When looking at your finance options, you might want to consider hire purchase.
Hire purchase isn’t a lease, it’s a finance agreement.
But what is hire purchase?
In this article, we look at what hire purchase is, its pros and cons, and whether hire purchase is right for you. Hire purchase (HP) is essentially where you pay a fixed monthly payment for a certain period of time. Once that time is up, you own the car.
The difference between a hire purchase and a lease agreement such as a contract hire, for example, is that you pay the monthlies with the outright intention of owning the car.
Essentially, it’s a loan that you are paying back, rather than renting the car. Some of the advantages of this option are...
OSV Limited is an Appointed Representative of Automotive Compliance Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows OSV Limited to act as a credit broker, not as lender, for the introduction to a limited number of finance providers and to act as an agent on behalf of the insurer for insurance mediation activities only.
OSV Ltd a Registered Company in England and Wales No: 04533176 and whose registered office is D1 Yeoman Gate, Yeoman Way, Worthing, West Sussex BN133QZ.
VAT Reg No: 946 3911 02 ICO: Z1606144
Finance is subject to status.