hire purchase

If you’re looking to buy something for your business but want to spread the cost over monthly instalments, hire purchase allows you to do just that and you’ll be able to own the asset outright at the end of the agreement. 

hire purchase

helping your business to grow...

Hire purchase (HP) lets you spread the purchase cost of an asset, like a car or equipment, over a longer period with fixed regular payments. It can be flexible on the cost of your deposit, monthly payments and the final lump sum to suit your business needs.

When you pay for whatever you’re buying using hire purchase there’s normally a deposit to be paid and the VAT is paid upfront – unless you take advantage of our 3-month VAT deferral. 

Remember, when opting for hire purchase, your business will own the item at the end of the agreement.

If you don’t have time to speak to someone, Asset Finance Compared is our online platform that allows you to get a Decision in Principle in 60 seconds, wherever you are.

Call 0115 958 6872, email enquiries@maffinancegroup.co.uk  or fill in an enquiry form for further information.


hire purchase explained...

things to consider...

term length

Assets can be funded for up to 7 years

useful life

Funding can be arranged over the useful life of the asset, sometimes with a balloon payment


You can delay paying the VAT for 3 months through our VAT deferral option.

so how does hire purchase work?

You contact us and tell us that you want to buy an asset for your business but would like to spread the cost over monthly payments to suit your business's cash flow.
Large panel of funders
Card #2
We provide you with an indicative quote. If you want us to proceed, we will gather information about you and your business to complete a full credit assessment. We then submit this to the bank for approval.
Large panel of funders
Card #3
Once credit approval has been provided by our funder, we'll contact you to confirm terms and conditions of sanction. If you want to proceed, we'll speak to your supplier to request that they invoice the assets to the funder. We'll then arrange to let you have documentation for signature.
Card #4
Once we have signed documentation, we'll arrange for the funder to pay the supplier for the assets and collection or delivery of the goods can then be arranged.

get in touch...

If you would like to get a quote or need further information, simply fill in the form and we will contact you on the date and time that you request.
If you’re having trouble submitting the form, or want to speak to someone directly, you can call us on
0115 958 6872 and a member of our team will be happy to speak to you.
Alternatively, email us at enquiries@maffinancegroup.co.uk.