How Hire Purchase (HP) works
We buy the vehicle on the customer’s behalf. Customers put down a deposit and make agreed monthly payments over an agreed timeframe. At the end of the agreement, your customer pays a small fee to become the legal owner of the vehicle. This is called a Completion Fee.
This option is available for cars and Light Commercial Vehicles (LCVs).
Pay the deposit
Your customer puts down a deposit of around 10% of the vehicle price and pays the remaining cost of the vehicle over the term of the agreement.
Their deposit could include the part exchange value of their current vehicle.
Fixed repayments
Monthly repayments are fixed during the agreement and spread equally throughout the term. The agreement is up to five years (60 months).
If your customer doesn’t keep up with their payments, we may repossess the vehicle.
Over 18 subject to status. Finance eligibility criteria apply.