HIRE PURCHASE OR LEASE?

BENEFITS

• Fixed repayments help in planning cash flow.
• Select a repayment term between 12 and 60 months.
• Spread the capital cost over a period with a small option fee to purchase the equipment at the end of term.

RISKS

• You will only own the equipment once you have paid all contractual payments plus the option to purchase fee. You cannot modify or sell the equipment without our prior written permission. If we do give permission, you will need make all contractual payments on the sale of the equipment.
• Failure to keep up with your repayments could lead to us taking back the equipment and you may be liable to pay additional costs and interest, in addition to the contractual settlement amount (less proceeds. of sale of the equipment).
• You are responsible for any damage to the equipment during the contract period and must obtain appropriate insurance.
•  Your credit score may be affected if you do not keep up with your repayments. 
• Other fees and charges may apply which could include administration fees and modification fees.  Please refer to the standard charges document for more details (available on request).

BENEFITS

• Fixed repayments help in planning cash flow.
• Better cost management for service and maintenance.
• Preserves capital for other business expenses or investments.

RISKS

• Failure to make regular and timely repayments may result in you paying additional costs and interest
• Your credit score may be affected if you do not keep up with your repayments.  
• Other fees and charges may apply which could include administration fees and modification fees.