Balanced Payments Plan
A Balanced Payment Plan offers the benefits of a fixed monthly payment, however unlike Hire Purchase, where the interest is fixed, Balanced Payments tracks the changes in the finance house base rate, LIBOR or bank base, depending on the agreement. As rates fall or rise over the period of the contract, so does the interest charge you pay.
How does it work?
You pay an initial deposit and pay the balance in fixed monthly instalments over an agreed term (12-60 months). At the end of the term any variation of interest is reconciled and will be settled as either a credit to you, or a charge.
Other options available with Balanced Payment Plan include a deferred final ‘balloon’ payment and the ability to make sump sum reductions during the agreement.
The benefits of Balanced Payment Plan
Low deposit - doesn't tie up cash reserves
Control - the asset is yours at the end of the agreement
Flexible - optional lump sum over payments and minimum interest penalty options for early settlement
Fixed payment - makes budgeting simple
Seasonal Profile - repayments tailored to suit your cash flow
Tax benefits - you can claim writing-down allowances and interest may be offset against profits
Potential savings - benefit from linking to current low base rates
VAT free - you reclaim the VAT on the purchase price and there is no VAT on payments
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Provide us with some information about the equipment you want and we'll send you a personalised quotation. -
On receipt of some details of your business, we will arrange a no-obligation credit facility for you, valid for 90 days. -
We will liaise with your supplier and arrange release of funds in time for delivery
Request A Quote
Tell us what equipment you want and we will provide you with a FREE quotation
