Sprintlaw offers smart, simple and affordable legal solutions for small businesses and startups.
Hire Purchase Agreements, quick & stress-free.
Sprintlaw offers smart, simple and affordable legal solutions for small businesses and startups.
5.0
(based on Google Reviews)
“They’ve helped us tremendously and are seriously knowledgeable and honest. Couldn’t recommend the crew at Sprintlaw more!” - Amit, Soul Burger
We'll get back to you within 1 business day.
Proceeding confirms you agree to our Privacy Policy
we do it better
What is a Hire Purchase Agreement?
A Hire Purchase Agreement is an agreement under which a party hiring equipment (the ‘hiree’) agrees to pay the hirer fees over a set period, usually with fixed regular payments. Once the final payment is made, the ownership of the equipment will transfer to the hiree.
A Hire Purchase Agreement drafted to meet your specific requirements
Phone consultations with our expert lawyers
Fast turnarounds
Fixed-fee pricing
sprintlaw
A Hire Purchase Agreement is a type of financing contract that allows an individual or business to acquire an asset, such as a vehicle or equipment, by making regular payments over time rather than paying the full amount upfront. Under this arrangement, the lender or finance company retains ownership of the asset during the payment period, while the purchaser has the right to use it. Once all scheduled payments have been made, ownership of the asset transfers to the purchaser.
This arrangement is popular for those who need access to valuable assets without a large initial outlay, providing a pathway to eventual ownership while spreading the cost over a manageable period.
A Hire Purchase Agreement is accessible to a range of customers, including individuals, businesses, and organisations looking to acquire assets without paying the full amount upfront. However, eligibility requirements and suitability may vary depending on the provider, asset type, and financial profile of the customer. Here’s a breakdown of who can typically enter into a Hire Purchase Agreement:
In summary, hire purchase agreements are versatile and accessible to a broad audience, but eligibility typically hinges on creditworthiness, income stability, and the nature of the asset. This financing option is popular among individuals needing flexibility, businesses managing cash flow, and organisations aiming to acquire assets in a financially sustainable way.
In a Hire Purchase Agreement, a finance company or lender (the hirer) purchases an asset on behalf of the customer (the hiree). The hiree then pays back the cost of the asset through fixed, regular payments over a set period. While making these payments, the hiree has full use of the asset but does not own it. Ownership of the asset is only transferred to the hiree once the final payment is completed.
Typically, the agreement will outline details such as the description of the asset, the payment schedule, interest rates, and the rights and responsibilities of both the hirer and hiree. This arrangement allows the hiree to access the asset immediately, with the option of eventual ownership once all payments have been made.
A Hire Purchase Agreement typically includes several essential components to ensure clarity and protect both parties’ interests. Key elements often covered are:
Including these elements ensures a comprehensive, clear Hire Purchase Agreement, protecting the rights of both parties and establishing a clear path to ownership.
Our fixed-fee Hire Purchase Agreement packages start at $1700 + GST. This includes a Hire Purchase Agreement drafted to meet your specific requirements, phone consultations with a Sprintlaw lawyer, and a complimentary amendment to the final draft we provide to you.
As an online law firm, we eliminate the headaches of paying us by the hour and finding time to meet with a lawyer in person. We communicate via phone, email and cloud conferencing — whichever suits you! We know you’re busy, so we’re only a click away. You’ll be guided through this process by our expert lawyers, who are Australian-qualified and were trained at leading law firms. They left the traditional corporate law sphere to help us make legal services better. Our lawyers specialise in technology, intellectual property, contract drafting, corporate and commercial law.
Our law firm operates completely online, which means we can help you wherever you are in Australia. We work at The Commons Central – a cool co-working space in Chippendale, Sydney – but our lawyers often work flexibly across various locations.
why sprintlaw
We’re an award-winning, totally online law firm. Forget the hassle of meeting a lawyer face-to-face. Our top-trained lawyers are ready to help wherever you are in Australia.
how it works
our team
Our lawyers were recruited from Australia's top firms and use our custom-built technology to provide a better and more affordable legal service.
how it works
1 / Get a free quote
Our legally trained consultants will prepare a fixed-fee quote for you.
2 / Accept online
Accept your fixed-fee quote and e-sign our engagement letter.
3 / Speak with a lawyer
Our expert lawyers will talk you through your project via phone, video call or whatever suits!
That's it!
Receive your completed project, usually within 5 - 10 working days.
Adapt Leadership
“Can't speak highly enough of my experience with Sprintlaw - quality advice, fast and efficient responsiveness and a professional product.”
Kiindred
“I had a fantastic experience with Sprintlaw - it was easy, cost-effective and their lawyers provided very high quality advice. I could tell they really cared about my business.”
Soul Burger
“They’ve helped us tremendously and are seriously knowledgeable and honest. Couldn’t recommend the crew at Sprintlaw more!”