Hire Purchase
Hire purchase is a traditional form of asset finance and a product which provides the client with the immediate use of the equipment or vehicle, whilst also permitting the option to purchase the product at the end of the period of hire for a pre-agreed sum. All other benefits and risks of economic ownership rest with the client.
How it works?
Choose your equipment or vehicle.
Following the approval of your application and the commencement of the agreement you will be entitled to the quiet use of the goods. In practice the supplier of the equipment would normally invoice the equipment or vehicle to Arkle. Arkle then sign a Hire Purchase agreement with you. Please note that a typical deposit of 10% and the VAT attributed to the cost of the goods is normally paid the outset. Please enquire about alternative deposit arrangements.
You’ll make regular rental payments over a fixed period of time, including fixed interest charges.
Once all the repayments are made, you can pay an Option to Purchase fee to buy the asset.
If you wish to sell your goods before the end of your Hire
Purchase agreement, you’ll need to ask us for our permission.
What’s so good about this product?
More financial products
Marine Mortgage
A marine mortgage is a loan agreement where the boat is offered as security. We have an experienced marine finance team who understand boats and are keen to listen and help with your boating plans.
GGS
Arkle Finance offer Asset Finance transactions through the British Business Bank Growth Guarantee Scheme. Please talk to your Arkle Approved Commercial Finance Broker for more detail on how to apply for one of our products.
Finance Lease
Similar to a Fixed Term rental agreement but aimed at longer life assets, a Finance Lease allows for the hire of goods for an agreed period of time where payments are made in return for the use of equipment or vehicles.
Aviation Mortgage
For the light airplanes and helicopters that we finance we provide a mortgage which is secured against the aircraft you are purchasing. The aircraft we finance are typically 2-6 seaters, based in the UK and on the UK register.
Why Choose Arkle Finance?
Here are some good reasons to select AFL as a finance partner.
Great Customer Experience
We provide a transparent and supportive service to both our customers and suppliers.
Professional & Trustworthy
We’re an ethical and trustworthy lender who communicates clearly without the jargon. We aim to lend responsibly whilst treating our customers and stakeholders fairly.