Rates from 28.5% APR
39.7% Representative APR -
Subject to status and affordability
Are you looking to spread the cost of buying a new car because you’re unable to pay for it upfront or perhaps you’re worried your poor credit history will affect your chances of getting finance?
At Go Car Credit, we specialise in helping people with bad credit get behind the wheel and onto the open road. Find out if hire purchase (HP) car finance could be the perfect option for you.
Representative example – Total amount of credit £8000, annual interest rate 20% (fixed), charge for credit £6711.44 (£6406.44 interest, £295 admin fee and £10 option to purchase fee), total amount payable £14711.44. Loan term of 48 monthly instalments, 47 payments of £306.28 and 1 final instalment of £316.28. 39.7% Representative APR – Subject to status and affordability
Hire purchase car finance gives individuals the chance to buy a vehicle without having to pay for the amount in full before they can drive it. When you come to Go Car Credit for this type of finance, you’ll be hiring your car from us and your purchase will be secured against the motor itself. That means the car is legally owned by us and you will be the registered keeper while you make fixed monthly payments across a set period of time. Once you have paid the car’s value in full, plus an amount of interest together with the £10 option to purchase fee, the car will be yours.
If you are unable to make the repayments, we will work together to resolve this problem. As a last resort, we can repossess the car but there are many steps that we will take before reaching that scenario.
Some of the key advantages of hire purchase finance include:
Before applying for hire purchase, it’s also important that you are aware of the disadvantages this type of loan brings. These include:
Do you believe that you might be rejected for hire purchase car finance because of a poor credit history? At Go Car Credit, we see our customers as individuals – not just a number.
Hire purchase could be a fantastic form of car finance if you have a poor credit rating or if you’re unable to get alternative forms of credit, such as a personal loan. Because HP loans are secured against the value of the vehicle, the lender can sometimes get their money back by repossessing the car if you’re unable to keep up with the repayments. Any outstanding balance owed following the return of the car could be owed in full .
If you have been turned down by other lenders in the past, it can be easy to get disheartened but it doesn’t need to be that way. Here are some reasons why you should come to us for hire purchase car finance:
It’ll only take you a couple of minutes to enter your details into our secure online application form, so why not do it now?
We’re here to help you walk on to a dealer’s forecourt with confidence. Contact our friendly, professional team on 01925 696373 and let us help you get the hire purchase car finance you need.