Hire Purchase for Fleet Vehicles
What is a Hire Purchase?
As part of a hire purchase agreement, the buyer agrees to make regular payments over a certain period of time in order to eventually own the asset. The fleet vehicles you acquire with this traditional method of financing would be paid for in regular instalments until you reach the total value of all assets.
The biggest benefit of a hire purchase is that it allows the buyer to take ownership of the item immediately rather than waiting until they've saved up the full amount. Businesses can better manage their budgets and cash flow with the flexibility offered by this type of contract. You can continue using the asset or sell it at the end of the contract.
Fixed monthly costs to help with budgeting
Ownership at end of contract