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SHOULD I CONSIDER A HIRE PURCHASE?
A hire purchase finance agreement can be a great way purchase a car. Often used as an alternative to a company car allowance, a hire purchase car finance option is a financial agreement where the bank purchases the car on your behalf and you pay the bank back over the life of the loan. At the end of the repayment period, you become the outright owner of the vehicle.
In addition, with hire purchase finance you can choose to make balloon payments, which is great for sole traders and commission-only workers who don’t often have a regular cash flow.That said, if you are running a business that pays tax on an accrual or cash basis, you may want to consider a commercial hire purchase loan. This loan is great for businesses with non-typical cash flow, or who have assets tied up in other areas. There are tax implications to commercial hire purchase loans and at Pacific Auto Finance, we can talk you through whether a hire purchase is the right car finance solution for you.
PACIFIC AUTO FINANCE AND HIRE PURCHASE SOLUTIONS
Pacific Auto Finance have hire purchase loan terms ranging from 12 months to seven years and our knowledgeable and experienced team in Perth can explain how a hire purchase agreement can save you both time and money.
Pacific Auto Finance ensures your hire purchase solution can include various benefits such as a competitive rate, flexible balloon payments and no early termination fee.
Contact Pacific Auto Finance today and we’ll help to get you driving away in your new car sooner.