If you would like to ultimately own an asset but do not want to buy it outright immediately, a hire purchase agreement might be the best option for you although this type of agreement is more often used for personal rather than business purchases.

This enables you to take advantage of paying in installments and then at the end of the agreement, with all payments made, you have the option to take up ownership of the asset.

The term of a hire purchase agreement will always be significantly shorter than the working life of an asset so it should continue to function long after the end of the agreement.

You can also claim capital tax allowances as if you had purchased the asset outright