Hire Purchase

Often called HP

Hire Purchase makes owning your dream car simpler by letting you spread the cost over a set number of months.

Here’s how it works: you’ll pay an upfront deposit (the amount depends on the price of the car and what suits your budget). Once the paperwork is signed, the car is yours to drive away straight away.

From there, you’ll make the agreed monthly payments. And once the final payment has been made, the car is completely yours. No strings, no surprises.

At that point, you’re the outright owner — free to keep driving it, sell it on, or part exchange for something new.

The choice is in your hands.

HP Is Ideal If You...

• Want to own the vehicle outright
• Have a monthly budget
• Want to stick to a fixed monthly amount
• Want to pay the agreement off over 12 to 60 months
• Want to buy a new or used vehicle
• Are able to pay the agreement off early. You may be entitled to a rebate.
•  Are over 18 years old
• Have a fully comprehensive driving license
• Are going to be the registered keeper of the vehicle

Things You Need To Know About HP...

• You are protected under the consumer credit act termination rights and are protected by the consumer rights act
• Your vehicle may be repossessed if you don’t make your regular monthly payments
• You're not protected against depreciation
• You cannot sell or give the vehicle away until the full agreement is paid off