Hire Purchase

Hire Purchase allows your business to acquire capital equipment without the financial restrictions of outright purchase. 

This flexible solution also gives you the option to purchase assets over a pre-determined period.
 
  • Hire Purchase gives you the freedom and flexibility of a cash buyer but without the initial capital outlay – deposit only required
  • The cost of your capital assets is spread over a pre-determined period usually 2 – 5 years, preserving your cash flow for use in the business
  • Buy at today’s prices and repay from future income with flexible repayments that can be matched to your cash flow 
  • VAT is normally paid on signing the agreement - no VAT payable on repayments 
  • Funds to purchase the as​set are sent to the seller of the asset
  • Interest charges may be offset against taxable profits 
  • Capital allowances are the same as those of outright purchase 
  • Assets appear on the balance sheet from the start of the agreement
  • The asset is owned by Northern Bank Limited. Transfer of ownership is on completion of the agreed term with payment of a nominal option-to-purchase fee.
  • Option of fixed, variable or variable term repayments

 

Go to Details​​​​​​

More information

Compare loans and credit
See the different types of financing options and find the one that is right for you.

Compare loans and credit
Become a customer
Discover what we can offer you, and see how easy it is to become a Danske Bank customer.

Become a customer
Contact
0345 850 9515

Contact us

Customer information Useful numbers Book Appointment Become a customer

Chat with us

Customer Support

Find out more

Find a business Centre