What is Hire Purchase (HP)?

Hire Purchase (HP) is a straightforward way to finance a car by spreading the cost over a fixed period. You start with a deposit, then make monthly payments until the full cost of the car is paid off. Unlike PCP, there’s no large final payment - once you’ve made the last monthly payment, the car is yours. HP finance is great if vehicle ownership is important to you, but you do not have the full funds to afford the car you want.

Why might HP be right for me?

• You Own the Car at the End - Once you’ve made all the payments, the car is fully yours – no final balloon payment required!
• No Mileage Restrictions - Unlike PCP, there are no mileage restrictions, so you can drive as much as you like without penalties.
• Low deposits.