Agricultural Hire Purchase
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Funding the agribusiness asset you need with the flexibility of a cash buyer
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Benefits
Features
Important Facts
Your agribusiness has cash flow requirements that need to be met if it is to grow and prosper. Agricultural Hire Purchase, sometimes referred to as Lease Purchase, offers you the opportunity to pay a supplier for an asset without outright purchase at the start. Offered to businesses operating within the farming sector, enabling you to purchase farm equipment, motor vehicles and business equipment with the freedom and flexibility of a cash buyer.
How it works
Through pre-arranged finance you can buy an agribusiness asset in the same way as a cash buyer. With a low initial outlay and flexible payment patterns tailored to your farming business, there's no VAT on repayments. At the end of the agreement, title will pass onto you after payment of the completion fee. Your cash flow could also be improved by deferring the payment of VAT on your purchase.
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Benefits
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- Personal attention - dedicated pro-active relationship management
- Freedom - of a cash buyer with pre-arranged finance
- Flexibility - choose the repayment option that best suits your needs or cashflow
- Ownership - at the end of the term, title to the asset is re-assigned back to you for a nominated completion fee
- Choice - wide range of products and suppliers
- Cash flow - option to defer VAT on purchases allows improved cash flow
- Tax benefits - interest charges can be offset against taxable profits and capital allowances can be claimed
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Features
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- Competitive fixed or variable interest rates
- Fixed or variable term
- Goods are treated as assets on the balance sheet from the start of the agreement
- Personal attention - dedicated Relationship Partner who can make decisions - fast
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Complementary solutions
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Important facts
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Interest rate
- Available on application - individually negotiated with your Relationship Partner
Interest type
How is interest calculated?
How is interest charged?
- Flexible repayment periods available to suit your business needs
Minimum Term
Maximum Term
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What it costs
- Documentation Fee - paid at the outset of the transaction
- Completion Fee - paid to transfer ownership at the end of the transaction
- Full fees and charges - available from your Relationship Partner
Terms and conditions
- A deposit may be required
- You claim capital allowances
- Security may be required
- It is your responsibility for the ongoing maintenance of the asset
- All terms and conditions are available on request
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Yorkshire Bank is a trading name of Clydesdale Bank PLC which is authorised and regulated by the Financial Services Authority. Credit facilities other than regulated mortgages are not regulated by the Financial Services Authority. Clydesdale Bank PLC, Registered in Scotland (No. SC001111), Registered Office: 30 St Vincent Place, Glasgow, G1 2HL. A member of the National Australia Bank Group of companies.
The value of any tax benefits to you depends on your individual circumstances, the law and Inland Revenue practice, which are subject to change.
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