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Hire Purchase / Lease Purchase (HP/LP)

Everyone is familiar with the traditional vehicle finance of Hire Purchase where upon the last payment you will acquire title of the vehicle.

Lease Purchase is very similar to Hire Purchase but has a deferred (balloon) payment at the end of the contract.
This is a non VAT product and there are no mileage penalties.  This is an ideal funding option if a company is not VAT registered. 


  • No mileage penalty
  • Changes are exempt from VAT
  • Tax reduce - reduces tax bill
  • Can be done as a business or as an individual
  • Capital release - leaves money available to develop other parts of the business
  • Vehicle is seen as a balance sheet asset
  • Interest charges allowable against taxable profit - reduces tax bill
  • Ownership of the vehicle - control of usage and disposal