Like our traditional Hire Purchase (HP) product, you can spread the cost of the vehicle by paying in 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 they are on our HP product.  

When you have paid off the finance agreement, as well as the final balloon payment (also known as the Guaranteed Minimum Future Value or GMFV) and any final administration fees that apply to the contract, the vehicle becomes yours. 

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

Pros & Cons

Generally lower monthly repayments than a typical Hire Purchase agreement

Flexible repayment terms 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

At the end of the agreement you can purchase the vehicle outright, or use it as part exchange against your next vehicle, subject to dealer acceptance

You don’t own the vehicle until you’ve made your final payment, including the final balloon 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

Finance is subject to affordability checks and is only available to UK residents aged 18 and over. If you don't keep up with your repayments, the vehicle may be repossessed.