You simply pay a small deposit (10% to 20%) to suit your available capital, and then make monthly repayments over an agreed period of time (24/36/48/60 Months). Once all the payments have been made along with the option to purchase fee (Approx £50), then you will acquire title to the car.

If you are a business user, all of the interest on your payments is allowable against tax. Additionally a proportion of the car's value can be written down against your profits.

Benefits of Hire Purchase:

• Ownership of the goods - control of usage and disposal
• Eases cash flow / budgeting & planning - known outlay that will not change
• Leaves other credit lines undisturbed

Benefits for Business Users:

• Interest charges allowable against taxable profits - reduces tax bill
• Tax relief (capital allowances) - reduced tax bill
• Capital released - leaves money available to develop other parts of the business