Hire Purchase

Managing cashflow is one of the most important challenges businesses face on a daily basis. Hire Purchase allows you to grow your business without putting additional pressure on your cashflow. It helps you to acquire assets whilst preserving your working capital. It’s among the best ways to acquire new and upgraded equipment, plant,vehicles and technology without tying up working capital.

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Features & Benefits

  • Assets financed by hire purchase are treated as ‘owned’ assets for accounting and tax purposes (subject to compliance with applicable rules)
  • It’s a simple, straightforward finance facility
  • Rental payments are fixed, allowing you to budget accurately
  • It leaves working capital free to be used where it is needed most – in your business
  • Cashflow and other bank credit lines are preserved
  • Payment schedules can be tailored to match income and cash flow
  • Gives your business new plant and equipment with a small initial outlay.

Lending criteria and terms and conditions apply. Finance is provided by way of a fixed rate business hire purchase and or business lease agreement. In the case of Hire Purchase or leasing, ownership remains with Bank of Ireland until the final payment is made. The credit provider is Bank of Ireland trading as Bank of Ireland Finance.

Warning: If you do not meet the repayments on your credit facility agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

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