Hire Purchase (HP)
Spread The Cost Of Your Vehicle
You can spread the cost of your car, by paying in fixed monthly instalments.
With terms from 12 to 60 months and a deposit amount, you can choose the right payment plan that suits your budget.
When you have paid off the finance agreement, and settled the option to purchase fee, the vehicle becomes yours.
You can enjoy a one month payment holiday before your first instalment is due, with interest calculated from the day your agreement starts.
Pros & Cons
No minimum or maximum deposit price, so you can have more control over the amount of finance required
Flexible repayment terms to suit your monthly budget
Fixed interest rates, so you know exactly what you’re paying every month for the length of the term
You don’t own the vehicle until you’ve made your final payment, which means the vehicle could be repossessed if you do not maintain contractual payments
You cannot sell or give the vehicle away until you have paid all of the repayments under the finance agreement