Hire Purchase (HP) car finance is one of the UK’s most popular car buying options and with good reason.
With Hire Purchase, you simply choose your deposit and term. Your term depends on how long you intend to own your new car. At FOW the term can be tailored between 18 months and 60 months (5 years).
Because the interest rate is fixed, there are no surprises either. In fact, unlike a Personal Contract Purchase (PCP) when the final payment is made, you’ll own the car outright with no Guaranteed Future Value (GFV) or balloon payment.
This means, if you plan to own your car over a longer period and value stability, Hire Purchase could be a great option for you. You’re likely to pay less interest over the same period and keep your car with no commitment.
At FOW, you can secure Hire Purchase on any vehicle. Deposits start from only £99, the larger your deposit though, the smaller your repayments will be.
And, you still have options. If your circumstances change you can value your car for part exchange towards a new one.
Remember, you can check your eligibility online in seconds. This doesn’t affect your credit score and gives you a good indication of your affordability. If you’re happy, you can apply online and get an instant decision in minutes.
If you value flexibility, a Personal Contract Purchase (PCP) is a great option. Repayments are generally smaller with an option to part exchange or keep the car at the end of the agreement (terms and conditions apply).
Chat with our team about all aspects of Hire Purchase. We’re happy to answer any questions you have and secure your dream car at budget to match your lifestyle.
