Representative Example: You could borrow £10,699 over 60 months with an initial payment of £495.89 (including £199 Admin Fee) followed by 58 monthly payments of £296.89 with a final payment of £495.89 (including optional £199 Option to Purchase Fee). Total amount repayable will be £19,012,40. 26.1% APR, annual interest rate (fixed) 13.3%.
If you're facing long-term financial difficulties, you may have the right to voluntarily terminate your hire purchase agreement under UK law. This allows you to end your agreement and stop future payments, but you must return the car. You may still owe money if you're in arrears, haven’t paid at least half the total amount, or haven’t kept the car in reasonable condition. The impact of voluntary termination depends on factors like the car’s value, how much you’ve paid so far, and any deposit. You’ll find more details on page 2 of your hire purchase agreement, or you can contact us to discuss your options.
