A Hire Purchase (HP) car agreement is the most practical way for private motorists to get a car. HP agreements allow you to spread the cost of buying a vehicle rather than having to pay for it up front.

If you choose HP car finance, you will agree to pay an initial deposit - and go on to pay off the entire value of the car, plus interest, in monthly instalments, over a fixed period – anything from 24 to 60 months.

You will become the legal owner of the vehicle at the end of your agreement, which could sometimes be subject to an option to purchase fee. This could be as little as £1.&nbsp;

Unlike PCP and PCH deals, HP agreements don’t have an annual mileage restriction. 

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Hire Purchase (HP)