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How they differ
With a loan (or hire purchase) you buy the asset and own it, sometimes at the end of the term. With a lease you effectively rent it, returning or upgrading it later. See asset finance.
When each fits
A loan or hire purchase suits assets you want to keep long term. A lease suits assets that date quickly or that you prefer to upgrade regularly, keeping capital free. Match the method to how long the asset stays useful to you.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Is leasing cheaper than a loan?
Not necessarily — it depends on the terms and how long you keep the asset. Leasing keeps capital free and suits assets you upgrade often; a loan suits assets you want to own.
Do I own the asset with a lease?
Generally no — a lease is closer to renting. Hire purchase, by contrast, leads to ownership once the payments are complete.
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.