Hire Purchase Car Finance

Get a Quote

What is Hire Purchase Car Finance?

Hire Purchase offers a straightforward way of spreading the cost of your purchase. It provides fixed monthly repayments and a fixed interest rate, making budgeting easier.

You decide the amount of deposit you would like to put down, typically 10% – 50% of the car’s price. The remaining balance, together with the interest is repaid over an agreed period, usually between 1-5 years.

At Oracle Finance we offer a broad range of finance products including Hire Purchase.

New BMW 3 Series 004_davsbe

Benefits of Hire Purchase Car Finance

You could benefit from any of the below…

Tick icon

Flexible Deposit

allowing you to free up personal or business funds

Tick icon


you decide the deposit, repayment term and final payment amount

Tick icon

Set Monthly Payments

perfect for budgeting

Tick icon


no mileage restrictions

Tick icon


you own the car at the end of the agreement

Tick icon

Tax Benefits

tax allowances for business users


Relevant Articles

Car Finance – Different Types
Read more
Lamborghini Urus S
Fixed vs Variable Finance Rates Explained
Read more
8 Secrets You Should Know When Financing A Car
Read more
Current representative APR

9.9% APR

Oracle Finance is a Credit Broker and not a Lender.

This means that we deal with a wide range of financial institutions to give our customers a greater choice of competitively priced options. For your protection, Oracle Finance is authorised and regulated by the Financial Conduct Authority for the sale of consumer credit. Oracle Finance is a trading name of Oracle Asset Finance Limited.


A PCP is usually only offered on newer cars and those a few years old with a lower mileage. A HP can be offered as a way to finance a car of up to 10 or possibly 12 years and up to 100,000 miles.
It depends on monthly budget and plans to own the car. The monthly payments on a HP tend to be higher as they spread the cost of the whole car so typically have no final balloon payment, once the final payment is made you then own the car. A PCP has a balloon payment at the end which you must pay or refinance, in order to take ownership of the car.
Yes, you can pay off the settlement figure, the remaining amount you owe, at any point during the agreement to take ownership of the car.
Hire Purchase is a car financing option where you make fixed monthly payments and have the option to purchase it outright at the end of the agreement.
With Hire Purchase, you pay a deposit upfront and make regular monthly payments over an agreed-upon term. Once all payments and any end of agreement fees are made, you own the car outright.
Hire Purchase allows you to spread the cost of a car over a fixed term with a fixed monthly repayment and a fixed interest rate. That way you know exactly how much your monthly payments will be from the first payment to the final payment, when you then take ownership of the car. Additionally, Hire Purchase agreements often accrue less interest over the course of the agreement in comparison to an agreement with a deferred final payment.
Unlike PCP, Hire Purchase agreements typically do not have mileage restrictions since you own the car outright after completing the payments.
Yes, you generally have the freedom to modify a car under Hire Purchase finance since you own the vehicle, but it's advisable to check with the finance provider.
While not a typical refinancing option, you may explore refinancing with a new loan to adjust terms or lower interest rates, but it's subject to lender policies.
Yes, you can trade in your car during a Hire Purchase agreement. The trade-in value can be used to settle the outstanding balance.
At the end of a Hire Purchase agreement, after all payments are made and fees are paid, you gain full ownership of the car, and no further payments are required.
Show more FAQs

Hire Purchase Car Finance