Hire Purchase Cardiff

Purchasing your ideal car could not be any easier, with our Hire Purchase finance deals. At Smile Car Finance Newport, we offer variable and unique packages to our customers which make repayments on your motor low-priced and effortless. But what precisely is Hire Purchase finance?

Hire Purchase finance is a well-known method of financing a car, which involves securing your perfect motor with an agreed-upon total of deposit, and paying off the remaining balance of the total with equal monthly repayments for an agreed-upon period. You may also want to think about using a hire purchase finance calculator to determine the amount of deposit you can afford before choosing a motor. The figure of these equal repayments is established by how much the car is valued 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 vehicle will be wholly paid up. At the end of the contract, when you have made your last payment to the dealership, the car is yours to keep and you will be the owner.

The great thing about Hire Purchase finance is that you can agree on a deposit total with your dealer, and this determines the amount of money which will be paid back every month, making it an exclusive deal for your requirements. For example, if you pay a large sum of deposit, you will have smaller monthly repayments throughout the specified period of your contract and vice versa. Hire purchase for vehicles typically lasts about five years, although that specific period of time will be arranged with your dealer to suit both of your needs.