Under Hire Purchase, you can make payments for the equipment on a regular installment basis over a fixed repayment term. This allows you to better manage the cash flows as the equipment is paid off in tandem with the productive use of the equipment.You will take ownership of the equipment at the end of the repayment term.
Features of Hire Purchase:
- Financing of up to 90% of the asset value.
- Goods and Services Tax (GST) is charged upfront on cash price of asset.
- Title of asset is transferred to Hirer upon full payment.
- Applicable to most fixed assets.
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