Our combination loan of Hire Purchase (HP) and personal loan can help you afford that little bit extra with your vehicle purchase.

You could use this product to clear up any negative equity on your current vehicle because our HP+ product delivers up to 130% of the CAP retail value. Up to 100% of the retail price +£1000 can be placed on the HP component, with an additional 50% of the retail price placed on the Personal Loan component.

The Personal Loan is designed to be used for:

  1. Settling a previous finance agreement (contra-settlements)
  2. Vehicle extras/accessories

When you have paid off the finance agreement, as well as the option to purchase fee, the vehicle becomes yours.

You can enjoy a one month payment holiday before your first instalment is due, with interest calculated from the day your agreement starts. 

Pros & Cons

Flexible repayment terms (from one to five years) to help suit your monthly budget

No minimum or maximum deposit price, so you can have more control over the amount of finance required

Fixed interest rates, so you know exactly what you’re paying every month for the length of the term

The HP and Personal Loan bolt-on are combined into a single monthly payment

A settlement figure is processed in the normal manner, quoting the combined settlement of both the HP and Personal Loan elements

In the event that the customer chooses to settle either schedule in isolation, the Direct Debit would automatically adjust to continue collection of the adjusted monthly repayment

You don’t own the vehicle until you’ve made your final payment, which means the vehicle could be repossessed if you do not maintain contractual payments

You cannot sell or give the vehicle away until you have paid all of the repayments under the finance agreement