Hire Purchase Swansea

Getting your perfect car could not be any easier, with our Hire Purchase finance offers. At Smile Car Finance Swansea, we provide flexible and unique packages to our customers which make repayments on your car economical and simple. But what is Hire Purchase finance?

Hire Purchase finance is a common approach to financing a vehicle, which includes securing your perfect motor with an agreed-upon sum of deposit, and paying off the remaining balance of the total with equal monthly repayments for an agreed-upon stretch of time. You may also want to think about using a hire purchase finance calculator to ascertain the amount of deposit you can afford before finding a vehicle. The total of the equal repayments is calculated by factors such as how much the car is valued at the point of sale, how much deposit is put down to secure the car and the length of time in which you both agree upon, as to when the car will be entirely paid up. At the end of the agreement, when you have made your last payment to the dealership, the motor 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 price with your dealer, and this establishes the amount of money which will be paid back every month, making it a bespoke deal for your situation. For example, if you pay a larger 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 amount of time will be organised with your dealer to suit both of your needs.