Personal hire Purchase (HP) is a vehicle finance agreement available to private individuals.
What is Personal Hire Purchase ( HP )?
You will normally pay an initial deposit and the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends and you own the car.After an a initial
How could it work for you?
The vehicle will be in your name and once the hire purchase agreement has ended you will own the it.
Suitable For
- Private individuals who do not wish to be tied into mileage restrictions
Main Features
- You’ll be able to drive away a car that you may not have managed to buy outright.
- Unlike a PCP or PCH contract, you won’t need to estimate your mileage at the start of your Hire Purchase agreement, so you’ll avoid excess mileage charges.
- Once you’ve made your final monthly payment, you’ll have full ownership of the car.
VAT Treatment
- No VAT included on rental
End of Contract
- Once you have made your final payment you will have full ownership of the vehicle
ecofleet Features
- Buying power ensures consistently keen pricing
- Cars delivered FOC
All information provided on this site is for guidance only. We recommend that you seek professional advice from your accountant and tax office before making any decisions. eco fleet uk Ltd accepts no legal liability for the information given as it has been provided for illustration only. It is your responsibility to check the validity of this with the relevant authorities.
