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Making Finance Simple
Hire Purchase
Hire Purchase (HP) Car Finance at HPL Motors
Straightforward Ownership, Fixed Payments - HP Finance Made Simple
Hire Purchase (HP) is the most straightforward car finance option available, offering a clear path to vehicle ownership with fixed monthly payments. At HPL Motors, we've helped thousands of customers secure quality used cars through HP finance, providing transparent agreements with no hidden surprises at the end.
With over 30 years of experience and relationships with leading lenders across the country, we make HP finance accessible, whether you're buying your first car or need reliable transport for years to come.
Our promise: Transparent advice, competitive rates, and HP solutions that lead to guaranteed ownership.
Check Your HP Finance Options in 60 Seconds
Find out what you could borrow with our free soft credit check - there's no impact on your credit score, and you gain instant results from our panel of trusted lenders.
Get your personalised HP quote in seconds and browse over 1,000 quality used cars across our four North West showrooms!
What is HP Car Finance?
Hire Purchase (HP) is a straightforward finance agreement that allows you to spread the cost of your used car over a set period with fixed monthly payments. Unlike PCP, you're paying for the entire value of the car, which means you'll own it outright once your final payment is made.
With HP finance, there are no complicated decisions at the end of your agreement - the car is simply yours to keep, modify, or sell as you wish.
Why Choose HP Finance for Your Used Car?
Guaranteed Ownership
Once your final payment is made, the car is yours, so there are no optional payments and no decisions to make - just straightforward ownership with a clear end goal.
No Mileage RestrictionsÂ
Drive as many miles as you need without worrying about excess charges. Hire Purchase is perfect for high-mileage drivers or those with unpredictable driving patterns.
Build Equity from Day One
Every monthly payment you make reduces the outstanding balance, building your equity in the vehicle. You're always moving towards full ownership.
Is HP Right for You?
HP finance works best for drivers who:
- Want to own their car outright at the end
- Drive high mileage or have unpredictable driving patterns
- Prefer simple, straightforward agreements Â
- Want the freedom to modify their vehicle
- Plan to keep their car for many years
- Don't want mileage restrictions or end-of-agreement decisions
When HP Might Not Be Ideal
HP may not suit you if:
- You prefer lower monthly payments (PCP might be a better choice in this case)
- You like changing cars every 2 to 4 years
- You want protection against depreciation
- You prefer walking away at the end without any ownership responsibilities
If the above sounds more like you, Personal Contract Purchase (PCP) car finance might be a better fit - speak to our dedicated HPL finance specialists for personalised advice.
Understanding Your HP Agreement
The Deposit
Your deposit amount directly affects your monthly payments - the larger your deposit, the lower your monthly cost. We can offer the following:
- Standard deposits between 10% to 20% of the car's value
- Zero deposit options (available subject to credit approval)
- Part-exchange service so you can use your current car's value as a deposit
Monthly Payments Explained
Your HP payments cover:
- Principal amount - The remaining balance of the car's purchase price
- Interest - The cost of borrowing, spread across your agreement term
- Optional extras - Any additional products you choose (for example, warranty or servicing)
Agreement Terms
HP agreements typically run from 1 to 5 years, giving you flexibility to choose a term that suits your budget and circumstances.
Automatic Ownership
Once your final monthly payment is made, you automatically become the legal owner of the vehicle. There are no additional fees or optional payments required.
No Mileage Limits
Unlike PCP or leasing agreements, HP has no annual mileage restrictions. Drive as much as you need without worrying about excess charges.
HP Used Car Finance Across Manchester & Lancashire
For over 30 years, HPL Motors has been the trusted choice for HP used car finance across Manchester and Lancashire. Our four showrooms located across the North West of England put quality used cars and expert HP advice right on your doorstep.
Are You Ready to Explore HP Finance?
Discover how HP could work for you with our 60-second soft credit search, or speak to our finance specialists for personalised guidance.
Local Expertise, Regional Coverage - HP Finance Where You Need It!
FAQs
- Can I pay off my HP early?
Yes, most Hire Purchase agreements allow early settlement. This means you can pay off the remaining balance at any time, although be aware that early settlement charges may apply.
- What happens to the car during my HP agreement?
You'll have full use of the car during your agreement, and once the final payment is made, you'll own it outright. You're responsible for insurance, maintenance, and MOTs throughout the term
- Can I modify the car during my HP agreement?
Yes! Since you're purchasing the car, you're generally free to make modifications during the agreement. However, it's worth checking with us first, especially for major modifications.
- What condition must the car be in during HP?
As the future owner of the vehicle, you're responsible for maintaining the car in roadworthy condition. Unlike PCP or leasing, there are no specific return condition requirements since you'll own the car.
- Can I get HP with bad credit?
Yes, we work with specialist lenders who consider applications from customers with various credit backgrounds. Terms may differ, but HP is often available even with a poor credit history.
- What's the difference between HP and PCP?
With HP, you own the car automatically at the end of the agreement and have higher monthly payments but no mileage restrictions. With PCP, you have lower payments but mileage limits and various choices to make at the end.
- Can I sell the car before the HP agreement ends?
Yes, you can settle the finance agreement early and sell the car. If it's worth more than the settlement figure, you keep the difference. If it's worth less, you'll need to pay the shortfall.
- What happens if the car is written off during my HP agreement?
Your insurance should cover the outstanding finance balance. We recommend investing in GAP insurance to cover any potential shortfall between the insurance payout and the outstanding finance.