Everything you need to know about Hire Purchase (HP)
Want to own your car at the end of your finance agreement? With Hire Purchase, you agree an initial deposit, how long you want your agreement to run (1-5 years) and a monthly payment. Once all the installments have been paid, you own the car.
Benefits of HP:
- You own your car outright at the end of the agreement.
- Flexible deposits typically from 5% of the on the road price.
- Fixed interest rate over your chosen period.
- Fixed monthly payments to suit your budget.
- Borrow any amount from £1,000.
- Choose any new or used car less than 14 years old at the end of the agreement.