Hire Purchase | Finance Explained

What are the benefits?

✓ Less likely to have mileage restrictions
✓ Owns the car at the end, so is suited to customers who intend to keep their vehicle for longer than the period of repayments
✓ Fixed Monthly Payments
✓ Low Deposits
✓ You can choose the most appropriate term to suit your budget
✓ Borrowing secured against the car
✓ You can settle the balance any time
✓ Interest rates are fixed

How does an HP agreement work?

Hire Purchase is most comparable to a bank loan and enables you to repay the balance on a flexible term with no mileage restrictions. At the end of the agreement, you own the vehicle but may need to pay the 'option to purchase fee' depending on the manufacturer.

You may terminate an HP agreement earlier than the full term; however, you will have an amount to pay back, which is dependent on how far you are into the contract.

The legal entities within Snows Group are authorised and regulated by the Financial Conduct Authority (“FCA”). Details of FCA permissions (and our trading names) can be checked via the FCA register https://register.fca.org.uk.

Snows Motor Group Limited is an Appointed Representative of Snows Business Holdings Limited who is authorised and regulated by the Financial Conduct Authority in insurance distribution activity only. Snows Business Holdings Limited FCA register number: 309925.

Snows Motor Group Limited is a Credit Broker and not a lender. We work with several carefully selected credit providers, including manufacturer finance companies, who may be able to offer you finance for your purchase. Finance is subject to credit acceptance to UK residents (excluding the Channel Islands) aged 18 or over. Guarantees and indemnities may be required. Terms and conditions apply.

Snows Motor Group Limited is directly authorised and regulated by the Financial Conduct Authority for Consumer Credit Activity (Limited Permissions). Snows Motor Group Limited FCA register number: 685889.

Discretionary rates / Commission disclosure

We have a fixed interest rate policy and we may be paid a fixed commission by the finance provider for introducing you to them. This introduction does not amount to independent financial advice.

For your reassurance, the amount of commission we receive from a lender does not have any effect on the amount that you will have to pay to the lender under your credit agreement. The lender will always set this.

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Hire Purchase (HP)

Available from Snows across Southern England

What are the benefits?

How does an HP agreement work?

Enquire For An HP Finance Offer With Snows