The following regulated finance products are arranged and managed by Instant Business Manager Ltd

HIRE PURCHASE (HP)

Hire Purchase offers a straightforward way to spread the cost of your vehicle. With this method of finance, you typically have a fixed rate of interest with fixed monthly payments, making budgeting simple and transparent.

How it works: You choose the amount of deposit you wish to pay. The remainder of the balance, together with fixed interest, is repaid over an agreed period (typically 12-60 months). Once all payments are made, you own the vehicle.

The Benefits of Hire Purchase:

• Lower Initial Outlay: Keeps your personal or business cash available.
• Control: You decide the deposit and the term to suit your budget.
• Fixed Monthly Payments: Makes financial planning easier.
• Ownership: You gain full ownership of the vehicle at the end of the agreement.
• Simplicity: A traditional and easy-to-understand finance route.

Note: While there may be tax allowances available for business users, we recommend you consult with an accountant or tax professional to understand how this applies to your specific circumstances.