HP, simple and straightforward
Available for private and business users, HP is a very straightforward method of financing a vehicle which results in you becoming the owner at the end of the finance period.
With hire purchase you pay an initial deposit, followed by fixed monthly payments over an agreed period of time.
Interest is applied to the outstanding balance throughout the duration of the agreement. However, this is split equally across all of the repayments resulting in a fixed monthly amount.
For businesses the interest portion of the repayments are 100% tax deductible and 25% of the net value of the vehicle can be offset against tax each year.