Commercial Hire Purchase
Under a Commercial Hire Purchase, the hirer contracts to pay hire charges for a fixed period at the end of which the legal title to the property passes to the hirer. Until all the hire charges have been paid, legal title remains with the owner (Financier).
Under a Commercial Hire Purchase arrangement the Hirer may be entitled to taxation claims, however, you should seek your own independent taxation advice, as this may not be applicable to your situation.
Hire payment options
- BOQ Equipment Finance Limited provides various types of hire purchase repayment options.
- Equal Rentals is the standard form of calculation and provides for equal monthly rental instalments in advance or arrears.
- Seasonal Rentals cover many varied structures which can be designed so that rental instalments are payable at any nominated interval during the term to suit a client's particular needs or, more importantly, its cash flow.
- Balloon/Bulk Payments can be included at the end of your contract. You may then choose to re-hire the goods or pay this amount and take full possession and ownership of the goods.
Fees and charges
There are some associated Government charges and costs, which vary from State to State, in addition to our fees and charges.
To apply for an equipment loan visit one of our convenient locations or call one of our friendly customer service consultants on 1300 55 72 72.