Hire Purchase

Hire purchase is a type of car finance agreement where you can borrow a set amount of money over an agreed period at a fixed interest rate. The amount borrowed and the total interest is divided across the entire agreement, meaning you pay the same amount each month. You can also pay off the total early.

"The fixed monthly payments suited me perfectly."

“When choosing a car finance deal, I wanted to know what I would be paying each month so I could set my budget. The hire purchase car finance option suited me perfectly as the total interest was included in the monthly payments from the start of the agreement, meaning I could divide the cost equally across the whole agreement. This gave me peace of mind from the start.”

- Emma from Tunbridge Wells

Hire Purchase Key Features

  • Suitable for all credit ratings.
  • Fixed monthly payments.
  • Fixed interest rate means interest doesn’t fluctuate.
  • Interest accrued over the finance period divided between all payments.
  • Can pay off the agreement early.
  • No annual mileage limits.
  • Option to purchase fee at the end of the agreement.

Not sure if this is the finance option for you?

One of our customer advisors will be happy to discuss the different car finance options with you. Call 0800 1777 290 or apply for car finance today.

Alternatively, if you would like to learn more about the other car finance options available, then visit the options page to see what's available.

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