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Hire Purchase

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A Hire Purchase offers a longer term to make repayments. Hire Purchase is only to purchase assets. The lender owns such asset until the end of the finance term agreed.

Loan Amount

$5k – $2m

Time To Funds

7 – 14 Days

Loan Term

1 – 7 Years

Interest Rate

4.6% – 15%

✔ Advantages:

  • It offers the choice of making repayments best suited to your cash flow needs.
  • At the end of the financial term you will own the asset.
  • GST credits may be able to claim

❌ Disadvantages:

  • A deposit is usually needed, and this may impact the business cash flow.
  • It incurs a higher interest rates plus fees than a traditional loan.
  • The asset is owned by the lender until the end of the contract.
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Company

  • Easy Park Australia ABN: 55 213 040 116
  • Made with ❤️ in Australia

Advance funds is owned by Easy Park Australia ABN: 55 213 040 116 acts under a fund facilitator / commercial aggregator. This content does not constitute legal, tax or financial advice. Please contact your advisor for more information.Products, features and info shown are general in nature and may vary depending on individual situations, please refer to loan contract/offer for terms relevant to you.