Used Car Hire Purchase Finance
Buying a used car through hire purchase finance can be a great option for those looking to spread the costs when purchasing a car. At MOTORS you are in safe hands as you can search thousands of used car hire purchase deals from trusted dealers.
What is used car Hire Purchase finance?
Used car HP is a type of car finance that allows you to spread the cost of payments for a used car through fixed monthly payments. The loan is secured against the car, meaning you won't own the vehicle until you make the final payment.
How does Hire Purchase on used cars work?
With used car Hire Purchase finance, you will begin by putting down a deposit which is usually 10% of the value of the car. The remaining value of the car will then be paid off across fixed monthly payments. At the end of the agreement, you will have the chance to pay an "option to purchase" fee. If you choose to pay it, you will then become the legal owner of the car.
Find out more about how Hire Purchase works in our helpful guide to Hire Purchase Finance.
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