Business Car Hire Purchase

Hire Purchase for business cars

What are the advantages of Hire Purchase for cars?

Find your own car – Pick a car best suited to your needs, at the best price you could find.

No mileage restrictions – When you opt for equal monthly payments on your Hire Purchase car, enjoy the flexibility of no mileage limitations.

Flexibility of payment – Choose lower monthly payments by paying a larger value or balloon payment at the end of your car Hire Purchase term.

Agreement length tailored to you – With agreement duration between 12 and 60 months, you can agree a length that works best for you.

Reduction of tax payable – Allowances and capital grants may be claimable on your vehicle. It may also be possible to offset repayment interest against your business profits and claim back VAT.

Tax reliefs referred to are those applying under current legislation which may change. The availability and value of any tax reliefs will depend on your individual circumstances.

Zero arrangement fee when you apply for Hire Purchase online

Specific eligible assets are available via the quote tool.

What is a Hire Purchase agreement on a business car?

Acquiring a business car through Hire Purchase, is a flexible way of financing a vehicle when you want to keep it at the end of the arranged term. During the agreement period, you would be the registered keeper of the vehicle, fully responsible for maintenance, repairs and insurance of the car, with Lombard acting as legal owner until your last payment. When choosing Lombard Hire Purchase , you could expect flexibility of monthly payments, based on an optional deposit and a balloon payment tailored to your business’ budget and needs.

To find out more about Hire Purchase and how it compares to other types of asset finance we provide, visit the Hire Purchase page.

Is business car Hire Purchase for me?

Lombard Hire Purchase finance solution could be suitable for sole traders, partnerships, limited companies and other VAT registered business. If you are VAT registered and plan on using the Hire Purchase cars strictly for business, you are able to reclaim VAT and offset repayment interest rates against your business profits.

Get a car Hire Purchase quote

If you are after a flexible solution to business car hire finance where you become the owner of the vehicle at the end, get a quick indicative Hire Purchase quote now.

Get in touch

We can discuss finance solutions and answer any questions you might have.