Hire Purchase Bridgend
Buying your perfect car could not be any easier, with our Hire Purchase finance offers. Here at Smile Car Finance Bridgend, we offer versatile and distinctive packages to our customers which make repayments on your vehicle low-priced and simple. But what precisely is Hire Purchase finance?
Hire Purchase finance is a common way to finance a car, which involves obtaining your dream car with an agreed-upon total of deposit, and paying off the rest of the total with equal monthly repayments for an established period of time. You may also want to consider using a hire purchase finance calculator to ascertain the amount of deposit you can afford before choosing a vehicle. The cost of these equal repayments is decided by how much the car is worth at the point of sale, how much deposit is put down to secure the car and the amount of time in which you and your dealer agree upon, as to when the motor will be completely paid up. At the end of the finance contract, when you have made your final payment to the dealership, the car is yours to keep and you will be the owner.
The wonderful thing about Hire Purchase finance is that you are able to agree on a deposit sum with your dealer, and this determines the amount of money which will be paid back every month, making it an individual deal for your situation. For example, if you pay a substantial amount of deposit, you will have smaller monthly repayments throughout the specified period of your contract and vice versa. Hire purchase for cars typically lasts around five years, although that specific period of time will be organised with your dealer to suit both of your needs.