We use cookies to give you the best possible experience on our site and allow us and third parties to customise the marketing content you see across websites and social media. By managing your preferences here, you can refine the data you are happy for us to track. By using our site, you agree to our Privacy Policy

Your Privacy

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalised web experience.
Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings (click 'Accept' to opt in or 'Reject' to opt out). However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.

Strictly Necessary Cookies


Necessary cookies are absolutely essential for our website to function properly. These cookies ensure basic functionalities and security features of our website, anonymously.

The site needs these cookies

Analytical/Performance Cookies

Analytical cookies help us to understand how visitors interact with the website. These cookies help us to provide information on metrics the number of visitors, bounce rate, traffic source, etc.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps us to deliver a better browsing and user experience for the visitors.


Advertisement cookies help us decide which products, services and offers may be relevant for you. We use this data to customise the marketing content you see on websites, apps and social media. They also help us understand the performance of our marketing activities. These cookies are set by us or our carefully-selected third parties.
Hire purchase HP car finance at Inchcape

Hire Purchase (HP) Finance Guide

Own your car outright, once all payments have been made

HP Finance Explained

Hire Purchase is the most straightforward method of financing your car. Just decide how much you want to borrow (you don’t always need pay a deposit) and repay with fixed monthly payments over any period up
to 60 months. At the end of the contract the car is yours. With HP, you will only own the car once the final payment is made, so although you can't sell the car without getting the finance provider’s permission, you may be able to part-exchange it if you're in positive equity.

If you decide you want to pay off the agreement early, this is also a possibility. You can clear the balance of your Hire Purchase agreement, and any interest that would have been payable on the outstanding balance is waived.

If you miss a payment just like a mortgage, the finance company can legally repossess the car if you fall behind on your payments. So if you’re struggling to meet your repayments for any reason, contact the finance provider ASAP.

Do you have historic credit issues?
Inchcape are here to help you find your perfect vehicle thanks to our Impaired Credit Car Finance.

Hire Purchase at Inchcape

What are the benefits of HP?

Hire purchase is another way saying ‘loaned until it’s paid for’. You agree a price for the car and a period over which to pay it off. The biggest benefit with HP is that once you've made your last payment, legal ownership transfers into your name and the car is yours to keep, sell or part-ex.

There are no mileage limits, so if you’re a high-mileage driver this can work out cheaper than a PCP deal. And the monthly payments are fixed for the duration of the agreement, so you’ll know exactly what you’re going to be paying. 

Contact a member of the team today and find out more.

Key features of Hire Purchase (HP) include the following:

Fixed repayments
At the beginning of the agreement, both the amount you pay every month, and the repayment period, is fixed and will not change. This is great for your budgeting.

Fixed interest
Even if interest rates go up, the interest rate on your finance repayments will not be affected.

Flexible payments terms

Choose any period from 12 months to 60 months to suit your budget. You work out what you want to pay each month and we’ll work out how many months to repay it over to get you into your ideal car.

Ultimate Ownership

Once you have made all the repayments, you own your car

Contact a member of the team at Inchcape to find out more.