Hire Purchase
Pay for ownership of your assets in instalments over a fixed period of time.
- Spread the cost of assets over a period of time
- Retain ownership once all payments are made
- Offset interest and charges against your company profits
How hire purchase works
Hire Purchase (HP) is a financing option that can help you manage the cost of an asset over a specified period of time. With HP, you can select the equipment you need, and one of our lenders will purchase the asset on your behalf. This way, you can spread the cost of the asset over a fixed payment plan that suits your budget and cash flow requirements.
After the agreed-upon timeframe, you’ll have the option to take ownership of the asset by paying a nominal fee. This makes HP a great option for businesses or individuals who need an asset but don’t want to pay the full cost upfront.
Why choose TAFCO?
We understand the importance of acquiring essential assets for your business without compromising your cash flow. That’s why TAFCO offer tailored hire purchase solutions designed to help you access the equipment, machinery or vehicles you need to succeed.
Your partner in growth
With years of experience is asset finance and a commitment to customer satisfaction, TAFCO is your trusted partner for hire purchase solutions. Whether you’re a small business looking to grow or a large enterprise seeking to optimise asset management, we’re here to help you achieve your goals.
Got questions?
We’re here to help
Here at TAFCO, we pride ourselves on offering an honest and friendly service to companies who are in need of asset finance solutions. Not only that, we also have one of the lowest margin requirements in the broker industry, meaning you get a better rate.
Call us directly:
01270 845 888
Mon-Fri 9am-5pm
Frequently Asked Questions
What is asset finance?
Asset finance is a financial solution that allows businesses to acquire assets such as machinery, vehicles, technology equipment, and more without paying the full purchase price upfront. Instead, the assets are financed through loans, leases, or other arrangements, with repayments spread over time.
What kind of assets can be financed?
A wide range of assets can be financed, including but not limited to vehicles, manufacturing equipment, office furniture, IT infrastructure and agricultural machinery.
What are the different types of asset finance available?
The main types of asset finance include hire purchase, finance lease, operating lease, and asset refinancing. Each type offers different benefits and structures, catering to various business needs and financial situations.
What factors are considered in the approval process?
Lenders typically consider factors such as your business’s creditworthiness, financial stability, the value and condition of the assets being financed, and your ability to repay the finance. Each lender may have specific criteria they use to assess applications.
How long does the approval process take?
The approval process for asset finance can vary depending on the lender, the complexity of the application, and the type of assets being financed. It may take anywhere from a few days to a few weeks to receive approval.