details
- Details of the Directors / Owners of the business (Director/ Partner/ Applicant)
- Information about the asset
- Loan details (amount/ term/ repayment profile)
- Supporting documentation (accounts/ management accounts/ other borrowings/ business bank statements/ debtor & creditor information)
- Nominated bank account details
- Supporting information (credit write up commentary and other documents that may help us to make a quicker decision)
Posfin Capital has full credit broking permissions and is regulated by the Financial Conduct Authority under FRN 913022. Posfin Capital is not a direct lender.
Why
Asset Finance?
Asset Finance is used by businesses to obtain the equipment they need to grow.
By spreading the cost of equipment over the course of its economic life, you can avoid tying up your valuable working capital.
We offer a range of flexible finance options where you can make regular repayments over an agreed period to suit your needs.
Hire Purchase and Lease Finance, means you can make regular repayments over an agreed period to suit your requirements.
Hire Purchase (HP)
is a popular option if you want to own the asset outright at the end of the agreement term.
Our lenders will purchase the asset on your behalf and create a tailored repayment plan to suit your budget. At the end of the agreed term, you can choose to take ownership of the asset for a nominal fee.
Finance Lease
is a method of financing assets where they remain the property of the finance company that hires them and the lessee pays for the hire of the asset or assets.
The benefits of Hire Purchase
- Simple, straightforward product. VAT is paid up front and you make your own arrangements for maintenance, repairs, and servicing.
- Tax advantages. As well as reclaiming VAT (if VAT registered), you may be able to claim capital allowances and offset repayment interest against profits.
- You choose how the finance is structured. With a flexible deposit, fixed or variable payments, and the option of a final balloon lump sum payment at the end of the agreement.
- Ultimate ownership. You have the right to buy the asset at the end of the agreement term.
- Seasonal payments. Offered for the agriculture market to tailor repayments to meet seasonal income.
