hire purchase
Today hire purchase is the most popular way of financing any vehicle. Here at loansandcars.co.uk we have access to all major lenders allowing us to search the market to get you the best repayment terms.
Very simply you make a small deposit on the vehicle that you wish to purchase and you “finance” the remaining amount traditionally over 36, 48 or 60 months. You don’t actually own the vehicle until you have made your final payment. So in theory you’re hiring the vehicle before purchasing it. If there is any damage done to the vehicle during the term of the hire purchase, the borrower is completely liable for repairing the damage.
At loansandcars.co.uk we urge you to make all of your monthly hire purchase payments on time. This is because the lender has complete authority to repossess the vehicle at any time prior to the pay off of the loan if payments are not received on time and for the full monthly installment. If you make all of your monthly payments on time this has a positive effect on your credit score helping you obtain better finance rates in the future.
We can provide Hire Purchase very quickly and at great rates. Please apply today or call to speak to our friendly and experienced staff.
