Finance Calculator
What is HP Car Finance (Hire Purchase)?
Hire purchase, commonly known as HP, is a financing option that allows individuals or businesses to acquire an asset and use it while making fixed monthly payments. Ownership of the asset is transferred to the buyer once the final payment is made.
How does it work?
Each monthly payment covers both the cost of the asset and the interest charged. Once all payments, including any final balloon payment if applicable, are completed, ownership of the asset is transferred to the individual. Optionally, there may be a purchase fee involved if the individual chooses to buy the asset at the end of the term.
Contract agreed
Gain control of car without ownership
All instalments paid
Ownership transferred to you
Pros and Cons
Gain control of car without buying outright
Fixed-rate funding making budgeting hire purchase easier
Total sum of payments for hire purchase is higher than the full payment of asset purchase
Costs can be incurred for admin, if required, such as change of asset address
How do I apply for HP Car Finance (Hire Purchase)?
Speak to our finance experts today via the form or give us call.
Call 03451 303030 and let's talk options!
PLUS ...You can also check our our handy instant car finance calculator to get a quick heads-up on the costs before we chat
Representative APR 14.9%
"*" indicates required fields
solutions for every situation
Our flexible finance options
Discover the Holmesdale difference...
We go the extra mile to get you on the road!
I was very impressed with the speed and efficiency of Holmesdale finance. They came back to me within 30 mins with a very competitive quote on numbers and actually helped advise on the best way to structure the deal.
Gavin Arber
Kevin helped me to sort the finance for my car about a week ago now, he was on it straight away and managed to sort suitable finance deal for me within about half an hour of enquiring! Would highly recommend!
Dan Jenkins
I can highly recommend Holmesdale. Andrew sorted my car finance with the best possible rate through their financial institutions. Any uncertainty or questions, Andrew went through my concerns one by one.
Nick Lacovou
