Hire Purchase Car Finance

Hire purchase offers a straightforward way to spread the cost of your new car. A fixed interest rate makes budgeting simple and you own the vehicle at the end of the agreement.

Get a Quote
Tick icon

Flexible Deposit

allowing you to free up personal or business cash

Tick icon

Control

you decide the deposit, repayment term and final payment amount

Tick icon

Set Monthly Payments

making budgeting simple

Tick icon

Flexibility

no mileage restrictions

Tick icon

Assets

you own the car at the end of the agreement

Tick icon

Tax Benefits

tax allowances for business users

HP Car Finance Explained

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.

Before choosing Hire Purchase, you need to consider the following:

  • Your monthly repayments may be higher than with other finance options
  • You do not own the vehicle until the final payment has been made
  • You are bound to the terms of the finance agreement, so you should consider your ability to repay, even if your circumstances change. You do not own the vehicle until the sums required by the agreement have been paid, including the option to purchase fee. If you fail to keep up repayments, this will impact your credit rating and may impact your ability to obtain credit in the future. In the event of default, the vehicle may be repossessed without a court order, unless you have paid a third of the total amount payable.









Current representative APR

7.95% 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.

Our Reviews

Live Customer Feedback