We help you set up secure and compliant hire purchase finance arrangements starting from just INR 2,999/- only.
Trusted by many clients across India for legal drafting and finance documentation services.
Fast | Simple | Reliable
A Hire Purchase is a financial arrangement where the buyer hires goods from the owner (financier) and agrees to pay for them in fixed installments. Ownership of the goods is transferred to the buyer only after the final payment is made.
It is commonly used to purchase vehicles, machinery, and business equipment through structured monthly or quarterly payments.
Under the Hire Purchase Act, 1972, this model combines the elements of both leasing and sale. Until the last installment is paid, the goods legally belong to the financier, even though the hirer has full use of them.
At Ebizfiling, we assist in preparing the Hire Purchase Agreement, verifying documents, ensuring compliance with RBI and accounting standards, and helping both parties register and execute the agreement correctly.
Businesses or MSMEs buying machinery or vehicles on installment basis.
Transport companies purchasing vehicles under finance schemes.
Dealers or distributors providing goods under deferred payment.
Individuals acquiring cars, equipment, or furniture through financing.
Financiers or NBFCs providing hire purchase facilities to customers.
At Ebizfiling, we provide end-to-end assistance for setting up legally valid and customized Hire Purchase Agreements that protect the interests of both the buyer and the financier. Our team helps you structure your hire purchase finance arrangement, ensuring that every term and condition complies with the Hire Purchase Act, 1972 and the Indian Contract Act, 1872.
We handle the entire documentation process – from preparing, verifying, and registering the agreement to guiding both parties through ownership transfer and payment terms. Every agreement is drafted by experienced professionals to ensure legal accuracy and enforceability.
With a fully secure online process, transparent pricing, and expert compliance support, Ebizfiling ensures your hire purchase transaction is simple, legally sound, and completely reliable from start to finish. Along with this service, we also offer Specific Power of attorney, Mortgage Deed, Foreign Collaboration Agreement and Non Disclosure Agreement.
You may get in touch with our compliance manager on 09643203209 or email info@ebizfiling.com for free consultation and to know more about the services provided by us.
(All Inclusive)
Buyer gains possession of assets immediately and ownership after the final payment is made.
Businesses can acquire expensive assets without paying the full amount upfront.
A written agreement ensures both buyer and financier are protected under law.
Payments are structured and predictable, helping in better financial planning.
Allows companies to use assets instantly, boosting productivity and expansion.
Consistent payments improve business creditworthiness and borrowing capacity.
PAN and Aadhaar of hirer and owner
Business registration certificate (if applicable)
Quotation or invoice of the asset
Bank statements for the last 6 months
Proof of address of both parties
Draft of proposed Hire Purchase Agreement
Consent letter between hirer and financier
Identity proof of witnesses
Application & Evaluation
Agreement Drafting
Document Verification
Execution & Signing
Registration & Delivery
Drafts accurate and legally valid Hire Purchase Agreement.
Ensures compliance with Hire Purchase Act, 1972 and RBI guidelines.
Helps set up secure hire purchase finance structures for businesses.
Reviews ownership transfer and installment terms for both parties.
Handles execution and registration of the agreement.
Provides expert consultation for tax and accounting treatment.
Maintains complete confidentiality of client documents.
Offers post-agreement assistance and renewal support.
It is a contract where the buyer hires goods and pays in installments, gaining ownership after the final payment.
The owner (financier) and the hirer (buyer) are the main parties to the agreement.
No, ownership transfers only after the final installment is fully paid.
Vehicles, machinery, furniture, and office equipment are commonly financed under hire purchase.
No, in hire purchase ownership transfers after final payment, while in leasing it remains with the lessor.
Hire purchase is governed by the Hire Purchase Act, 1972 and the Indian Contract Act, 1872.
Yes, individuals can use hire purchase to buy personal vehicles or household appliances.
Yes, interest rates and installment amounts are fixed and clearly mentioned in the agreement.
The owner has the legal right to repossess the goods and terminate the agreement.
Yes, for high-value or commercial assets, registration of the agreement is recommended.
Yes, either party may terminate the agreement as per the terms and conditions specified.
Usually, insurance is taken in the owner’s name but the cost is borne by the hirer.
No, the hirer cannot sell or transfer the asset until ownership is legally transferred.
Yes, many banks and NBFCs offer hire purchase facilities for used commercial vehicles.
Yes, GST applies depending on the type of goods and the financing structure.
Yes, we provide complete drafting, review, and registration assistance for hire purchase agreements.
The tenure generally ranges from 12 to 60 months, depending on the asset type.
The asset is recorded as a fixed asset, while the liability reduces with each installment payment.
Early payment allows early transfer of ownership, subject to the agreement terms.
We ensure legally compliant, customized agreements with professional support from start to finish.
We help you set up secure and compliant hire purchase finance arrangements starting from just INR 2,999/- only.
Trusted by many clients across India for legal drafting and finance documentation services.
I have a great experience with Ebizzfiling for our annual compliance. The entire process was smooth, well-managed, and completed on time. Their support team is excellent always responsive and helpful. I'm very happy with the service provided.
Very efficient service to get yourself registered with your Business. Had a very good experience.
Charges are very affordable and One of the fastest & bestest service I ever get and miss Snehal is too corporative and very dedicated I had recommended to all my colleagues even they also like thier services.
