Exploring Your Options: Lease, Contract Hire, or Hire Purchase for Business Assets
Thinking about investing in new business equipment or a company vehicle? The choices can be overwhelming. That’s why we’ve broken down three popular financing options – leasing, contract hire, and hire purchase – to help you make an informed decision without the financial jargon.
Leasing allows you to rent assets with low upfront costs and easily upgrade to newer models. Contract hire, ideal for vehicles, includes maintenance in fixed monthly payments. With hire purchase, you own the asset after making regular payments.
Each option has its pros and cons, impacting cash flow, ownership, and long-term costs. Consider your business needs and financial goals to choose wisely.
Continue reading in more detail on our blog for a deeper dive into each option and discover which one suits your business best!
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