^900k Hire Purchase Finance – Apply for Fast Approval

Standard equipment hire purchase is typically suited to UK limited companies and sole traders with trading history, who can pass affordability checks and show a clear reason for the equipment purchase. Lenders often want the asset to be identifiable and funded through the agreement, not for refinancing. Deposit and the asset’s value and condition can be key to acceptance. For many SMEs, facilities may range from around £25,000 to £2,000,000+, and terms are often 12 to 84 months depending on the equipment and the lender’s approach.

Commercial vehicle hire purchase helps businesses fund replacement or expansion of fleets, such as vans and trucks, subject to lender appetite. Eligibility is built around creditworthiness and affordability, alongside checks on whether the vehicle is financeable, including specification and, where relevant, age, condition and mileage. Deposit requirements and insurance arrangements can be part of the process. Typical SME requests may fall from roughly £10,000 to £750,000 per vehicle or contract, and terms often run from 24 to 60 months, depending on vehicle category and residual value assumptions.

Some SMEs improve monthly affordability using balloon structures where a larger final payment is left at the end of the term. While affordability and credit checks still apply, lenders also assess residual value assumptions and how you intend to settle the balloon. This can involve refinancing, selling the asset or paying the balloon from retained cash. Terms for balloon or optional end structures are often 36 to 72 months, with pricing influenced by term length, deposit and the deal configuration. For higher value requests, including £900,000-scale needs, lenders may be able to consider options where the monthly payment target drives the structure.