Types of Funding - Hire Purchase | Lookers Land Rover
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Land Rover Hire Purchase

A hire purchase agreement is a simple and flexible arrangement that saves companies from having to concern themselves with the depreciation of their vehicle's value.

How Hire Purchase works

Hire purchase agreements comprise a deposit (usually between 10% and 50% of the retail value of your chosen vehicle) and a negotiated term of repayments, generally between 12 and 60 months. The level of monthly expense is determined solely by the retail price of the car, the size of the deposit and the length of the repayment period.

Advantages of Hire Purchasing a Land Rover

The larger deposit on Land Rovers bought with a hire purchase scheme mean a greater short-term cost, but one that can work out ultimately less expensive for businesses that want to take ownership of a vehicle and have the secure financial means to do so.

Unlike a leasing or lease purchase arrangement, a car's rate of depreciation has no impact with contract hire. Because the vehicle is classified as an asset, its depreciation can be written off against taxable profits. Moreover, a company might be able to claim tax relief on the interest charged across the period of the hire purchase contract.

Enquire more about Land Rover Hire Purchase

Head to any of the Lookers Land Rover dealerships, located in Bishops Stortford, Colchester, Chelmsford (Essex), or Battersea, Park Royal (London), call us, or fill in our enquiry form and a member of the Lookers Land Rover Corporate team will gladly assist you with further information on Land Rover Hire Purchase possibilities.