Hire Purchase Used Cars
Those who like to take full ownership of the used car they’re buying will likely look to Hire Purchase (HP) deals to facilitate the purchase.
As a very simple way to finance a second-hand car, HP is a straightforward choice in the world of car finance options.
Unlike Personal Contract Purchase, HP deals can be had on any used car regardless of age or mileage, helping car buyers finance any second-hand vehicle of interest.
Each of our used cars for sale offers a calculator facility for you to tweak the likes of deposit and term to get a good idea of what an HP deal on a second-hand car looks like.
Understanding HP Used Car Deals
If you’re new to car finance and are wondering just how a hire purchase deal would work on a used car, here is an overview of the details:
- A deposit is paid upfront; this can be in cash, part exchange or both.
- Based on how much deposit is paid, as well as the desired contract term, monthly payments will be worked out.
- From there, monthly payments are made until the end of the contract.
- Once completed and the final payment has been made, full ownership of the car passes to you.
Representative Example
This represents an average of the deals that our customers receive on other vehicles
We are a credit broker and a lender. We can introduce you to a limited number of lenders and their finance products. We will provide details of products available, but no advice or recommendation will be made. You must decide whether the finance product is right for you. We do not charge you a fee for our services. Lenders will pay commission to us (either a fixed fee or a fixed percentage of the amount you borrow) for introducing you to them, this may be calculated in reference to a variable factor such as (but not limited to) the vehicle age, your credit score and the amount you are borrowing. Different lenders may pay different commissions for such introductions.