If you borrow £5,750 and pay a £250 deposit to the dealer for a car with a cash price of £6,000 over 36 months at a Representative APR of 7.9% and an annual interest rate of 7.63% (fixed), you would pay £174.24 monthly with one final monthly payment of £175.24. The total amount payable including your deposit and a £1 option to purchase fee would be £6,523.64.
How does Hire Purchase work?
Buying a car with Admiral Hire Purchase is easier than you think.
Good to know
Remember, with Hire Purchase, you do not own the vehicle until all contractual repayments have been made. Failure to maintain payments could result in the vehicle being repossessed.
Hire Purchase is split into three steps
What is Hire Purchase?
Hire Purchase (HP) is a way to pay for a vehicle without paying the full amount at the outset. You're essentially hiring the car over the period of the contract, with the option to buy it at the end.
You would be the 'registered keeper' of the car and would be responsible for insuring and maintaining it, but Admiral would remain the legal owner until the HP agreement has been repaid in full.
“Extremely helpful and positive staff that were surprisingly engaging to help me every step of the way. Rare to see customer service this good! ”
“No drama, very easy process and money transferred same day”
“Got a much better rate than the dealership could offer plus it was paid directly to the dealer which made the purchase seamless ”
Very good offer (APR) very good customer service from the team. Was very proactive at every opportunity. Went above and beyond for me at many opportunities
The call centre times are poor. Wish it closed later and towards the end of the day I found myself on hold for about half an hour until the calling times were done.
great service thank you
says you are open on a Saturday and when phoned you are not change your website
Really quick and easy, process was so smooth
Calling through wasn’t the easiest when lines aren’t that clear but understandable with covid etc. Got cut off once.
Your questions answered
What is the maximum length term for Hire Purchase?
The maximum term length we currently offer for a hire purchase agreement is 60 months.
Is there excess mileage charges with a Hire Purchase agreement?
Unlike PCP, with hire purchase there are no excess mileage charges.
Who is the registered keeper of the car with Hire Purchase?
During the term of the agreement, you would be the 'registered keeper' of the car and be responsible for insuring and maintaining it, but Admiral would remain the legal owner until the agreement has been repaid in full.
Where can I buy my car?
We work with the majority of UK dealerships that are authorised and registered by the Financial Conduct Authority
Everything you need for HP
You'll need to fill in the below first so we can check your eligibility:
Your name and date of birth
3 years of address history
Your loan amount
Your contact details, income, outgoings and employment history
The date you want your monthly payments to leave your bank account
To complete your application you'll need:
The details of the car you're buying
Your bank details
The car dealer’s address and bank details
Admiral One, Admiral Loans and Admiral Car finance are all trading names of Admiral Financial Services Limited (AFSL). The maximum APR we offer is 29.9%. Please see our terms and conditions here.
AFSL are a member of the Finance and Leasing Association (FLA) who are an industry leader in promoting best practice within the motor finance, consumer and asset businesses in the UK. As a member we are subscribed to their Lending Code. Click here to download a copy of their Lending Code.