What is Car Hire Purchase?

  • No Deposit
  • We help find you the perfect car
  • PCP and HP from 8.9% APR
  • Free car history and dealer quality check
Get a Quote Does not affect credit score
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Car Hire Purchase is possibly one of the easiest finance options to understand. You effectively hire a vehicle from a finance company for an agreed period of time.

As such a Hire Purchase finance agreement is one of the most common methods of paying for your new vehicle, typically lasting 2-3 years. It can stretch to 5 years to meet your needs.

You come to an agreement with the finance company about your initial payment (unless predefined by the finance company), your monthly payments and the term of the policy. At the end of the agreement (assuming everything has been paid under the agreement) then the title to the vehicle is transferred over to and you become the legal owner.

As the lender is keeping the ownership of the vehicle until the end of the agreement this gives them more security in the event of payment problems. The lender can also offer you more attractive terms and conditions because they keep ownership of the vehicle until you make your final payment of the car hire purchase plan.

Representative Example: Borrow £7,000 with £1,000 deposit over 48 months with a representative APR of 17.9%, monthly payment would be £171.83, with a total cost of credit of £2,247.83 and a total amount payable of £8,247.83. CarMoney Limited can introduce you to a limited number of finance providers based on your credit rating and we will receive a commission for such introductions this can either be a % of the amount borrowed or a flat fee. This does not influence the interest rate you’re offered in any way. CarMoney is a broker not a lender.



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Keep Your Credit Score Unaffected


  • Once you make your final payment you own the vehicle
  • Convenient straightforward application process
  • Fixed repayments and interest rates
  • Additional protection over a personal loan
  • Payments and term to meet your budget
  • Keeps existing credit lines free
  • There is no need to estimate the mileage at the outset
  • Rebate of future interest if you settle your agreement early
  • Additional customer protection with regards to the satisfactory quality of your vehicle


  • The loan is secured against the vehicle. If you miss payments on the loan the vehicle may be repossessed
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Hire Purchase for Premium Brands

Car Hire Purchase is a straightforward route to owning a premium vehicle like a BMW. This is a great way to spread the cost of your vehicle over a fixed term while still owning the vehicle at the end of the contract.

At the end of the agreement, the car is yours to keep, sell or trade in for an upgrade! And Nikki will be here for you when you are ready to do just that!

Frequently Asked Questions

Which car should I choose to finance?

When choosing a car to buy and finance, consider your needs and personal circumstances, such as budget, family size, fuel efficiency, performance, features, and type of car (e.g., SUV, sedan, hatchback). Once you have considered your needs and budget, research different models to find out which is best for you!

Can I finance a car without a deposit?

Yes, it is possible to finance a car without a deposit. There are a number of car finance companies that offer zero deposit deals. However, it is important to note that these deals are typically more expensive than car finance deals with a deposit, as the lender will be taking on more risk. You may also need to meet stricter lending criteria to be eligible for a zero deposit car finance deal.

How it works
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Apply online in 2 mins

Quickly and easily apply online. It only takes 2 minutes to provide all the information we need to get you a car finance decision.

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We’ll find your best deal

We’ll find you the best finance rate and ensure your new car is HPI checked from a good dealership!

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You drive away happy

We’ll sort all the details and you just decide when to collect your new car… or we can deliver it to you!

Join thousands of happy customers

Our customers love our CarMoney Ninjas

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CarMoney Ninja Sean

“Great service, Sean Davidson was great and was always trying to help and give me the easiest experience possible. Thank you very much Sean.”

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CarMoney Ninja Alan

“Alan, who I spoke with on the phone, was amazing! He sorted everything out for me, it was so easy and was able to get my car the very next day. Fantastic!”

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CarMoney Ninja Sophie

“Sophie who sorted my finance out for car was amazingly nothing was too much trouble for her always kept me up to date. Five stars Sophie. Thanks for everything”

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CarMoney Ninja Ellie

“My ninja from start to finish Ellie McGavin I Needed a car it was complete from picking to collecting within 2 days friendly staff great communication brilliant.”

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CarMoney Ninja James

“Excellent professional and courteous service nothing too much trouble James was thoroughly committed to helping me source my car”.

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CarMoney Ninja Frazer

“Frazer from car money made the experience of getting a car simple and easy. Would definitely recommend to family and friends. Thanks again CarMoney!”

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Your Questions Answered

CarMoney LIMITED is authorised and regulated by the Financial Conduct Authority (FCA) for consumer credit activity and our registration number is 674094. Representative 17.9% APR. Over 18’s only. CarMoney IS A BROKER NOT A LENDER.

REGISTERED ADDRESS: Pioneer House, 2 Renshaw PL, Motherwell, ML1 4UF, Scotland.Company Number: SC467274.

All finance is subject to status and income. Written Quotation on request. CarMoney Limited can introduce you to a limited number of finance providers based on your credit rating and we will receive a commission for such introductions.