FINANCE
If you would like to finance your purchase, we have partnered with Sussex Asset Finance who deal with the UK’s leading finance companies. Whatever your requirements, they can offer a package that is individually tailored to your needs.
Lease Purchase
What is it?
This is a more flexible form of the purchase agreement and a popular choice of finance. The initial deposit can be structured to meet your requirements and budget, you may be able to trade in your existing horsebox and put this towards the initial deposit, or if you wish, just put down a cash deposit. A final lump sum balloon payment option is available if you would rather make lower repayments throughout the agreement, the term would be 5 years with the balloon payment taken at the end of the term. The balloon payment is calculated on the anticipated value of the horsebox at the end of the agreement.
How does it work?
We will structure the agreement to meet your requirements based on the horsebox, your deposit and your monthly budget.
After paying the deposit you make regular monthly payments and any balloon payment, to repay the amount borrowed plus any interest and fees.
The interest rate is fixed which means you’ll know exactly how much you will repay throughout the term of the agreement.
At the end of the monthly payment period, you have two options. You can retain the horsebox (simply pay the balloon payment, and the horsebox is yours) or renew the horsebox (choose another horsebox, using any equity towards your deposit).
Features and Benefits
Provides lower fixed monthly payments by offering the option of a balloon on the final repayment.
Payments are not subject to VAT since this type of agreement is a purchase plan.
This type of agreement is covered by the Consumer Credit Act 1974, which means you can pay off lump sum amounts during the agreement.
You can settle the agreement early by repaying the required amount.
Hire Purchase
What is it?
A simple way of financing that gives you the certainty of a fixed interest rate, and fixed monthly payments throughout the agreement. The initial deposit and repayment period can be structured to help meet your budget and the length of time you expect to keep the horsebox. You may be able to trade in your existing horsebox and put this towards the initial deposit, or if you wish, just put down a cash deposit. We can arrange finance to be paid over any term from 3 years to a maximum of 10 years, dependant on the age of the horsebox.
How does it work?
We will structure the agreement to meet your individual requirements based on the horsebox, the agreement duration required, the available deposit and your monthly budget.
After paying the initial deposit you make regular monthly payments to cover the amount borrowed plus any interest and fees.
The interest rate is fixed which means you’ll know exactly how much you will repay throughout the term of the agreement.
Once all of the payments have been paid the horsebox is yours.
Features and Benefits
A guaranteed fixed monthly payment, allowing you to budget with confidence.
This type of agreement is covered by the Consumer Credit Act 1974, which means you can pay off lump sum amounts during the agreement.
You can settle the agreement early by repaying the required amount.
Whichever type of agreement you choose our aim at Empire Coachbuilders is to provide a solution that puts you into the best possible position, should you wish to change your horsebox during the agreement or at the end of the agreement as we want to secure more business with you in the future and build long-standing relationships with all our clients.
For more information, please call or email us on:
Sussex Asset Finance Ltd 01444 246000