Hire Purchase has been the traditional way to fund a car purchase. Hire Purchase may be suitable if you want to make fixed payments throughout the term of the finance agreement and you want the option to own the car outright at the end of the contract.
How it works
- Decide on the car you wish to buy and the amount that you wish to borrow to fund the purchase taking into account any deposit you would like to make.
- Discuss with our sales team to decide on a monthly repayment amount and term that’s right for you.
- At the end of the finance agreement, and as long as you have made all of the monthly repayments including any option to purchase fee and have complied with the terms of the agreement, the car is yours.
- Once you have made all of the monthly repayments and have paid any option to purchase fee, you will own the car outright.
- Payments are fixed at the start of the agreement, enabling easy budgeting.
- No mileage restrictions.
- Flexible deposit and payment terms.
Those looking for a straightforward and simple finance agreement with the option to own the car at the end of the contract.
- You are the registered keeper during the term of the agreement so will be responsible for insuring and maintaining the car.
- The finance company, not Jardine Motors Group, will remain the owner of the car during the term of the finance agreement and they may be entitled to repossess the car should you not keep up the agreed payments.
- Interest will be payable to the finance company along with other charges in accordance with the finance company’s terms and conditions.
- As a result, you will pay more for the car than you would if you paid cash for the car and bought it outright.
- You will become the owner of the car at the end of the finance agreement provided that you have made all of the necessary payments including any option to purchase fee and have complied with the terms of the agreement.
Terms and Conditions
Jardine Motors Group trading as Lancaster is a credit broker and is not the lender.
Jardine Motors Group as a finance intermediary work with a range of manufacturer approved and other third party finance companies to arrange finance plans and may receive commission for doing so. Jardine Motors Group is not the finance company. Each of these finance companies will have their own deposit requirements, interest rates and terms and conditions, including those relating to status and affordability, and it is important that you consider these carefully when discussing your options.
To find out more, please contact Jardine Motors Group today by clicking the button below: