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Hire Purchase Finance Calculator

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Affordable Hire Purchase finance

Hire Purchase is Arnold Clark's best nearly-new and used car finance deal, created to give you low monthly car payments and a low fixed interest rate on your new car, making financing your car easy to understand.

Hire purchase allows you to finance your car over a 12–60 month period and gives you the security that you own the car at the end of term while still getting the benefits of competitive car finance rates and low monthly payments.

Benefits of Hire Purchase car finance

Low deposits and cheaper fixed monthly payments

7.9% APR Representative

No excessive final payment

You own the car after the agreed payment term

Offer subject to status. Terms and conditions apply.

How to find a Hire Purchase car

Hire Purchase is currently available on over 18,000 cars from Arnold Clark and all you have to do is look out for the Hire Purchase icon on your search results or filter your results to only show cars with Hire Purchase finance.

You can also use our finance calculator to tailor the deposit and terms to suit your circumstances.

Search all Hire Purchase cars
Arnold Clark sales advisor with a customer

Understanding your car finance with Hire Purchase

With Hire Purchase we can offer a competitive rate of car finance because we work with a group of dedicated lenders to find you the best used car finance deal. There are so many different car finance options available but with Hire Purchase, unlike a PCP finance deal, there's no balloon payment at the end of your finance term, you own the car.

We use what's called a representative example to help you understand your finance deal. Let's break down how it's calculated and what it means to you...

Representative Finance Example Edit
£{{ example.monthly_payment }} Per Month
£{{ example.deposit }} Deposit
{{ example.term }} Term (Months)
£{{ example.cash_price }} Cash Price
£{{ example.credit_amount }} Credit Amount
£{{ example.completion_fee }} Completion Fee
£{{ example.total_amount_payable }} Total Amount Payable
{{ example.fixed_interest_rate }}% Fixed Interest Rate
{{ example.apr }}% APR Representative
Monthly Payment+

Is the agreed fixed monthly payment you will make, each month, to eventually own your car.

Cash Price+

Is the price the car is being sold for.

Total Credit Amount+

Is the amount of credit you are going to finance. Normally it's the cash price minus your deposit.

Completion Fee+

This is a £1 fee charged at the end of your term to allow the ownership of the car to be passed to you.

Customer Deposit+

The amount you pay towards the car at the outset.

Fixed Interest Rate+

The interest you pay on the total amount of the car for the entire duration of the deal. Often referred to as flat rate.

Total Amount Payable+

The total amount payable for the car, including any interest payable over the term of your agreement.

Term (Months)+

How many months you are financing the car over.

APR representative+

APR is the total amount of interest on a loan. The lower % APR the less interest you pay back.

Am I eligible for a car loan?

Do you have a poor credit history but you're still interested in car finance? We work with a number of lenders to find you the best car finance deal, so try our car loan calculator to find your perfect car.

Learn about car finance

Terms and conditions

Offer subject to status, terms and conditions apply. Get more detailed information, including information about our panel of lenders.

Applying for finance

Arnold Clark Automobiles Limited and Harry Fairbairn Limited act as credit brokers sourcing credit to assist with your purchase from a carefully selected panel of lenders (find them listed here).

Lenders may pay us a fee for these introductions. A guarantor may be required. All offers and credit subject to status, terms and conditions. Applicants must be 18 years or over.

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