Hire Purchase

Hire Purchase offers a straight forward way to spread the cost of your car. You pay a fixed rate of interest and benefit from fixed monthly payments, making budgeting simple and easy.
You choose the amount of deposit you wish to pay (typically between 5% to 10% of the car’s price). The reminder of the balance, together with the interest, is repaid over an agreed period (12-60 months).

Benefits
• Low Deposit – doesn’t tie up personal or business assets
• Fixed monthly Payments – makes budgeting simple
• Assets – you gain ownership of the car at the end of the term

Hire Purchase with a Balloon (Lease Purchase)

Hire Purchase with a Balloon offers lower monthly payments than standard Hire Purchase. Instead, at the end of the agreement, you can make a final lump sum payment (or ‘balloon’) to purchase the car in full.

Benefits
• Low Deposit
• Lower Fixed Monthly Payments
• A better car – lower payments can help you choose a higher specification car

What is a Balloon payment?

If you want to keep your car finance repayments to a minimum, you may want to consider a balloon payment. A balloon payment is a lump sum, usually payable at the end of the loan. Typically the amount of the balloon is calculated based on the likely value of the car at the end of the loan taking into account its age and future mileage. As a guideline, balloon payments are set as follows;

• 3 Year Loan – 35% of the cars purchase price (typically)
• 4 Year Loan – 31% of the cars purchase price (typically)

We can offer finance to you through a variety of lenders based on all circumstances.

We can consider you even if you have the following:

• CCJ’s
• Defaults
• Late Payments

Finance Examples:

Vehicle Price: £7,995.00
Deposit: £495.00
Amount to Finance: £7,500.00
Term: 3 Years

Q. Have you had any problems relating to not getting finance? (This question must be answered in order for you to proceed with the finance application):
Our finance specialists are able to give finance to people who ordinarily wouldn't be able to get it, whether it's because of a bad credit rating or because you are self employed or a member of the armed forces. No matter what your situation we are usually able to help.

THE APPLICANT
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FINANCE DETAILS
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Data Protection Notice 1998

In considering your application we will search your record at a credit reference agency. They will add to your record details of our search and your application and this will be seen by other organisations carrying out later searches. It is important that you give us accurate information. We will check your details with fraud prevention agencies and if you give us false or inaccurate information and we suspect fraud we will record this. We and other organisations may use and search these records to help make decisions about credit and credit related services, for you and members of your household; trace debtors, recover debt, prevent fraud, and to arrange your accounts or insurance policies; check your identity to prevent money laundering unless you furnish us with other satisfactory proof of identity. You have a right, on payment of fee, to receive a copy of the information we hold about you if you apply to us in writing. We may pass on your details to other companies to send information about the product.