Explained: Hire Purchase (HP) Car Finance | U Car Finance UK
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Hire Purchase (HP)

Hire Purchase (HP)
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Hire Purchase (HP)

Hire purchase (HP) is currently one of the most commonly used vehicle finance method used to purchase a vehicle. With hire purchase (HP) agreements, once you have been approved for a loan, you are free to purchase a vehicle of your choice from any reputable UK dealers. The loan is usually repaid in fixed monthly repayments over a pre-agreed period (typically 12 to 60 months). With HP the vehicles are usually held as secured collateral against the loan. Here at U Car Finance, we can finance a wide range of vehicles, including taxis and caravans, in most cases, no deposit is required.

What Criteria Will I Need To Meet?

You must be over the age of 18 to apply for finance. However, a full UK driving license is required. When applying for an HP arrangement, we will carry out a credit check, if we are happy with the information, we will approve your loan automatically. However, in some instance, we might ask to provide us with proof of ID, proof of address and proof of income (i.e. payslip, bank statement). As a broker, we have a responsibility to act fairly, and as part of this, we have committed to follow the Standards of Lending Practice.

Here at U Car Finance, we do our best to get everyone approved. Although we cannot guarantee you a loan/finance, we welcome individuals with Good Credit, Bad Credit, Poor Credit, self-employed, CCJ’s or IVAs, we consider all our applicants on an individual case by case basis, this way we can take all small personal factors into consideration when making a decision.

Use our finance calculator to see what you could borrow today; our finance calculator can give an idea on your monthly repayments based on your credit rating. Alternatively, you can call 0330 445 5505 and talk to one of our friendly members of staff who will help you with any queries.

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U Car FInance
U Car Finance is one of the leading UK Car Finance Brokers, we are dedicated to giving our customers the best service as possible. We accept people who have been refused elsewhere, people with good credit, bad credit and people with no credit history at all.

Our Address

U Car Finance
208 Victoria Street (Ground Floor)
Oldham, OL9 0DA
United Kingdom

Opening Times
Mon-Fri: 9.00 am - 7.00 pm
Saturday: 9.00 am - 5.00 pm
Sunday: Closed

Our Contact Infomation

Contact us if you have any questions.

Click Here For Contact Form
Phone : 0330 223 4384
Email : info@ucarfinance.co.uk

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