What is a commercial hire purchase?

A quick overview

Commercial hire purchase – Pay for the asset in installments and own it later.

A commercial hire purchase, sometimes called “rent to own”, is exactly what the name suggests. It’s a type of finance arrangement where the business hires the asset from the lender and pays a recurring fee to do so. The lender owns the asset initially but at the end of the term, the business will become the owner. With a commercial hire purchase loan, a business can claim GST, interest, and depreciation.