Vehicle finance discretionary commission complaints
The Financial Conduct Authority says some customers may have been charged too much on their vehicle finance before 2021.
Get support with commission complaintsHire Purchase (HP)
If you want the option to hand your vehicle back at the end of the agreement.
Spread the cost of your vehicle with option to buy or return
You pay a deposit and borrow the rest of the cost of the vehicle. You make monthly repayments for the term of the agreement which covers the remaining amount that you borrowed. At the end of the agreement, you can choose to own the vehicle or hand it back.
Available for: cars, motorcycles and LCVs.
Initial deposit
You put down a deposit of around 10% of the vehicle price and pay the remaining cost of the vehicle over the term of the agreement.
Fixed monthly repayments
Monthly repayments are fixed during the agreement and spread equally throughout the term, including interest. The agreement is up to five years (60 months).
Optional balloon payment
You have the option to make a balloon payment at the end of the agreed term. This can help to reduce your monthly repayment amount.
Choose to own or return the vehicle
After you’ve made your final monthly repayment, you can choose to pay the ‘option to purchase’ (OTP) fee and become the legal owner of the vehicle, or choose to hand the vehicle back to us and walk away.
Finance is secured against the vehicle
If you're unable to keep up with your repayments, we may repossess the vehicle.
See how it works
Watch this introduction to Hire Purchase and see why it could be the right choice for you.
Finance options to suit you
We have a range of finance products available to you, depending on your budget and your vehicle needs.
- Fixed monthly repayments
- Early repayment options
- Option to own the vehicle at the end of the agreement
- No option to exchange the vehicle at the end of the agreement
- No excess mileage charges
- No vehicle condition charges (fair wear and tear)
Hire Purchase (HP)
For Limited companies looking to own the vehicle in the long run.
Current product- Fixed monthly repayments
- Early repayment options
- Option to own the vehicle at the end of the agreement
- No option to exchange the vehicle at the end of the agreement
- No excess mileage charges
- No vehicle condition charges (fair wear and tear)
- Fixed monthly repayments
- Early repayment options
- Option to own the vehicle at the end of the agreement
- Option to exchange the vehicle at the end of the agreement
- Excess mileage charges
- Vehicle condition charges (fair wear and tear)
The Business Finance Code sets out the high standards that Finance & Leasing Association (FLA) members, such as us, must meet when providing asset finance to businesses and the public sector.
If you feel that we have not complied with the Code, you can contact the FLA and take advantage of the complaints service they run. Further details can be found here: The Business Finance Code - Finance & Leasing Association (fla.org.uk)