How does an Equipment Commercial Hire Purchase work?
- Under a Commercial Hire Purchase (CHP) arrangement the financier agrees to purchase the equipment on your behalf, and then hires it back to you over a set term.
- You have use of the equipment for the term of the contract but you are not the owner.
- You take full ownership of the equipment at the end of term when the total price of the equipment (minus any residual) and the interest charges have been paid in full.