Hire Purchase

How Hire Purchase works

Decide the amount you would like to put down as a deposit on your chosen smart and confirm the term of your agreement. Throughout the agreement you pay the regular instalments over the agreed term until the remainder of its value is repaid.

Alternatively you could opt for a Hire Purchase agreement with a final lump sum payment. This option features a large payment you defer until the end of the agreement. When all the payments, including the lump sum, have been made you will own the bus.

All you have to decide is whether you want lower monthly payments with a lump sum payment at the end or simple fixed payments over an agreed term. 

  • Once you have paid the option to purchase fee you will own the vehicle.
  • Fixed regular payments means you can easily budget.
  • A flexible deposit and repayment term means you can tailor the financial agreement to suit you.
  • Monthly payments are not based on annual mileage.
  • The vehicle is an asset on the balance sheet, therefore tax allowances may be deducted from taxable profits.

At the end of your agreement