Hire Purchase (HP)
Straightforward car ownership with fixed monthly payments
Hire Purchase is one of the simplest ways to finance a vehicle. Pay a deposit, make fixed monthly repayments over 2–5 years, and once your final payment is made, the car is yours — no mileage caps, no hidden surprises.
How Hire Purchase Works
- Choose your car & deposit — select the term that suits your budget (usually 24–60 months).
- Pay fixed instalments — both the rate and payments are agreed upfront, so you always know where you stand.
- Own it outright — after your final payment, full ownership transfers to you.
Some plans offer an optional final balloon payment to reduce your monthly instalments.
HP vs PCP — Quick Comparison
| Feature | Hire Purchase (HP) | Personal Contract Purchase (PCP) |
|---|---|---|
| Monthly payments | Higher (you finance the full car value) | Lower (a portion is deferred to the final balloon) |
| End of agreement | You own the car automatically | Choose to keep, part-exchange, or return |
| Mileage or condition limits | Not applicable | Apply only if you return the vehicle |
Both HP and PCP are subject to status and lender approval. Your rate, term, and deposit can affect your monthly cost.
Get in touch:
Your personal concierge specialist is waiting for your call or email:
Get In Touch
- 0191 250 4575
- [email protected]
Address
- Hub 26, Lawrence House, Riverside Dr, Cleckheaton BD19 4DH
Hours
- 9:00AM - 5:30PM Weekdays
- 10:00 AM - 4:00pm Sat/Sun
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