Hire Purchase (HP)
Fixed monthly payments, no balloon, and the car is yours at the end.
Yours at the end
Own the car outright once the last payment is made.
No mileage limits
Drive as much as you like.
No balloon payment
Fixed monthly payments up to 60 months.
What is HP?
Hire Purchase is the simplest way to own your car. You spread the full cost across fixed monthly payments, after an optional deposit. No balloon at the end, no mileage limits, no surprises. Make your last payment and the car is 100% yours.
Why choose HP
- You own the car at the end
- No mileage restrictions
- Fixed monthly payments, so you always know what you're paying
- Terms up to 60 months, to spread the cost further
Who HP suits
Drivers who want to own their car, do high mileage, or plan to keep the car for the long term.
Things to consider
- Monthly payments are usually higher than PCP or Lease Purchase, because you're paying off the car's full value
- You can settle early at any time by requesting a settlement figure
- All finance is subject to status and income
Frequently asked questions
Are there mileage limits on HP?
No. With HP there's no Guaranteed Future Value, because you're paying off the full cost of the car. That means there's no agreed annual mileage to stick to. Drive as much as you like.
Can I sell the car before the end?
Yes. Just request a settlement figure. You can then either sell the car and use the proceeds to clear the settlement, or pay the settlement off yourself. Either way, once it's cleared, the finance is fully paid off. We can help you with this.
How long can I spread the cost over?
Up to 60 months, depending on the lender and the car.
Ready to see your savings?
Get a no-obligation quote and find out exactly how much you could save versus dealer finance.
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