Help us spread the cost of your purchases on both new and used machines.
McGrath Bakery Services are pleased to now offer business customers finance and leasing across both UK and ROI in partnership with Consero Finance.
The key difference between a lease agreement and a hire purchase finance agreement is that at the end of a lease, you return the asset and at the end of an HP, you have the option to purchase and keep the asset if you so choose. This type of agreement is only available to business customers – including limited companies, self-employed people and sole traders; it is not available to private individuals.
Leasing/Hire Purchase Benefits:
- Maintaining Cash Flows
Preserving working capital will allow your business to reallocate your cash to areas that
generate greater returns than equipment purchases. - Access to Product Upgrades
Leasing upgrades ensure that your business can switch to advanced products without
being stuck with obsolete technology or old equipment. Moreover, spreading the
equipment payment over time would mean your business pay as they use the product. - Ease and Flexibility
You have the option to pay on a monthly or quarterly basis via direct debit. Our asset financing
products are highly flexible and versatile.
Want to find out more?
Differences between Leasing and Hire Purchase
Leasing
Terms: 12-84 months depending on the asset
Deposit: No deposit required
VAT: Payable with each monthly or quarterly
leasing instalment
Interest Rate: Fixed amount for the duration of the agreement
End of Term: Continue to lease or upgrade and start a new lease.
Hire Purchase
Terms: 12-84 months depending on the asset
Deposit: 10% deposit is usually required
VAT: Total VAT is paid at the start of the
agreement
Interest Rate: Fixed amount for the duration of the agreement
End of Term:Title of the equipment will pass onto customer