Flexible finance
at a speed that
suits you

from first cars to flash cars, we’ll find
the right deal for you.

Representative Example

Borrowing £5,500 over 48 months with a representative APR of 19.8%, the amount payable would be £163 a month, with a total cost of credit of £2,283 and a total amount payable of £7,783.

Click Car Loans is a credit broker, not a lender. Our rates start from 6.9% APR. The rate you are offered will depend on your individual circumstances.

View loan amount by:

My monthly budget

To pay back over

My credit score is

You could get a car worth

£6,847
No impact on your credit score

Representative Example

Borrowing £5,500 over 48 months with a representative APR of 19.8%, the amount payable would be £163 a month, with a total cost of credit of £2,283 and a total amount payable of £7,783.

Click Car Loans is a credit broker, not a lender. Our rates start from 6.9% APR. The rate you are offered will depend on your individual circumstances.

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Hire Purchase is one of the most commonly used forms of car finance. Hire Purchase agreements often have an upfront deposit to pay, followed by regular monthly payments. The bigger your deposit, the lower your monthly repayment cost will be.

At the end of a Hire Purchase agreement, you will legally own the car. You can also choose to settle your Hire Purchase agreement early by paying off the amount still owed to the lender.

Do I need a deposit on Hire Purchase car finance?

Generally, Hire Purchase agreements need you to put a deposit down on the car. This is usually around 10% of the value of the vehicle. If you choose to put down a bigger deposit, your monthly repayment cost will be lower.

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How does Hire Purchase work?

After you've decided the amount you would like to use as a deposit, the remaining value of the vehicle will be paid off in monthly instalments. Hire Purchase agreements usually last somewhere between 12 and 60 months (1 to 5 years). The monthly repayments are fixed and will be agreed upon before you sign your contract.

Your ClickCarLoans advisor will make sure that you are happy with your monthly repayment amount and make sure that you are able to make your repayments every month. Because we work with more than forty specialist lenders, you can be sure that you're getting the best rate on your Hire Purchase loan interest.

Will I own the car at the end of a Hire Purchase agreement?

Yes - at the end of your Hire Purchase agreement, you will own your car. Unlike a PCP agreement, there is no balloon payment to make at the end of a Hire Purchase contract.

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Can I end a Hire Purchase agreement early?

If you’d like to end your Hire Purchase contract, you will have to settle the remaining balance of the loan. You should be aware that, until your final payment has been made, the vehicle legally belongs to the lender you are in contract with. This makes it illegal to sell a car mid-way through a Hire Purchase agreement.

To end your agreement, you must have paid at least 50% of the total finance amount. If you haven’t yet repaid half of the total finance amount, you can settle this difference, and then cancel the contract and return the vehicle.

The amount any lender can charge you for early settlement of a Hire Purchase agreement is capped by law.

The limit of what you can be asked to pay is the outstanding amount you borrowed (without the interest), plus whichever is lowest of the following amounts:

1% of the amount repaid early (e.g. £100 if you have an outstanding balance of £10,000)

0.5% of the amount repaid early if less than 12 months are remaining on the agreement (e.g. £50 if you have an outstanding balance of £10,000)

The remaining interest on the original agreement

If you cancel your Hire Purchase agreement using the terms laid out above, you will have to return the vehicle. Alternatively, you can settle the entire balance of the agreement, and you will then own the car.

Is there anything I need to know before taking out a Hire Purchase agreement?

If you’d like to buy your car through a Hire Purchase agreement, we’ll work hard to find the best available deal for you.

We’ll:

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Find finance with the best possible APR

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Make sure you know what the overall cost will be

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Get quotations from over forty specialist lenders, so you’ll always have the most competitive rate

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Haggle on your behalf if we think we can get you a lower rate

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Find a selection of deals that fit your requirements, so you can choose the option that’s best for you

Still questions about getting a car finance quote?

Our dedicated team of advisors are happy to help.

Call us on
0333 005 0001
Free phone between 9am - 7pm
Lines are open

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