What Are Hire Purchase Agreements

You need a good credit rating to get rental offers at the lowest interest rates and always check the total refundable amount if you compare the lease-purchase with other financing methods. Car Rental (HP) is a car finance plan. After paying a relatively low down payment, rent your car with the option to buy it until the end of the contract. Here are the facts you need to decide if a rental-sale contract might be the right car purchase option for you. 14. The tenant cannot rent or lend these machines and equipment on another basis or allow them to be used by another person without the prior written consent of the company, and must not align them with a person to ensure payment of the money. 20. If the tenant violates a clause in this agreement or does not pay two monthly rental fees, the company has the right to terminate the contract by informing him one month in advance and unless the infringement is corrected and the rental costs are eventually paid. this contract expires at the end of the notice period.

If the contract is terminated as mentioned above, the tenant`s option to purchase remains, as it later, cancelled or cancelled. 25. The tenant has the opportunity to acquire these machines and equipment, and the option is exercised by notifying the company one month in advance. The option to purchase may be exercised from the expiry date of the agreed deadline for this contract or from an earlier date. In the first case, the tenant is required to pay the company an amount equal to the rental price of the machines and equipment referred to in the point (3), reduced by the total amount of payments up to that date or the higher rupee. In the latter case, that is, if the option to purchase is exercised before the term of the contract expires, the tenant is required to pay an amount equal to the purchase price of the rent or the balance of the rent, payable in monthly increments of the rental costs up to the date of the agreed term of the contract, since it is reduced by a discount corresponding to two thirds of an amount corresponding to the rental costs. the same share as the balance of the rental sale price that has not been due until now applies to the purchase price of the lease. AND CONSIDÉRANT that the tenant asked the company to rent the machines and equipment mentioned to allow the tenant to manufacture … with an option for the tenant to buy the same thing. 8.

The tenant undertakes to compensate and compensate the business for any loss to the business as a result of damage to these machines and facilities for any reason. Leasing (HP) is a type of loan. It differs from other types of borrowing, because you don`t own the goods until you have fully paid.