JCB launches interest free finance scheme for used machines


JCB Finance has launched a two year interest free hire purchase scheme for used JCB machines held in stock by the UK JCB dealer network.

There is no upper limit for how much can be borrowed after a 20% deposit has been paid and the machine must not become greater than 10 years old during the period of the finance agreement. Normal terms and conditions apply and the scheme is subject to availability through participating JCB dealers.

JCB Finance’s managing director, Paul Jennings, explained, “Deals need to be transacted before the end of September 2015 and a budget has been set so time is of the essence if you want to enjoy interest free finance on a used JCB. This is a landmark event in the history of JCB but providing finance for used JCB equipment is something we’ve been doing for over 45 years and interest free finance will certainly help our customers.”

Mr Jennings also pointed out that by selecting a Hire Purchase facility customers could still be eligible to take advantage of the Government’s £500,000 Annual Investment Allowance (AIA) scheme. For every £1 spent on plant and machinery there is the potential to save £1 in taxable profits. He added, “There has never been a better time to buy with the AIA and Interest Free finance. The AIA potentially offers the equivalent of a 20%-45% discount depending on the business’ rate of tax but time is running out because the AIA is scheduled to fall to only £25,000 on the 1st January 2016.”