Supercar Hire Purchase

What is a hire purchase agreement?

Owning your own supercar, classic car or prestige car has never been more affordable, thanks to our hire purchase options.

Choosing a hire purchase agreement allows you to pay for your car in monthly instalments and then you have the option to buy the vehicle at the end of the fixed term contract. Normally the APR (Annual Percentage Rate) is set before the contract begins, and loan periods are typically three to five years.

Once you have found the vehicle you would like to buy, let us know how much you want to borrow, based on the price of the vehicle minus any deposit. Many of our customers choose to part-exchange their existing vehicle to help cover the deposit.

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Flexible

Bespoke Finance

We are a direct lender and we assess every finance application individually. We will assess your eligibility and make sure we offer a loan that suits your financial circumstances.

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Great

Customer Service

We’ve built great relationships with classic car dealers and auction houses and have a wealth of industry knowledge which enables us to offer the best advice at every stage of the buying process.

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Fast

Decision Making

We’ve paid out deals in less than 24 hours and £1m+ deals in less than a week, enabling our clients to act fast when they require cash.

Hire Purchase Process

How hire purchase works?

Once you have found the vehicle you would like to buy, let us know how much you want to borrow, based on the price of the vehicle minus any deposit. Many of our customers choose to part-exchange their existing vehicle to help cover the deposit.

If you are ready to start the journey towards owning the car of your dreams call us today on 020 3355 0035 and ask us for a quotation.

For more details check our extended ‘Guide to Car Hire Purchase’ >> >

1. Submit Application

3. Pay Deposit

2. Credit Approval

4. Drive Your Dream

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1. Get In Touch

2. Submit Application

3. Pay Deposit

4. Drive Your Dream

Hire Purchase Calculator

CONTACT US TO RECEIVE A BESPOKE QUOTE

Advantages of Hire Purchase

Your finance agreement is secured against the vehicle.

You are the vehicle’s registered keeper, which means you are responsible for the insurance and maintenance of the car.

JBR Capital remains the legal owner until the amount borrowed has been fully repaid, including the ‘option to purchase fee covering the admin costs when ownership is transferred.

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Not sure if this is

the right choice?

If you’re interested in finding out more about how hire purchase can put you on the path towards owning the car of your dreams, it’s well worth calling us on 020 3355 0035 and speak to one of our advisors.

At the end

of the agreement

At the end of your HP agreement, you have the option to either buy the vehicle or part-exchange it to get a newer model or a different vehicle. Once you settle your hire purchase contract you will become the outright owner of the car.

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Hire Purchase FAQs

Frequently Asked Questions

What is Hire Purchase?

Hire purchase or HP is a popular type of car finance which enables you to get a loan towards buying a new or used vehicle. Under the agreement you will put down a minimum of 10% deposit from the value of the car you purchase and agree to repay the loan over a period of time, usually between 3 and 5 years. The regular payments are lowering your outstanding loan, until it’s completely paid off at the end of your agreement.

Who owns the car?

The loan is secured against your vehicle, so the lender remains the legal owner of the car until the borrowed amount has been fully paid.

Can I reduce my monthly payment?

You can reduce your monthly repayments by putting down a larger deposit at the start of a finance agreement, or deferring a lump sum (also known as a balloon payment) until the end of the agreement, which can be a useful option in some circumstances. Call us to discuss your options and we can explain more.

How much deposit will I need?

Usually 10-20% of the cost of the vehicle. The exact sum will depend on your financial situation and whether you are buying a new or used car. However, there are a few agreements that do not require any deposit, whereas others may ask for up to 30 per cent to qualify for a low interest rate. Of course, the more money you can put down as a deposit the less you’ll have to borrow and therefore the lower your monthly repayments will be.

What to do if I can't afford payment?

In case you find yourself in financial difficulties and unable to pay your monthly rate, we highly advise you to notify one of our advisors about the change in your circumstances. As soon as you do this we can help you to avoid falling into arrears, which might affect your credit history.

Can I arrange finance for more than one car?

Yes – we have financed multiple car purchases for many clients. We look to build long-standing relationships with our clients and we’ll be happy to assess your requirements.

What interest rate will I be charged?

This will depend on the value of the car you are interested in buying, the type of finance you choose and your personal circumstances. If you’d like a personal quote, get in touch. We’d be happy to oblige.

I have bad credit; can I still get car finance?

The short answer is: Quite possibly. We take a holistic approach to credit underwriting and assess each application on its own merits. There are often very valid reasons why someone has a less than perfect credit history, and we always take into account each individual’s circumstances. If you’d like to discuss this, we’d be delighted to explain further.

Can I sell the car?

Once you’ve paid off the outstanding sum it’s yours and you can do whatever you like with it. However, while you’re still paying off the finance you aren’t legally entitled to sell the car.

Can I settle the agreement early?

Yes, but charges will usually apply – these are explained in the terms and conditions of your agreement. Please call us for further information.

Hire Purchase news & Guides

Market Analysis, Opinions Pieces, Customer Stories and more

Alternatives to HP Finance

View all of our Finance Products below

Lease Purchase

Equity Release

Auction Finance

Credit Line

RESTORATION FINANCE