How does Hire Purchase finance work?

Hire Purchase is a preferred option for motorists who wish to own a vehicle in the long term, but can’t afford to pay for it outright in the short term. HP can help cover the costs of a new or used vehicle, which you’ll repay in monthly instalments for the duration of the agreement.

Rates for new cars or vans are usually more competitive than with used vehicles, and if you have a good credit score, then you are even more likely to be offered a favourable deal.