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Medical Equipment Finance · Hire Purchase

Medical Equipment hire purchase

Fund medical equipment on hire purchase and own it outright at the end of the term. Indicative rates From ~7.6% p.a. (prime borrower) — subject to credit.

Quick answer

Medical Equipment finance structured as hire purchase means you own it outright at the end of the term. Medical equipment finance funds clinical and diagnostic equipment for NZ GP practices, specialist clinics, dental practices, physiotherapy, optometry, labs, veterinary practices and hospitals. Common assets include imaging (ultrasound, x-ray, CT), dental chairs and CBCT, sterilisation units, lab analysers, surgical equipment, defibrillators and physio equipment.

Is hire purchase right for medical equipment?

Hire purchase lets you own the equipment at the end and claim depreciation — a fit for equipment that holds useful value well beyond the finance term.

About medical equipment finance

Medical equipment finance funds clinical and diagnostic equipment for NZ GP practices, specialist clinics, dental practices, physiotherapy, optometry, labs, veterinary practices and hospitals. Common assets include imaging (ultrasound, x-ray, CT), dental chairs and CBCT, sterilisation units, lab analysers, surgical equipment, defibrillators and physio equipment. Most medical equipment is funded as hire purchase, chattel mortgage or finance lease. Indicative rates from ~7.6% p.a. for prime borrowers with terms typically 36–60 months.

Why hire purchase

  • ✓Ownership transfers to you at the end of the term
  • ✓Fixed interest rate and fixed repayments — easy to forecast
  • ✓Claim depreciation and interest on your tax return
  • ✓Up to 100% finance available for established businesses on eligible new assets
  • ✓Asset shows as a fixed asset on the balance sheet

Trade-offs to weigh

  • –The asset shows as a liability on the balance sheet until paid off
  • –Lender holds security over the asset until final payment
  • –Early-termination fees may apply if you exit before the end

Medical Equipment finance at a glance

Indicative rate
From ~7.6% p.a. (prime borrower) — subject to credit
Typical term
36–60 months
Deposit / LVR
Up to 100% on new from a recognised supplier (established practice)
Lenders
UDC Finance, Heartland Bank, BNZ Asset Finance

What you can fund

Ultrasound, x-ray, CT, MRIDental chairs, CBCT scanners, intraoral scannersSurgical and theatre equipmentSterilisation and autoclavesLab analysers and pathology equipmentPhysio, audiology and optometry equipment

How hire purchase is treated

Ownership during term Lender (security)
Ownership at end of term You — automatic on final payment
Who claims depreciation You
GST treatment Claim GST on asset cost upfront (cash/invoice basis)

See the full breakdown in the hire purchase guide, compare all four structures on the comparison page, or read more on medical equipment finance.

Rates, terms and LVR are indicative market ranges for guidance only — not a quote, not financial or tax advice, and subject to lender credit approval. Confirm tax and accounting treatment with your accountant.

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Frequently asked questions

Yes. Hire Purchase is a common way to fund medical equipment for New Zealand businesses — it means you own it outright at the end of the term. Hire purchase is a fixed-term finance agreement where you pay off the cost of an asset in regular instalments and take ownership at the end. The lender holds security over the asset until the final payment. All applications are subject to lender credit approval.