Understanding Hire Purchase

Understanding Hire Purchase

Hire Purchase is a hassle-free way of owning your next vehicle, giving you fixed monthly repayments so you can better manage your budget.

You choose to put down the deposit and select the repayment period – between two and five years - we work out your fixed monthly repayments, and you make your regular monthly payments including any interest and fees.

When you make your final payment, which may include an option to purchase fee, the car is all yours.

Important information to consider

• Ownership of the vehicle will remain with the finance company until you have paid both the option to purchase fee and all monthly repayments.

• It is really important that you keep up to date with your monthly repayments so please contact the finance company if you are having any difficulties, as the vehicle may be at risk if you do not.

Find out more about our range of finance products.