With many different finance agreements available, it can be hard to know what the right option is for you and your new vehicle. If you are considering using Hire Purchase, here is some information you may want to know...
Hire Purchase works as all finance agreements do, with a
monthly payment. Your monthly costs are determined by the amount you wish to
deposit and how long you would like to spread the payments over which is
usually 1-5 years. Deposit amount is entirely up to you, whether you would like
to put down a small deposit or 80%, it’s 100% your choice. With Hire Purchase,
you will not own the vehicle until your last payment has been made.
Did you know, if you have a car on HP you can upgrade at any time? Just pop in to your preferred dealer and they will request a settlement figure on your behalf and talk you through the next steps to take, to get you driving away in a brand new vehicle!
Using Hire Purchase (HP) can be the simplest way for you to finance your new car and this has long been the traditional way to invest in a quality new vehicle.
Throughout the contracted duration, the loan is secured against the car, meaning you will not own the vehicle until you have made your last payment.