LOW RATES FROM 5.99 APR
Hire purchase is the ideal solution if you want to spread the cost of purchasing a vehicle, across affordable monthly repayments. You choose how much you want to borrow over an agreed period. And the repayments and interest are divided equally into fixed monthly installments. At the end of your agreement, the car is yours. You also have the option to pay off the total amount early if your circumstances change.
In most cases, lenders will look more favourably on people with a higher credit score. If that’s you - good news! A strong credit profile will normally result in lower interest rates, helping to reduce the overall cost of your loan. And if you haven’t got a perfect score, you can easily turn things around with a little work. To access the best possible rates, try our Complete Guide for top tips to help you improve your credit score, and maintain it.
Whether you’re wishing to buy a horse trailer or something larger with 4 or 6 stalls Get in touch
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We work to provide horsebox finance for both businesses and private buyers. With our small, professional team guiding you every step of the way, you’re guaranteed to receive a unique, customer-focused service from start to finish. Our dedicated team are committed to providing quick and informed decisions – to save you time and money.
Horseboxes can often carry high sale prices and therefore conventional hire purchase agreements are sometimes unsuitable. If you a wanting to purchase a high value horsebox on a hire purchase agreement you may find that the monthly repayments make the purchase unfeasible. In an effort to reduce monthly repayments you may consider: putting down a larger deposit, looking to arrange a longer term or a balloon payment… read more about Balloon Payments
Here at E&R Finance we understand that no two applications are the same – and that’s why we have a variety of flexible finance options to suit a range of vehicles from motorhomes and 3.5 ton horseboxes to 26 ton equestrian trucks.
If you’re looking for exceptional customer service on your journey to finding a competitive finance deal, contact E&R Finance today. Our financing experts will help you every step of the way – working to offer fair, manageable and low-interest loan deals.
We work with a large range of lenders to source the most suitable finance packages to suit your needs.
Buying a horsebox for business purposes or through a business is no problem. If you are a business, this appears on your balance sheet as an asset from day one.
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A balloon payment is a lump sum owed to the lender at the end of a finance agreement. Loans with a balloon payment option typically result in lower monthly repayments, as you’re deferring part of the cost to the end of the contract.
Your balloon payment is calculated by the lender at the start of your agreement. This is the resale value the lender predicts your vehicle to be worth at the end of your contract. Your balloon payment is fixed at the start of your agreement and will not change, regardless of whether used car values fluctuate.
At the start of the term the lender will value the horsebox and then calculate the residual value of the vehicle, (this is a prediction of what the horsebox will be worth at the end of the agreement). The purchaser will pay regular monthly repayments until the end of the term at which time they will need to pay the finance provider the residual value or balloon payment in one lump sum.
To illustrate the process; if a customer wishes to pay £100,000 for a horsebox, the lender may calculate the residual value or balloon payment to be £35,000. The customer will then pay monthly repayments on the balance £65,000 over the agreed term (often between 3-5 years) and at the end of the term the customer pays a lump sum of £35,000 to the lender.
Like a conventional hire purchase agreement, you are still free to contact the lender for a settlement figure at any time in case you decide to sell or upgrade your horsebox before the end of the term. You are also eligible to make part settlements so if you find that you have managed to save a few thousand pounds up you will be able to reduce your monthly payment or shorten the term that you have remaining to pay.
We want to give you a quote that’s as accurate as possible. To do this we’re going to need the usual information you’d expect to give when you’re applying for credit of any kind, that’s your name, date of birth and employment details, that kind of thing.
We can give you an idea of what you’ll be paying. If you’re not ready to have a quote yet, but would still like a very rough idea of what you could be paying, without having to give us all your details. If you want a more accurate figure, we’d be happy to give you a quote. This takes a little longer because we need a few more details from you. But the monthly figure we quote will be more realistic, if you decide to use finance to buy your next horsebox.
From £5,000 to 250,000 However, not everyone will be able to get £250,000. What you will be able to borrow depends on a number of factors, including how much you earn, what you already owe to other people, and how good your credit score is. So, we can’t tell you how much you may be able to borrow until we’ve spoken to you and found out more about your situation. We can then use that information to create an accurate quote for you.