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HIRE PURCHASE OPTIONS
| fixed rate | variable rate | contract purchase |
| Fixed rate of interest agreed day one |
% above a base fluctuating rate |
Fixed rate of interest agreed day one |
| On balance sheet | On balance sheet | On balance sheet |
| Fixed capital & interest payments for accurate budgeting |
Fixed capital interest monthly or quarterly |
Fixed capital & interest payments for accurate budgeting |
| Hedge against inflation & interest rate increases |
Save when rates fall | Hedge against inflation & interest rate increases |
| Annual investment allowance | Annual investment allowance | Annual investment allowance |
| No cost for early settlement | Lower fixed payment due to balloon residual |
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| Can pay off lump sums | Flexible end of term options i) keep machine - pay off balloon ii) keep machine - refinance balloon iii) return machine |
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| Can be linked to maintenance package |
Can be linked to maintenance package |
Can be linked to fixed cost maintenance package |