What is Hire Purchase with Balloon Payment?

Hire Purchase with Balloon Payment

  • Low deposit - keeps valuable personal or business cash available
  • Lower fixed monthly payments - perfect for budgeting
  • A better car - lower payments can help you choose a higher specification car
  • Flexibility - does not compromise your other lines of credit
  • Assets - you gain vehicle ownership
  • Tax benefits - Tax allowances for business users
  • VAT free - no VAT on payment

If you or your business normally buys its cars with cash, a bank loan, or through a traditional Hire Purchase scheme, then you may find Business Contract Hire a far more cost-effective option.

Not only does Contract Hire allow you to run a new vehicle for an inclusive monthly rental, but it also releases valuable capital from your current vehicle or your next potential purchase. Contract Hire means you can afford an even better vehicle than you initially thought.

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