Hire Purchase Car Finance
Hire Purchase finance,
with a clear route to ownership.
A straightforward finance structure for clients who want fixed monthly repayments and ownership of the vehicle at the end of the agreement.
Fixed payments.
Clear ownership.
Hire Purchase may suit clients who prefer a structured agreement with no optional final payment.
A structured route to
vehicle ownership.
Hire Purchase is a vehicle finance agreement where you typically pay an initial deposit, followed by fixed monthly repayments over an agreed term. Once all payments have been made, ownership can pass to you.
Preston Edwards Motor Finance works as a credit broker, not a lender. We help introduce clients to suitable Hire Purchase options through our panel of lenders, with clear explanation and discreet communication throughout.
Simple and transparent. Hire Purchase can be especially suitable for clients who want predictable monthly payments and a clear path to owning the vehicle.
How Hire Purchase
can work.
The exact structure will depend on the lender, the vehicle, your circumstances and affordability. We help explain the agreement before you decide whether to proceed.
Initial deposit
You usually pay an initial deposit, with the balance funded over the agreed term.
Fixed monthly payments
Monthly repayments are agreed at the start, helping provide clarity over the term.
No optional final payment
Unlike PCP, Hire Purchase does not usually include a large optional final payment.
Ownership at the end
Once all payments and any applicable fees are made, ownership can pass to you.
What to consider with
Hire Purchase.
What to consider with
Hire Purchase.
Hire Purchase can be a strong option for clients who want to own the vehicle, but it is still important to consider deposit, term, repayments and suitability.
Monthly budget
The repayment amount should be comfortable and sustainable across the full agreement term.
Deposit level
A larger deposit may reduce the amount financed and can affect the monthly repayment.
Agreement term
The length of the term can influence monthly payments and the total amount payable.
Ownership plans
Hire Purchase may suit clients who plan to keep the vehicle once the agreement ends.
How it works
Tell us about
the vehicle
Share a few details about the car you’d like to finance.
We structure
the finance
We approach our specialist lenders to find the right fit.
Read, review
and sign
You review the terms and sign the finance documents.
Collect your
keys
Once completed, you’re ready to collect your vehicle.
Hire Purchase finance
FAQs.
A few common questions about Hire Purchase car finance.
What is Hire Purchase car finance?
Hire Purchase is a vehicle finance agreement where you usually pay a deposit, followed by fixed monthly repayments. Once the agreement is completed and any applicable fees are paid, ownership can pass to you.
Is Hire Purchase suitable for prestige cars?
It can be, subject to status, lender criteria and the vehicle itself. Hire Purchase may suit clients who want a clear route to ownership for a prestige, performance, classic or specialist vehicle.
Does Hire Purchase include a final balloon payment?
Standard Hire Purchase usually does not include an optional final balloon payment. If a structure with a balloon payment is required, Lease Purchase or another option may be considered depending on suitability.
Are you a lender?
Preston Edwards Motor Finance is a credit broker, not a lender. We introduce clients to suitable finance options through our panel of lenders.