Hire Purchase (HP)
How does Hire Purchase work?
Hire Purchase is the traditional arrangement used to fund vehicles.
Once you have selected your car, you will need to let us know the term of the agreement, from 24 to 60 months. We will then agree a deposit and monthly payment, which will be made up of a portion of the money you initially borrowed plus the interest.
What happens at the end of the deal?
Once you have made your final payment the ownership of the vehicle is transferred from the funder to you.
This type of finance has a number of great benefits:
- Flexible low deposit schemes are available to suit any budget
- Repayments are fixed, making it easier to budget
- We have access to a range of funders which means we can find the right deal for you, whatever your circumstances
- The car is yours at the end of the arrangement.
Our experienced advisors have extensive knowledge of all the finance plans available, and are able to advise on the best solution for you, based on your circumstances and budget. For a free no obligation quote and advice, give us a call today on 0870 990 5583.