Marine Commercial Hire Purchase
Commercial Hire Purchase (CHP) is also known as a Corporate Hire Purchase, Hire Purchase or Offer To Hire, and is often abbreviated as CHP or HP.
How does a Marine Commercial Hire Purchase work?
Under a Commercial Hire Purchase (CHP) arrangement the financier agrees to purchase the boat on your behalf, and then hire it back to you over a set term.
You have use of the boat for the term of the contract but you are not the owner.
You take full ownership of the boat at the end of the term when the total price of the boat (minus any residual) and the interest charges have been paid in full.
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