How does Hire Purchase compare to Finance Lease or Contract Hire?

The key difference is ownership. Hire Purchase van finance gives you full ownership at the end of the term, while Finance Lease and Contract Hire do not, as you're effectively renting the van. HP is generally the better choice if you want to build a company asset, have no mileage restrictions, and plan to keep the van for the long term. Finance Lease and Contract Hire tend to offer lower monthly payments and more flexibility to upgrade at the end of the term. Our finance team can help you compare options and find the right fit for your business.