Commercial Hire Purchase

Finance for your business success.

It's our business to help your business thrive. If you're wondering how to fund that next vehicle or piece of machinery, why not talk to our commercial lending experts. We can fund most commercial assets from £2,000 depending on your status.

What is Commercial Hire Purchase?

A Hire Purchase agreement lets you spread the cost of your asset over a period of time. The instalments include interest for the period of the agreement. At the end of the agreed time period, you will own the asset that has been financed.

When you know what it is you need to finance, simply contact your local Black Horse branch. We can then look at the cost of the asset and your company's ability to make repayments and the term of the agreement.

With your consent, we will work out the monthly payments and interest that you'll have to pay back to us over a set time period – subject to your agreement being approved.

An initial deposit

Agree an intital deposit and your agreement term.

Monthly payments

Your monthly payments will be set at a fixed interest rate, so you'll always pay the same amount each month until the asset is yours.

When does the company own the asset?

Once you've made all the payments, the asset belongs to your company.

That's it. All finance agreements documents are written clearly and concisely so you know exactly where you stand.

Here's what else you need to think about:

  • You'll own the asset outright once you've paid all your payments and not before.
  • If you miss a payment, your asset is at risk of repossession, so it's important to carefully consider your future repayment ability.
  • You need to fully insure the asset at all times – that's because the asset belongs to Black Horse for the duration of the agreement and its part of our terms and conditions.
  • We don't offer any protection against depreciation as a result of an unexpected fall in the value of the asset.
  • A personal guarantee may be required.

As long as your company can afford it, it's generally considered that Hire Purchase is a good way to get hold of a business asset quickly and easily.

Keep your business thriving

If your business depends on the purchase of items for success, it can be a worry. At Black Horse, we understand the need for swift feedback about lending decisions, so we'll be in touch with you as soon as we have an answer. As we're local to you, we can do this quicker than most.

All assets catered for

We can finance cars, vans, heavy goods vehicles, construction equipment, plant and machinery, as well as computer equipment. You won't own the asset until your final monthly payment has been made, but after that it's all yours.

To find out more, get in touch with your local Black Horse branch today.

Contact your local Black Horse branch

Guernsey

Contact details

Tel: 01481 710 411
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Location

10 Lefebvre Street
St Peter Port
Guernsey
GY1 2PE

Jersey

Contact details

Tel: 01534 514 700
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Location

Osprey House
5-6 Old Street
St Helier
Jersey
JE2 3RG

Isle Of Man

Contact details

Tel: 01624 632 900
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Location

Ground Floor
Peveril Building
Peveril Square
Douglas
Isle Of Man
IM1 2BS