Hire PurchasePersonal Contract PurchaseHire Purchase PlusBreezeVAT Assist
AssetCar, Van, MotorcycleCar, MotorcycleCar, VanCar, MotorcycleVan
Fixed monthly repaymentsYesYesYesYesYes
Deposit requiredOptionalOptionalOptionalOptionalNo
Optional balloon paymentNoYesNoYes (not optional)Yes
Ownership of the vehicle at the end of the agreement*YesYesYesYesYes
Pause monthYesNoYesNoYes
Term length12 to 60 months36 to 48 months12 to 60 months24 to 48 months12 to 60 months
Online accountYesYesYesYesYes
Exclusive access to shopping discountsYesYesYesYesYes


* Depending on the product, at the end of your agreement you can either:

        1) Transfer ownership of the vehicle into your name once you have paid off the final balance.

        2) Hand the vehicle back to the lender (Please be aware that there may be some additional charges if you have exceeded the mileage limit set out in your agreement, or if damage to the vehicle has occurred) - for PCP only.

        3) Part exchange the vehicles value against your next vehicle.

HP

Hire Purchase

You can spread the cost of your car, van, or motorcycle by paying fixed monthly instalments. With terms available from 12 to 60 months and an optional deposit amount, you can choose the right payment plan that suits your budget.

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

You can also enjoy a two month payment holiday on your agreement. Interest is calculated from the day your agreement starts.

PCP

Personal Contract Purchase

Spread the cost of your vehicle by paying fixed monthly instalments with terms up to 48 months.

This product contains a balloon payment at the end of the finance agreement, which would make the monthly instalment amounts lower than a traditional Hire Purchase (HP) agreement. This is great for customers who like to have the option to change their vehicle every 3 to 4 years.

When you have paid off the finance agreement, as well as the final balloon payment or Guaranteed Minimum Future Value (GMFV), the vehicle becomes yours.

Alternatively, you can return the vehicle to the lender or use it as a part exchange against your next vehicle. 

Please be aware that there may be some additional charges if you have exceeded the mileage limit set out in your agreement, or if damage to the vehicle has occurred.

HP+

Hire Purchase Plus

This is a combination of our Hire Purchase (HP) and a personal loan (+) when you purchase your vehicle.

The personal loan is designed to be used for:

•        settling a previous finance agreement; 

•        vehicle extras/accessories;

•        any additional products.

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

You can also enjoy a two month payment holiday on your agreement, with interest calculated from the day your agreement starts.

Breeze

Like our traditional HP (Hire Purchase) product, you can spread the cost of the vehicle by paying fixed monthly instalments with terms up to 48 months.

This product has a balloon payment at the end, which can make the monthly payments lower than our traditional Hire Purchase (HP) product.

When you have paid off the finance agreement, as well as the final balloon payment or Guaranteed Minimum Future Value (GMFV), the vehicle becomes yours.

Alternatively, you can return the vehicle to the lender or use it as a part exchange against your next vehicle, subject to dealer acceptance.

Please be aware that there may be some additional charges if you have exceeded the mileage limit set out in your agreement, or if damage to the vehicle has occurred.

VAT Assist

Our VAT Assist product is a traditional Hire Purchase (HP) loan where an amount equivalent to the VAT due is deferred to later in the agreement.

VAT Assist works like a traditional HP loan, the only difference being that the customer will not generally need to pay a deposit (although they can). The equivalent of the VAT due is then taken on the 3rd instalment as part of the payment plan.

Available to VAT registered business customers only.

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

You can also enjoy a two month payment holiday on your agreement. Interest is calculated from the day your agreement starts.