HP Finance Explained
What is Hire Purchase Finance (HP)
Hire Purchase (HP) is one of the most common forms of used car finance available. HP finance means that for the period of time you're paying for the car, you effectively hire the car from a selected lender until the vehicle has been paid for in full. The loan from your lender is secured against the car, so you won't fully own it until you've made your final payment.
Choosing HP finance will give you the ability to spread the cost, decide if you want to put down a deposit first, and allow you to own the vehicle outright at the end of your agreement. You’ll also have the option to pay off any outstanding finance at any point during the agreement and won’t be restricted to a certain number of miles per year.
As with any financial agreement you enter into, we recommend that you fully understand all of the terms and conditions and are aware of all the commitments you are making, including any associated risks should you not meet the monthly repayments.
Why Finance Through West Motors?
By choosing to finance your car through a reputable dealership such as West Motors, you can tailor the finance package to suit you and your needs, whilst having peace of mind that all the hard work is done for you.
Still unsure if Hire Purchase finance is the right choice for you? Our experienced and helpful team is able to answer all your questions. Simply fill out the form below to submit an enquiry, or call us on 01895 379525 to find out more.