Hire Purchase

Hire purchase finance deals for classic and high-performance cars

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.

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’ >> >

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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.

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.

Key Information

 

  • Your finance agreement is secured against the vehicle.
  • You are the vehicle’s registered keeper, which means you are responsible for 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.

Hire Purchase Finance Examples:*

*The figures shown below are purely for illustrative purposes. For your personalised rate please give our team a call on 020 3355 0035 – you may discover savings beyond those shown by the examples below.
land rover

Range Rover Autobiography

Year2019
Value£103,000
OUR FINANCE EXAMPLE
Deposit£10,300
Total amount of credit£92,700
Total charge for credit£17,356
48 monthly payments of£2,229
Total amount payable£120,356
Fixed rate of interest per annum7.48%
Duration of agreement49 months
Representative APR7.9%

 

porache

Porsche 911

Year1970
Value£90,000
OUR FINANCE EXAMPLE
Deposit£18,000
Total amount of credit£72,000
Total charge for credit£13,507
48 monthly payments of£1,728
Total amount payable£103,507
Fixed rate of interest per annum7.48%
Duration of agreement49 months
Representative APR7.9%

WE KNOW THAT EVERY CAR AND EVERY OWNER IS DIFFERENT.

More Finance Products

We take pride in the bespoke nature of our service and our core finance products can be tailored to meet your specific requirements. If hire purchase isn’t for you, we offer other options for financing your dream car, such as lease purchase or credit line finance. Alternatively, owners interested in unlocking capital in their vehicle can talk to us about equity release. Take a look at the relevant links below to discover more about the range of options available to you.

Why Finance with us?

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BESPOKE FINANCE

Finance personally designed to suit you and your vehicle

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EXPERT KNOWLEDGE

We specialise in high-end vehicles. That’s our only focus

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PERSONAL SERVICE

Face-to-face conversations, decisions made by humans

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COMPETITIVE RATES

Fast results, with the ability to achieve low monthly repayments

Prestige, Classic and Supercars we finance

+ More Marques

What our clients say

HIRE PURCHASE FAQs

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.

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.

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.

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.ts.

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.

What to do if you 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.

 

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