Business Hire Purchase

Important information

• All statements concerning taxation are based on best understanding of current legislation. Levels and basis of taxation can change at any time. This information does not constitute legal, tax, financial planning or any other advice.
• Once all regular fixed instalments and the purchase fee has been paid, you will automatically own the vehicle.
• There is no option to extend the term. You will need to insure and maintain the asset. You will need to pay all rentals including any larger final payment (“balloon payment”). You bear the risks and rewards associated with ownership of the asset. The asset and liability will be recorded on your balance sheet.
• Should you wish to terminate the agreement early, PTSB Asset Finance can provide you with an early termination figure. You should seek independent advice to determine if this product is suitable for you.
• Documentation Fee of €120.00 will be charged with the first repayment and an additional Purchase Fee of €63.33 payable with the final repayment. Additional fees may apply for early repayment of a fixed rate agreement or if an account falls into arrears.
• Available to over 18s only. Republic of Ireland only. Security and/or guarantees and indemnities may be required. Fees and charges apply. Lending criteria, terms and conditions apply. Subject to credit approval. Lending is for business purposes only.
• PTSB Asset Finance may also pay commission to Motor Dealers (acting as Credit Intermediaries) for new business finance originated through them.
• PTSB Asset Finance will appoint some suppliers as introducers of new business and will pay these suppliers a commission/fee for introducing the new business. Where a commission/fee has been paid to a supplier, it will be disclosed under the ‘Goods Details’ section of your Asset Finance Agreement.

  You may end your Agreement by giving notice to PTSB Asset Finance.

  You can then either

  • Purchase the car at the amount calculated within the Termination section of your finance Agreement; or

  • Paying any instalments that are in arrears at the time of your notice and a settlement figure. The amount of the settlement figure will depend on how much you have already paid in instalments. How this is calculated is detailed within the Termination section of the Agreement.