This is the most basic form of car finance. You pay a deposit on your chosen vehicle to the dealer and we pay the remainder of the purchase price on your behalf. You’ll then pay this money back with interest on a fixed term, which can be anywhere between 24 and 60 months. At the end of the agreement, once you have made all your payments, title to the vehicle passes to you.

Example:hire purchase

Used Range Rover Sport with a purchase price of £20,000.0

Your preferred deposit of £4,000.00

We’ll finance the remaining £16,000.00

Repayable by 48 monthly payments at £400.00

Most finance companies will have document fees payable with their agreements – typically around £150 with the first and last payments. These are taken into account when calculating your APR.

Why choose this finance agreement?

Choose Hire Purchase if you want to own the vehicle at the end of the term and can easily afford the monthly payments.

What can I finance on hire purchase?

Pretty much any car, van, bike or minibus. We can offer hire purchase agreements for vehicles of all ages.

Who owns the car?

The finance company will be the legal owners of the car until all payments are made, but your name will appear on the vehicle registration document (V5) as the registered keeper.

Can I pay more per month to reduce my balance?

Yes you can – a conditional sale hire purchase agreement is very flexible. You can if you wish pay additional lump sums at any time and reduce your monthly payments, or shorten the term of the agreement. The total interest payable is recalculated and reduced if you do pay lump sums.

I want to change cars, but I haven’t finished paying for it yet.

No problem, you can settle your finance agreement at any time and benefit from a regulated settlement figure which will take into account a rebate of interest charges not payable. If you’re part-exchanging the car then we can settle the finance for you as part of a new finance agreement on your next car.