Hire Purchase (HP)
A simple way of financing that gives you the certainty of a fixed interest rate, and fixed monthly payments throughout the agreement. The initial deposit and repayment period can be structured to help meet your budget and the length of time you expect to keep the car. You can trade in your existing car and put this towards the initial deposit, or if you wish, just put down a cash deposit.
What happens next?
Your dealer will structure the agreement to meet your individual requirements based on the car, the agreement duration required, the available deposit and your monthly budget
After paying the initial deposit you make regular monthly payments to cover the amount borrowed plus any interest and fees
The interest rate is fixed which means you'll know exactly how much you will repay throughout the term of the agreement
Once all of the payments have been paid the car is yours
Features and Benefits
- Fixed monthly repayments
- Low Deposit
- Ownership of Car
- Budget with confidence
- Freedom, no mileage restrictions
- Ability to settle loan early