Hire Purchase
Finance your next purchase with tailored terms and predictable payments.
Hire Purchase with Liberty
Hire purchase enables businesses and high-net-worth individuals to spread the cost of an asset with fixed, affordable repayments and the option to own the asset upon successful completion of their term.
We understand that all potential customers are unique – so we treat them that way. Whether it’s a traditional asset you’re looking to finance, or something more specialist, we’ll look at the bigger picture and see how we can best help you.
Hire purchase is available for both new and used assets on terms up to 5 years and has no milage restrictions – ideal for high-usage assets. We also offer a reduced settlement figure for existing customers who are taking out a new facility with us.
Hire Purchase explained
When you’re looking at financing a new purchase, hire purchase is a term that will often crop up. But is it right for you?
Hire purchase allows our customers to spread the cost of new assets – and keep it upon successful completion of their term after paying an Option to Purchase Fee. It’s a simple way to purchase an asset, which you intend to keep, whilst breaking down the cost into more manageable payments. First, you source the asset you’d like to finance, undertaking all the required checks that you’d normally do with any big purchase.
Liberty will then underwrite the deal, and if the terms we are willing to offer are accepted, Liberty will pay the seller directly and relevant documentation is signed.
The benefits of Hire Purchase
Spread investment
Split payments over your term period, either with regular payments through the whole agreement or a large final payment at the end of the agreement, often known as a balloon.
Ownership at the end of your term
Prefer to own your assets? With hire purchase, any asset is yours to keep given the successful completion of your agreement and payment of the Option to Purchase Fee
Fixed monthly payments
It’s much easier to budget when you know what you’re spending.
Tax benefits
Depreciation and interest may be tax-deductible for businesses, offering an extra financial incentive to hire purchase.
Reviews
I have been dealing with Liberty for 12 or so years great company to deal with. All the staff at Liberty are friendly and helpful.
Cooke Bros
Liberty were recommended to us for the finance on two vans for our business. From our initial chat to the aftercare we found them to be very professional and really easy to deal with. Would have no hesitation in recommending Liberty.
Chris C.
We have used Liberty for many years and always dealt with Lewis who is friendly, professional and always willing to help and go the extra mile for his customers. Thank you for your help.
Natalie C.
Can’t fault Liberty, 15 years doing business always dealt with young Lewis great guy can’t help you enough!!! Recommend any business to them.
Gary R.
Just to say a big thank you to Leah for getting the 2 deals approved yesterday. Very efficient and polite with a real positive approach to obtaining the approval.
Tony B.
Lewis & Isaac of Liberty, gents in the real world. Funded many Vehicles with Liberty. Good communication and a pleasure to deal with.
Darren C.
Joe is great, calm and so easy to deal with, spends time making sure you are comfortable with the proposed deal – no improvement needed!
Studio Managing Director
I’ve done business with Liberty since 2015; I’ve experienced superb service and out of the box thinking from them. Lewis is champion!!!
Sam D.
Funds received. Thank you once again. You’ve been amazing from start to finish. I will be recommending you to all the horse connections I have and hopefully attract you more business.
Horsebox Company Director
Very well – couldn’t be happier. We started out initially not expecting an offer of finance, then got one with a bigger deposit required than we wanted and then that deposit was reduced by about 40%. Very happy.
Anonymous
Fast and simple process
Personal, human-led decisions
UK-based support team
Trusted for over 25 years
Why use Liberty
An award-winning, independent lender, we’ve built a service that has helped 3,100 customers achieve their ambitions through simple funding solutions.
Since 2001, we’ve helped unlock opportunities for businesses and high-net-worth individuals underserved by traditional lenders. It’s that commitment that has helped us keep our customers growing, and our team growing too.
Our Specialities
We’ve built a reputation on delivering simple and unique funding solutions across a range of asset finance specialities.
Vehicle Finance
Commercial Vehicle Finance
Construction / Yellow Plant
Agriculture
MachineryHire Purchase FAQs
We’ve offered finance on a huge list of assets. That includes cars, vans, HGVs, construction yellow plant equipment, agricultural equipment and CNC machinery – plus a lot more. If you find an asset you want to finance, get in touch and we’ll walk you through how we can help.
Hire purchase is a great choice for those looking to spread the costs of a purchase on an asset they may want to keep. You can spread the cost with fixed payments, and it’s your decision whether you keep the asset after your term ends.
We’re an independent lender, not owned by a bank. This means we’re able to make more unique, human-informed decisions on our finance agreements. If your bank has said no, it’s worth giving us a call – we may still be able to help.
Yes. Each agreement is aligned to a particular asset, and you may want another one later down the line. Alternatively, we can put multiple assets on the same agreement if purchasing at the same time.
Finance Calculator
Got an idea of what you’re looking to finance? Use our calculator to get an outline of potential repayments.
For a bespoke quote, it’s always best to contact our team.
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For illustration purposes only. Our team will calculate the rate you may be offered based on your individual circumstances. This is not an offer or quote for your finance.
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