Asset Finance > Products

Hire Purchase

• Deposit, followed by monthly payments over a set period of  time.
• Interest can be fixed or variable.
• Legal title is passed once all payments have been made.

 

Benefits
• Reduces capital outlay.
• Writing down allowances can be claimed against taxable profits.
• Interest charges are tax deductible.
• Asset can be shown on balance sheet.
• Ownership.

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Finance Lease

• A rental facility whereby the lessor retains title to the asset.
• Payments are subject to VAT.
• At the end of the primary period,option to enter a secondary period 
  or dispose of the asset.

 

Benefits

• Improved cash flow, as VAT is paid on purchase price by lessor.
• Rentals are tax deductible (may be restricted depending upon asset type).
• VAT can be reclaimed on rentals.
• Shown on balance sheet.
• Fixed monthly costs.

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       ... choose Ignition Credit