Hire purchase is the ideal solution if you want to spread the cost of purchasing a vehicle, across affordable monthly repayments. You choose how much you want to borrow over an agreed period. And the repayments and interest are divided equally into fixed monthly instalments. At the end of your agreement, the car is yours. You also have the option to pay off the total amount early if your circumstances change.
Apply for hire purchase today, and receive an instant decision without affecting your credit score.
If you’re looking to own your vehicle with cost-effective finance, hire purchase could be your answer.
Apply online today for a no obligation quote, without affecting your credit score.
Why choose hire purchase?
Widely available to a range of credit backgrounds
Easy budgeting with fixed interest rates
Enjoy the freedom of no mileage limits
The car is yours at the end of the agreement
You want to purchase a Nissan Qashqai valued at £12,800, so you opt for a 48-month hire purchase agreement with an APR of 10.9%. You have a £500 deposit, so the amount of credit required is £12,300. The interest, combined with the amount borrowed, is divided into 48 monthly payments of £314.27, bringing the total amount payable to £15,698. When the final payment has been made and any outstanding fees from the lender have been settled, the car is yours.
Find out how much you can borrow using our Hire Purchase Calculator.
Terms and conditions apply. Subject to status, application and credit acceptance.
Representative example: borrowing £7,500 over 48 months with a representative APR of 18.9%, an annual interest rate of 18.9% (Fixed) and a deposit of £0.00, the amount payable would be £223.86 per calendar month, with a total cost of credit of £3,245.06 and a total amount payable of £10,745.06.
Provided you’re aged between 18-75 and have a full UK driving licence you will likely be eligible for hire purchase. Why not Check Your Eligibility and receive a decision within a matter of minutes, without affecting your credit score. Got a question about eligibility? For further advice, visit our Eligibility FAQs
If owning the car at the end of the agreement is important to you, hire purchase could be your best option. Spreading the cost evenly across your contract makes for easy budgeting, and unlike Personal Contract Purchase (PCP), there is no Balloon Payment looming on the horizon at the end of contract. And if you’re regularly driving long distances, you’ll no doubt appreciate the freedom and peace of mind that comes with no-mileage limits.
Yes. Typically HP has the highest approval rate of all car finance options and is often available to people with a less-than-perfect credit history. And because Creditplus work with several lenders who specialise in Bad Credit Car Finance, we can help you get the best possible deal, even if you have been refused car finance elsewhere.
Want to check your eligibility without affecting your credit score? Our Eligibility Checker only takes a few minutes, and you’ll receive an instant decision.
In most cases, lenders will look more favourably on people with a higher credit score. If that’s you - good news! A strong credit profile will normally result in lower interest rates, helping to reduce the overall cost of your loan. And if you haven’t got a perfect score, you can easily turn things around with a little work. To access the best possible rates, try our Complete Guide for top tips to help you improve your credit score, and maintain it.
HP is a type of conditional sale agreement, whereby the entire cost of the vehicle is divided into equal monthly repayments over the length of your contract. At the end of the agreement, you own the vehicle. With Car Leasing, you’re essentially renting a vehicle over an agreed period, based on an agreed mileage, meaning your monthly instalments are normally lower in comparison. At the end of a leasing agreement you return the car to the lender.
Monthly payments are typically higher with a HP agreement, simply because you’re making repayments to own the vehicle at the end of the contract. And unlike a lease agreement, you don’t have the option of returning the car to the lender at the end of your contract. This may be a disadvantage if you’re the type of person who likes to regularly upgrade your car – and you don’t want to face the hassle of selling the car yourself.
Absolutely. Whether you’re looking for a Commercial Van; a Van for Personal Use; or even a Campervan or Motorhome, Creditplus can provide a hire purchase solution to suit your requirements. Get a quote today using our simple, No-obligation Application form.
Provided you’re aged between 18-75 and have a full UK driving licence you will likely be eligible for hire purchase. Why not Check Your Eligibility and receive a decision within a matter of minutes, without affecting your credit score. Got a question about eligibility? For further advice, visit our Eligibility FAQs
If owning the car at the end of the agreement is important to you, hire purchase could be your best option. Spreading the cost evenly across your contract makes for easy budgeting, and unlike Personal Contract Purchase (PCP), there is no Balloon Payment looming on the horizon at the end of contract. And if you’re regularly driving long distances, you’ll no doubt appreciate the freedom and peace of mind that comes with no-mileage limits.
Yes. Typically HP has the highest approval rate of all car finance options and is often available to people with a less-than-perfect credit history. And because Creditplus work with several lenders who specialise in Bad Credit Car Finance, we can help you get the best possible deal, even if you have been refused car finance elsewhere.
Want to check your eligibility without affecting your credit score? Our Eligibility Checker only takes a few minutes, and you’ll receive an instant decision.
In most cases, lenders will look more favourably on people with a higher credit score. If that’s you - good news! A strong credit profile will normally result in lower interest rates, helping to reduce the overall cost of your loan. And if you haven’t got a perfect score, you can easily turn things around with a little work. To access the best possible rates, try our Complete Guide for top tips to help you improve your credit score, and maintain it.
HP is a type of conditional sale agreement, whereby the entire cost of the vehicle is divided into equal monthly repayments over the length of your contract. At the end of the agreement, you own the vehicle. With Car Leasing, you’re essentially renting a vehicle over an agreed period, based on an agreed mileage, meaning your monthly instalments are normally lower in comparison. At the end of a leasing agreement you return the car to the lender.
Monthly payments are typically higher with a HP agreement, simply because you’re making repayments to own the vehicle at the end of the contract. And unlike a lease agreement, you don’t have the option of returning the car to the lender at the end of your contract. This may be a disadvantage if you’re the type of person who likes to regularly upgrade your car – and you don’t want to face the hassle of selling the car yourself.
Absolutely. Whether you’re looking for a Commercial Van; a Van for Personal Use; or even a Campervan or Motorhome, Creditplus can provide a hire purchase solution to suit your requirements. Get a quote today using our simple, No-obligation Application form.
Your application only takes a couple of minutes and won't affect your credit score.
That's why we're rated 9.1/10 on Trustpilot
Jonathan Cross
Martin Dear
James Daniel Forrest
