Hire Purchase

How Hire Purchase works

A great choice if you want to own the vehicle at the end of your agreement.

  • Choose the amount that you'd like to put down as a deposit
  • Decide how long the term of the agreement should be (this could be from 24 to 60 months)
  • Pay monthly payments throughout your agreement.

What's included?

  • Fixed monthly payments
  • A balloon payment, known as "Optional Purchase Payment", which you can set your self to lower your monthly payments
  • You choose the deposit and repayment terms, that means you can tailor the financial agreement to suit you
  • BUSINESS CUSTOMERS ONLY: Tax allowances that can be deducted from taxable profits, because the vehicle would appear as an asset on your balance sheet.

At the end of your agreement

Once your final payment is made as well as a nominal "Option to Purchase Fee" of £10 (and final balloon payment if applicable), you will own the vehicle outright.