Hire Purchase Explained
Hire Purchase is a really simple, affordable and straightforward route to ownership, whether you are buying a new or used car. You can relax knowing you are in control as you budget your way to buying your new car. With Hire Purchase you can finance your car over a period of time that you choose between 1 to 5 years. With Hire Purchase, Volkswagen Financial Services will purchase the car on your behalf. After placing a deposit, equal monthly payments over the period of the agreement will be agreed.
Once all of the payments have been made, you become the owner of the vehicle. By paying the same each month it’s easy to manage your personal budget. With a minimum of 10% deposit, Volkswagen Financial Services will organise your fixed monthly payments or you can have an individual tailored plan, spread between 12 months to 5 years.
Stay in control
With Hire Purchase, your budget stays in control and you can relax and enjoy the journey.
- Choose the vehicle and repayment period that’s right for you
- Pay an initial deposit to start the agreement
- The balance is then divided equally depending on the length of term to suit your budget
- After the final payment, you own your vehicle
- Fixed interest rate for the duration of your agreement
- Fixed repayments for ease of cash flow and budgeting
- Flexible terms - any monthly interval between one and five years
- Available for new and used cars