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Volkswagen Car Finance HP Car Finance
Hire Purchase (HP) is a straightforward way to finance a car and own it outright at the end of the agreement. Fixed monthly payments with no balloon payment or mileage limits.
With no impact to your credit score*
Calculate Your Finance
Estimated monthly payments
With no impact to your credit score*
We act as a credit broker, not a lender
Representative example: borrowing £6,500 over 5 years with a representative APR of 16.9%, an annual interest rate of 16.9% (Fixed) and a deposit of £0.00, the amount payable would be £161.19 per month, with a total cost of credit of £3,171.55 and a total amount payable of £9,671.55. This is an example only, lender fees may apply. The exact rate you will be offered will depend on your circumstances. All finance subject to status.
*After completing the application, lenders will perform a “soft search” that will not affect your credit score. Should you get an offer of finance and wish to proceed, the lender will then perform a “hard search” of your credit file. Finance acceptance is not guaranteed, please click the following link for more information: Initial Disclosure Document
Hire Purchase (HP) is one of the simplest and most transparent forms of car finance. You spread the cost of the vehicle over a fixed term with regular monthly payments, and once the final payment is made, the car is yours. There are no balloon payments, no mileage limits, and no surprises at the end.
How Does HP Work?
With HP, you typically pay an initial deposit (though we can arrange no-deposit deals), followed by fixed monthly payments over an agreed term, usually between 12 and 60 months. The total amount you repay covers the full price of the car plus interest.
Throughout the agreement, the finance company owns the vehicle. Once you've made your final payment, ownership transfers to you automatically. It's as simple as that — no end-of-term decisions to worry about.
Benefits of HP Finance
- Own the car outright once you've made all payments
- No mileage restrictions — drive as much as you like
- Fixed monthly payments so you always know what you owe
- No balloon payment at the end of the agreement
- Simple and transparent — easy to understand from start to finish
- Modify your vehicle once it's yours without any restrictions
Is HP Right for You?
HP is ideal if you want to own the car at the end of your agreement without any large final payments. It's a great choice for drivers who cover high mileage, want to modify their vehicle, or simply prefer the security of knowing the car will be theirs.
Monthly payments on HP are typically higher than PCP because you're paying off the full value of the car. However, there's no large lump sum at the end and no risk of excess mileage or condition charges.
HP vs PCP — What's the Difference?
The main difference is ownership. With HP, your monthly payments go towards owning the car outright. With PCP, your payments only cover the car's depreciation, leaving a balloon payment at the end if you want to keep it.
HP has higher monthly payments but no surprises at the end. PCP has lower monthly payments but comes with mileage limits and condition requirements. If you want certainty and full ownership, HP is the better choice.
How It Works
Getting car finance doesn't have to be complicated. Here's how our simple process works.
Apply Online
Complete our quick and easy application form in just a few minutes. It won't affect your credit score.
Get Matched
We'll search our panel of lenders to find the best deal for your circumstances.
Choose Your Car
Once approved, choose any car from any reputable dealer. Our Personal Shopper service can help.
Sign & Drive
Sign your finance agreement and drive away in your new car. It really is that simple!
With no impact to your credit score*
We act as a credit broker, not a lender
Representative example: borrowing £6,500 over 5 years with a representative APR of 16.9%, an annual interest rate of 16.9% (Fixed) and a deposit of £0.00, the amount payable would be £161.19 per month, with a total cost of credit of £3,171.55 and a total amount payable of £9,671.55. This is an example only, lender fees may apply. The exact rate you will be offered will depend on your circumstances. All finance subject to status.
*After completing the application, lenders will perform a “soft search” that will not affect your credit score. Should you get an offer of finance and wish to proceed, the lender will then perform a “hard search” of your credit file. Finance acceptance is not guaranteed, please click the following link for more information: Initial Disclosure Document
Frequently Asked Questions
Ready to Get Behind the Wheel?
Apply for car finance today. Our quick application takes just minutes and won't affect your credit score.
With no impact to your credit score*
We act as a credit broker, not a lender
Representative example: borrowing £6,500 over 5 years with a representative APR of 16.9%, an annual interest rate of 16.9% (Fixed) and a deposit of £0.00, the amount payable would be £161.19 per month, with a total cost of credit of £3,171.55 and a total amount payable of £9,671.55. This is an example only, lender fees may apply. The exact rate you will be offered will depend on your circumstances. All finance subject to status.
*After completing the application, lenders will perform a “soft search” that will not affect your credit score. Should you get an offer of finance and wish to proceed, the lender will then perform a “hard search” of your credit file. Finance acceptance is not guaranteed, please click the following link for more information: Initial Disclosure Document
