Ford Hire Purchase
Flexible deposit, fixed or variable interest rates and ownership of the vehicle
Hire Purchase is one of the most common forms of financing a vehicle. With an SMC Ford Hire Purchase Agreement, you pay a deposit (the actual amount is negotiable) and all remaining costs are repaid by your monthly payments. Unlike a Lease Agreement, the residual value of the vehicle is not taken into account - your monthly payments are determined by the retail price of the vehicle, the size of the deposit and the length of the contract. With Hire Purchase, you can also choose from fixed or variable interest rates.
Benefits of Hire Purchase for you:
- Ownership of vehicle
- Flexible deposit
- Repayments over a fixed period
- Fixed or variable interest rates
- Payments not subject to VAT
- Interest may be allowable against taxable profits
- Writing down allowances are claimable
- Vehicle appears as an asset on your balance sheet
- An additional line of credit
- Repayments in advance or arrears
To find out more about a Hire Purchase Agreement for your next Ford, please contact SMC Ford today.
