Hire Purchase

Spread the cost of your new car with Hire Purchase Representative 9.9% APR

Got a question? Read the FAQs

Representative example

If you borrow £9850 and pay a £500 deposit to the dealer for a car with a cash price of £10,350 over 48 months at a representative APR of 9.9% and an annual interest rate of 9.48% (fixed), you would pay 47 £247.36 monthly with one final monthly payment of £248.36. The total amount payable including your deposit and a £1 option to purchase fee would be £12,374.28.

How does Hire Purchase work?

Buying a car with Admiral Money Hire Purchase is easier than you think.

Get your dream car and choose terms that work for you

Spread the cost of your car with 12-60 monthly fixed payments.

Remember – Hire Purchase doesn’t charge you for any excess mileage.

No hassle - We’ll talk to the dealership for you

Once the finance has been agreed, provide us with the details of the car dealership – we’ll sort out the rest and make the payment directly to the dealer.

Get behind the wheel of your new car

That’s it! Drive away in your dream car. Once you’ve made your final payment which includes the option to purchase fee you'll own the car outright.

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.

Get started with Admiral Money Car Finance

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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 Money would remain the legal owner until the HP agreement has been repaid in full.

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

Other Car Finance options

Take a look at the other ways Admiral could help you buy your next car

Helpful Guides

Everything you need to know about car finance

Everything you need to know about car finance

Read more
The complete guide to PCP

The complete guide to PCP

Read more
Everything you need to know about APR

Everything you need to know about APR

Read more

Admiral One, Admiral Loans, Admiral Money 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.

Admiral Financial Services Limited (AFSL) is a registered data controller (No. ZA257412). The data controller is Admiral Financial Services Limited. You acknowledge that by providing your personal data to us, you consent to its processing in the manners outlined in our Privacy Policy. Click here to read. If you have any queries about the manner in which your data is processed, please write to: Data Protection Officer, Admiral Financial Services Limited, Tŷ Admiral, David Street, Cardiff CF10 2EH.

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