Tuesday 6 December 2016

Charlie Weston: Look at the costs before getting into a HP deal

Published 23/02/2010 | 05:00

THINKING about buying a new car? Then be careful you do not get bounced into a hire-purchase agreement (HP) unknowingly, unless you are very sure that is the type of financing deal that you want.

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Garages will offer to arrange finance for you, but often the finance package they offer is a hire-purchase agreement.

This is convenient as it saves you having to go through the cumbersome process of negotiating a loan from a bank or building society at a time when lenders are reluctant to give out loans.

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