Hire Purchase – HP

HP is one of the main ways lenders provide loans to customers. You make affordable monthly installments over the period of the loan, typically 12 -60 months and own the asset at the end of the agreement once you have paid the last payment including the ‘option to purchase fee’. During the loan term the asset belongs to the lender until settled in full. At any time you can settle the agreement early which will reduce the interest you repay as this is calculated at the beginning based on the period you are borrowing for. It can be used to finance cars, motorbikes, caravans and LCV vans.

If you want to own the vehicle at the end of the term this may be the product for you.

For more information about hire purchase or to find out how we can help you, please don’t hesitate to contact Car Finance Northern Ireland today!

Start Your Finance Application!

Click the button below to start your finance application