Hire Purchase (HP)
Hire Purchase is perhaps the most well known method of motor vehicle finance and can be tailored specifically to the individual or company - both new start business and established companies and thus having a poor credit history or bad credit may not be a bar to finding car finance to enable you to drive the car of your choice at an affordable price. Hire purchase (HP) agreements provide both companies and private individuals with car finance to fund their motoring needs. Even if you are a new start business which has a poor credit history or adverse credit; an established company with a poor credit history, adverse credit or bad credit or perhaps as a private individual you have been involved in an IVA or bankruptcy then this may not exclude you from finding motor finance through a hire purchase agreement.
Hire purchase as a method of car finance is a popular and beneficial choice for private consumers as well as some companies or sole traders; including those companies (both established companies or new start businesses) who may have credit problems such as no credit history, a poor credit rating, adverse credit or bad credit); or individuals who have a poor credit history or adverse credit, including those currently in an IVA or with an involvement in bankruptcy proceedings. Hire purchase is a very easy way of spreading the cost in budgeted monthly payments over a fixed period of time. Under a hire purchase (HP) agreement, you pay an initial deposit followed by the monthly payments (a portion of the money you borrowed plus interest) over an agreed period - usually 36 or 48 months. At the end of the hire purchase agreement the vehicle then becomes your property. A hire purchase agreement can be an ideal solution for those individuals who receive a monthly car allowance, as all or part of the allowance can be used to fund the monthly payments on the hire purchase agreement and with any shortfall between the individual's car allowance being made up by the user. Remember, a hire purchase agreement can be made available to you even if you have an IVA or have been through bankruptcy as well as if you have a poor credit history, no credit history, bad credit or adverse credit.
A hire purchase agreement can be a simple and affordable way for everyone, including new start businesses with a poor credit history, bad credit or adverse credit, established businesses with bad or adverse credit and also for private individuals who find themselves with a bad credit rating or a poor credit history. Here at yourcarchoice.com our team are experts in providing car finance using hire purchase agreements and if you have bad credit or even CCJs we are able to write a hire purchase agreement to provide your motor vehicle finance for you.
