Hire Purchase
Straightforward ownership with fixed monthly payments.
Understanding Hire Purchase
Hire Purchase is the classic route to ownership. You pay a deposit and spread the remaining balance over a fixed term. At the end of the agreement, you own the vehicle outright with no final balloon payment.
Ideal For:
Buyers who plan to keep the vehicle long-term and want total ownership without a final balloon payment.
Key Benefits
- Simple, transparent structure
- Fixed interest rate and payments
- No mileage restrictions
- Total ownership at the end of the term
- Asset appears on your balance sheet