HP car finance
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We’re an introducer not a credit broker nor a lender. Rates from 8.9% APR. Representative APR 19.9%
Rates from 8.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status. Rates from 8.9% APR. Representative 19.9% APR. Hire Purchase (HP) Example: Borrow £10,000 over 5 years with a £0 deposit. Representative APR 19.9% fixed rate. Monthly payment: £255.50. Total cost of credit: £5,329.80. Total amount repayable: £15,329.80.
Fast Easy Finance Ltd is an introducer not a credit broker nor a lender. We look to find you the best rate and will offer the best deal that you're eligible for. We earn a commission for providing our services, but this does not influence the interest rate you're offered in any way.
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What is HP car finance?
Car finance is a common alternative to purchasing your next car outright and involves an agreement with a lender to pay over an agreed time period.
HP (Hire Purchase) car finance allows you to hire the vehicle from a finance company until you've paid enough to own it outright, with fixed monthly payments and eventual ownership.
Your payments can depend upon what car you decide to purchase, how long you wish to purchase it over, whether you wish to own the car, and how much you wish to pay upfront.
Why Choose HP car finance?
Here at Fast Easy Finance, we’re committed to transforming lives, quickly and with no hassle. With a dedication to excellence and a commitment to unparalleled customer satisfaction, here`s why you should choose us:
What is HP car finance?
-HP (Hire Purchase) car finance allows you to hire the vehicle from a finance company until you've paid enough to own it outright, with fixed monthly payments and eventual ownership.
How does HP car finance work?
-With HP car finance, you typically pay a deposit followed by fixed monthly payments over an agreed-upon term. Once you've made all the payments, including any final balloon payment if applicable, you own the car outright.
What are the benefits of HP car finance?
-Benefits of HP car finance include eventual ownership of the vehicle, fixed interest rates, and the ability to budget with fixed monthly payments.
What are the drawbacks of HP car finance?
-Drawbacks of HP car finance may include higher monthly payments compared to other finance options, potential repossession if you miss payments, and restrictions on modifications or selling the car before ownership is transferred.
What are the different types of Car Finance?
We appreciate there are many different types of Car Finance products for you to choose from, and knowing which one meets your needs best is the key to happy financing. See a few of the different types below.
Hire Purchase (HP)
The loan is secured against the car, and you don't own it until you've reached the end of your agreement and paid the ’Purchase' fee.
A deposit may be needed but there would typically be no annual mileage restrictions.
Personal Contract Purchase (PCP)
The loan is secured against the car, but you don't own the car when the loan term ends.
Instead, you can choose to give it back, use any positive equity as a deposit in a new deal, or buy the car by paying the balloon payment.
Hire Purchase (HP)
The loan is secured against the car, and you don't own it until you've reached the end of your agreement and paid the ’Purchase' fee.
A deposit may be needed but there would typically be no annual mileage restrictions.