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What is Hire Purchase?

Hire purchase is a simple form of car finance. Either by using a cash deposit, your existing car as a deposit or even no deposit.

You pay for the car in fixed monthly instalments over a pre-agreed contract - from 12 to 60 months - during which time you have full use of the car. Once the contract is complete, you own your car outright.

Here at Carmotion we work with many trusted, industry leading, multi-award winning finance partners who specialise in providing highly competitive vehicle finance packages. We can tailor a finance agreement for you regardless of whether you are a private, individual or a business-user.

Financing the purchase of your new car can be arranged quickly and easily with our in-house team of Finance Specialists using a panel of lenders such as Black Horse Motor Finance, MotorNova and many more, with very competitive rates. The application process is simple and a decision can be given almost instantly regardless of your credit history.

Hire Purchase with Carmotion

When you choose hire purchase through us, you get a simple, hassle-free way to fund your car purchase in affordable instalments, knowing it's yours to keep at the end of the contract. Here are just a few of the reasons customers choose us:

  • - Simple application process
  • - Deposits from £0
  • - £1,500 minimum amount financed
  • - Periods from 12 months to 60 months
  • - Fixed rate of interest
  • - Fixed payments for the duration of the loan

We work with many, industry leading, multi-award winning finance partners whi specialise in providing highly competitive vehicle finance packages. Our lenders will let you spread the cost over up to five years, with a pre-agreed interest rate that's fixed for the duration of the agreement. We work with a variety of lenders, and we can also offer options for people who've had credit problems in the past.

Our hand-picked cars are all quality-checked by specialists, so you can be reassured you're getting the very best motors on the market. We check our prices against the market every day to make sure we're offering the best value.

What's more, our friendly staff are trained to give you simple, honest advice. They don't work on commission, so their only motive is to find the very best cars and deals for you and your budget.

We think our customers are happiest when they've had the time and space they need to make their own decision - and from the feedback we get, they agree!

Need more information? Check our finance calculator to find cars in your price range.

FAQs about Hire Purchase

  • What if I already have finance on my existing car that I want to trade in as a part exchange?

    In most cases we can pay off your existing finance and put a new agreement in place on a new car. Please call one of our specialists or complete an application form here

  • Can hire purchase be transferred?

    No, normally a hire purchase agreement can't be transferred to another person.

  • Can hire purchase be paid off early?

    Yes, in most cases if you want to repay your loan early, you can. You may be entitled to a rebate against part of the interest owed for doing this.

  • What happens if I don't keep up with hire purchase payments?

    If you're unable to make payments, the car may eventually be repossessed by the lender. However, the lender should contact you first and give you the option to repay the arrears over time.

  • Can you sell a hire purchase car?

    While you're still making repayments, the car belongs to the lender so it can't be sold by you. However, once you've made your last payment you're free to sell it if you want to.

  • Can you get hire purchase with bad credit?

    Yes, we work with many different lenders and some of them can offer deals for customers with a bad credit history. Our credit check tool can help you find out if you're likely to be accepted for finance.

How do I apply for finance?

How quick can I get a car?

Most of the time you can get your loan approved and collect your car on the same day. Our vehicles come complete with a full Experian history check, extensive mechanical checks and warranty.

Can you use a vehicle in part exchange?

If you have a part exchange, we'll be happy to give you a free no obligation value and getting finance won't be dependent on this if you choose to later sell the vehicle yourself.

Apply here