We no longer support this web browser. Upgrade your browser for a better experience.

Car Finance Explained - Hire Purchase

What is it?

Hire Purchase is one of the most common motor finance products in the market. HP allows you to use the car while paying for it, at the end of the agreement you take ownership. The car is the security for the agreement. You will have an option to own the car at the end of the agreement term for an additional sum called the Option to Purchase Fee.

Advantages of Hire Purchase:

Agreements are simply structured, normally up to a maximum of 5 years.

Flexible deposits and periods are set to meet a customer’s budget.

Documentation completion relatively simple and mostly organised by supplier.

Payments are fixed to allow you to accurately budget your finances.

Apply Now for Free

Example of what a Hire Purchase payment plan might look like

Other Finance Options

Are you eligible?

  • Do you own a full UK driving license?
  • Have you been a UK resident for the last three years and have an address history?
  • Are you employed and work a minimum of 16 hours a week?
  • Are you aged 21 years or over?

What's Involved

Car Credit Assured will make buying the car you want easy!

1. Call or apply online - our finance team today on 0330 108 3793.

2. Get a decision - We will search our panel of lenders to ensure the best result for your credit status and call you with a decision as quickly as possible.

3. Arrange an appointment - To ensure you receive the best possible experience we will call you and arrange an appointment at one of our dealerships at your convenience.

4. Pick up your car - Once all documentation is received we aim to have you driving away as soon as possible.