Personal Hire Purchase
After paying an initial deposit, the balance of the purchase price is repaid by monthly payments. The agreement can be between one and four years sometimes five years, and when all the payments have been made you become the owner of the vehicle. These options are appropriate if it is important to you to retain your vehicles.
The benefits to you:
- You own the vehicle at the end of the agreement.
Considerations:
- All risks of ownership, maintenance, administration and disposal remain with you
- As you are paying for the vehicle in full you may need to consider that a larger deposit might be required at the start of the agreement, with larger monthly payments over a longer period of time.
Not sure if this is right for you? Take our 1 minute "Which finance option is best for me?" or get in touch and we'll help you
Testimonials
E-Drive assisted me with a recent vehicle purchase, they were very helpful and the deal went ahead with no hiccups or problems, I will be sure to use them again.
Advantage Geomatics
I was looking for 2 vehicles for my company ASK Mobile Phones, a commercial van and a 4x4. I contacted Stuart and he was able to find the new model of the 4x4 vehicle that we wanted despite the local dealership telling us the vehicle was not available on contract hire!
Adam Smith - Director ASK & Farebrother Smith