Commercial Hire Purchase
We totally understand that you need to hire equipments for your business. Own It Loans can helo you with it.
Commercial Hire Purchase is a loan where the lender buys the equipment at the borrower’s inclination. Thus ownership is only passed to the borrower at the end of the contract.
Commercial Hire Purchase (CHP)
The CHP is a agreement between the financier (the ‘owner’) and you (the ‘hirer’) for the right to possess and use a car or vehicle in return for regular installment payments. A ballon purchase is optional with CHP.
Upon compelition of CHP full owner is transferred to you (the ‘hirer’).
We can help you with all the process of CHP once you are have made up your mind for car. Once you have completed the fixed period of payment full ownership of vehicle is transferred to you.
Benefits of Commercial Hire Purchase
- Fixed interest rates and monthly lease rentals
- Costs are known in advance
- Terms of Contract are flexible
- A residual can be applied to contract, lowering monthly payments
- Tax deductions can be claimed for depreciation of the equipment
- Can claim the GST in the equipment’s price if you are registered for it.
- Ability to structure your repayments to suit cash-flow trends