Hire Purchase (HP)

A Hire Purchase (HP) product is suited for customers who want to own their car outright at the end of the agreement. It's a clear path to ownership, often chosen by those who plan to keep their vehicle for a longer period. At the end of your agreement, you have one main option: Own your car. Once all your regular monthly payments are made, you will own the car. There is usually a small 'Option to Purchase' fee at the very end, which transfers legal ownership to you. Under the agreement, you are required to maintain a comprehensive motor insurance policy in respect of the goods with a reputable insurer of your choice.