HP (Hire Purchase) is a type of finance that requires you to pay each month over a fixed period. After you’ve paid all payments and fees, you will own the vehicle outright.
HP (Hire Purchase) contracts include:
- Higher monthly payments
- You get to keep the vehicle at the end
- Your monthly payments cover the vehicle’s full value
Like all finance, different vehicle finance options have advantages and disadvantages. Whilst we cannot offer specific advice, we always recommend that you research to make sure that HP is the right option for you.