Vehicle finance discretionary commission complaints
The Financial Conduct Authority says some customers may have been charged too much on their vehicle finance before 2021.
Get support with commission complaintsHire Purchase (HP)
If you want the option to hand your vehicle back at the end of the agreement.
Spread the cost of your vehicle with option to buy or return
You put down a deposit and borrow the rest of the cost of the vehicle. You pay this remaining amount back monthly over the term of the agreement. At the end of the agreement you can choose to own the vehicle or hand it back.
Available for: cars, motorcycles and LCVs.
Initial deposit
You put down a deposit of around 10% of the vehicle price and pay the remaining cost of the vehicle over the term of the agreement.
Fixed monthly repayments
Monthly repayments are fixed during the agreement and spread equally throughout the term, including interest. The agreement is up to five years (60 months).
Optional balloon payment
An optional balloon payment is available, payable at the end of the agreed term. This can help to reduce the monthly payment amount.
Choose to own or return the vehicle
When the final payment is made, customers can pay the ‘option to purchase’ (OTP) fee and become the legal owner of the vehicle, or hand the vehicle back to us and walk away.
Finance is secured against the vehicle
If you're unable to keep up with their payments we may repossess the vehicle.
How it Works
Watch this introduction to Hire Purchase and see why it might be the right
choice for you.
Finance options to suit you
We have a range of finance products available to you, depending on your budget and your vehicle needs.
- Fixed monthly payments
- Early repayment options
- Own the vehicle at the end of the agreement
- Option to own the vehicle at the end of the agreement
- Option to exchange the vehicle at the end of the agreement
- Excess mileage charges
- Vehicle condition charges (Wear and Tear)
- Fixed monthly payments
- Early repayment options
- Option to own the vehicle at the end of the agreement
- Option to exchange the vehicle at the end of the agreement
- Excess mileage charges
- Vehicle condition charges (Wear and Tear)
Personal Contract Purchase (PCP)
If you want the option to change or upgrade your vehicle.
View product- Fixed monthly payments
- Early repayment options
- Option to own the vehicle at the end of the agreement
- Option to exchange the vehicle at the end of the agreement
- Excess mileage charges apply
- Vehicle condition charges apply (Wear and Tear)
The Business Finance Code sets out the high standards that Finance & Leasing Association (FLA) members, such as us, must meet when providing asset finance to businesses and the public sector.
If you feel that we have not complied with the Code, you can contact the FLA and take advantage of the complaints service they run. Further details can be found here: The Business Finance Code - Finance & Leasing Association (fla.org.uk)