Asset Finance
Hire purchase Ireland
Hire purchase finance allows businesses in Ireland to acquire vehicles, machinery and equipment through structured repayments over an agreed term, with ownership transferring at the end of the agreement.
the process
How hire purchase works
Hire purchase allows businesses in Ireland to acquire equipment, vehicles or machinery through fixed repayments over an agreed term.
The asset is purchased on behalf of the business and used throughout the agreement. Once all repayments are completed in line with the agreement terms, ownership transfers to the business.
Benefits of hire purchase
Spread the cost of equipment
Acquire essential business assets while spreading the cost through structured repayments.
Ownership at the end of the agreement
Once all repayments are completed, ownership of the asset transfers to the business.
Maintain working capital
Invest in vehicles, machinery or equipment while preserving cash flow for day-to-day operations.
Predictable repayments
Fixed repayment terms provide certainty and support financial planning.
Who we serve
Hire purchase for different business types
Hire purchase can support sole traders and partnerships investing in vehicles, machinery and equipment while managing cash flow and progressing towards ownership.
Sole traders and partnerships often use hire purchase to fund vehicles, plant and equipment required for day-to-day operations. The structured repayment model can support cash flow management while progressing towards ownership.
Hire purchase is commonly used by companies to invest in business assets, with ownership transferring once the agreement is completed.
Hire purchase can be used to finance a wide range of business assets
Agricultural equipment
Finance for tractors, farm machinery and equipment used in agricultural operations.
Plant & Machinery
Funding solutions for construction equipment, heavy machinery and specialist industrial assets.
Technology
Finance for IT hardware, technology systems and equipment supporting business operations.
Renewable Energy
Finance for solar installations, energy efficient systems and sustainable investment projects.
Medical Equipment
Funding for diagnostic equipment, medical devices and healthcare technology.
Manufacturing Equipment
Support for production machinery and equipment used in manufacturing environments.
Transport
Finance for vans, trucks and other vehicles used to support day-to-day business operations.
Frequently asked questions
What is hire purchase?
Hire purchase is a form of asset finance that allows businesses to spread the cost of equipment, vehicles or machinery over time, with ownership transferring at the end of the agreement.
Who can apply for hire purchase finance?
Hire purchase finance may be available to sole traders, partnerships and companies in Ireland, subject to eligibility and credit assessment.
What assets can be financed through hire purchase?
Hire purchase can be used to finance vehicles, machinery and equipment used in business operations.
When does ownership transfer?
Ownership transfers to the business once all repayments have been completed in line with the agreement.
How are applications assessed?
Applications are assessed based on financial information, affordability and the asset being financed.