Glasgow · Scotland
Business Hire Purchase in Glasgow
Spread the cost of the asset your company needs through hire purchase or leasing. For limited companies, LLPs and 4+ partner partnerships in Glasgow and across the Scotland.
See what your company can borrow
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At a glance
Business Hire Purchase in Glasgow: at a glance
Typical terms: 1–7 years
around 1–2 weeks
- Limited companies, LLPs and 4+ partner partnerships
- Often 12+ months trading
- The asset
- 1
Tell us what you need
3 taps: purpose, amount, business type. Takes 60 seconds, won’t affect your credit score.
- 2
We match you to lenders
Apply just once. We check your profile against lender criteria and approach only those likely to consider it.
- 3
Compare any offers
Compare the rate, fees, security and any personal guarantee side by side before final decision.
Lenders we work with
Local insight
How Glasgow companies use business hire purchase
Shipbuilding may no longer dominate the Clyde, but engineering remains central to Glasgow's economy. Marine and defence subcontractors, steel fabricators, precision engineers and renewable energy suppliers across the west of Scotland all rely on expensive machinery, from welding sets and cranes to CNC equipment and test rigs. Asset finance lets these companies spread investment over one to seven years, typically using hire purchase for long-life kit and leasing for technology that dates. The equipment normally acts as security. Amounts from around £5,000 to £1 million are available, including used machinery with clear value. Hire purchase and leasing work well in Scotland because the lender owns the asset; Scots law historically made fixed security over equipment difficult, although the statutory pledge introduced in 2025 now allows it. Welcome Finance handles Glasgow asset finance by phone and video.
Typical examples
Where it helps in Glasgow
- 01
Welding and cutting kit for a fabricator
A steel fabrication company in Govan invests in automated welding equipment on hire purchase.
- 02
Test rigs for a renewables supplier
An engineering firm supplying offshore wind projects leases test equipment for a new contract.
- 03
CNC machining for a precision engineer
A precision engineering business in Hillington adds a CNC lathe, spreading the cost over five years.
The process
How it works
- 01
Choose your asset
Select the new or used equipment or vehicle you need, and get a quote or invoice from the supplier.
- 02
Tell us what you need
Complete our 60-second eligibility check (it won’t affect your credit score), then share the asset details. We match you with lenders that fund that type of asset.
- 03
Lender assesses the deal
The lender reviews the asset, its expected resale value and your business, and runs its own credit checks. It may ask for a deposit, extra information or a director’s personal guarantee.
- 04
Supplier is paid, you use the asset
Once you sign, the lender pays the supplier and you make fixed monthly payments while the asset works for your business.
Calculator
Run the numbers
Estimated monthly payment
£1,663.76
- Deposit
- £7,500
- Amount financed
- £67,500
- Total interest
- £12,361
Illustrative only. Actual rates, fees and terms depend on your circumstances and the lender. This is not an offer of finance.
Local insight
Why Glasgow engineers and manufacturers use hire purchase
Advanced manufacturing is one of the Glasgow City Region's key sectors. On the Clyde, BAE Systems builds Type 26 frigates at its Govan and Scotstoun shipyards, a programme it says involves more than 120 British suppliers and about 1,700 jobs in Scotland. Next to Glasgow Airport, the Advanced Manufacturing Innovation District Scotland is home to the National Manufacturing Institute Scotland.
Source: Glasgow City Region, BAE Systems, 2023, Renfrewshire Council
Fabricators, machine shops and test houses working on defence, marine and energy contracts often need welding sets, CNC machines, lifting gear or inspection equipment before the contract income arrives. Hire purchase spreads that cost over the working life of the kit, typically with a deposit and fixed monthly payments, and the company owns the equipment once the final payment is made.
The tax position can help. Assets on hire purchase are generally treated as bought for capital allowances, so a company can usually claim full expensing on qualifying new main-rate plant and machinery while still paying in instalments. Scots law has also moved on: since 1 April 2025 the Moveable Transactions (Scotland) Act 2023 has allowed a new statutory pledge over certain moveable assets, created by registration rather than delivery. Hire purchase itself works as it always has, because the lender owns the asset until the agreement ends.
Business Hire Purchase in Glasgow: questions
Does hire purchase work differently in Scotland?
Not in any way most companies will notice. Because the lender owns the equipment until the final payment, hire purchase and leasing have long worked well under Scots law. Differences arise mainly where a lender wants extra security, such as a floating charge or the new statutory pledge, so lenders used to dealing with Scottish companies tend to move more smoothly.
Can a Glasgow engineering firm finance used equipment?
Often, yes, particularly machinery from recognised manufacturers with a clear resale value, such as CNC lathes, press brakes or welding systems. Lenders may ask for a valuation, an invoice from the seller and photographs, and they may limit the term for older machines. Buying from a dealer is usually simpler than a private sale between two companies.
We supply the Clyde shipyards. Will lenders take our contract pipeline into account?
They will look mainly at your accounts, bank statements and credit history, but evidence of ongoing work with a prime contractor or its main suppliers can support an application. Lenders may also ask how dependent you are on one customer. It helps to explain how the new equipment links to specific orders and when those orders are paid.
Can a renewables supplier in the west of Scotland finance test rigs and lifting equipment?
Usually, yes. Generators, compressors, lifting equipment and test rigs with a resale market are commonly financed on hire purchase. Highly bespoke rigs built for one project are harder, because a lender cannot easily resell them, so a larger deposit, a shorter term or a different type of finance may be suggested.
Does the new statutory pledge mean we can borrow against machinery we already own?
It gives lenders another way to take security over moveable assets in Scotland, but each lender decides whether to use it. Many asset finance lenders still prefer to refinance owned equipment through a sale and hire purchase back arrangement. Your solicitor can explain how any security would affect existing lenders, and all lending is subject to status.
More finance in Glasgow
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For UK limited companies, LLPs and partnerships of 4+ partners
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- For UK limited companies, LLPs and partnerships of 4+ partners
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