If your aim is to own your next vehicle, hire purchase may be an option to consider. It spreads the purchase cost over an agreed period, with ownership passing to you once all payments and any applicable purchase fee have been made.
How it works
An agreed deposit is paid at the start. The remaining balance, together with the interest and fees shown in your agreement, is repaid through monthly payments.
Some commercial products include a final balloon payment. This can reduce the monthly payment compared with an equivalent agreement without a balloon, but leaves a larger amount to pay at the end.
Understand your agreement
Our team will explain the deposit, monthly payment, total amount payable, any final payment and the conditions for ownership before you decide.
Discuss hire purchase
Finance is subject to status, eligibility and lender approval. Terms and conditions apply.