Provide a deposit and pay for your car across monthly installments. You then have the option to buy the vehicle at the end of the fixed term contract.
A hire purchase is a straightforward way to finance your classic car. Simply put down a deposit and the remaining balance is divided equally over the term of the loan. A fixed rate of interest is charged along with fixed monthly payments. At the start of the agreement, you decide the amount of deposit you would like to pay, typically 20% – 50% of the car’s price. The remaining balance, together with the interest, is repaid over an agreed period usually between one and five years. At the end of the fixed term contract, you then have the option to buy the vehicle.
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