Do I have any contract choices with HP?

HP is a great option if you want to own a vehicle without facing a large balloon payment at the end. Instead, you pay a small option-to-purchase fee with your final instalment. Bear in mind that the finance company retains legal ownership until that final payment clears. You can also voluntarily terminate the agreement once you have paid at least half the total amount owed. Unlike PCP, HP comes with no mileage restrictions, making it a practical choice for higher-mileage drivers.