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Ending a hire purchase agreement

Ending a finance agreement

Ending a hire purchase car finance agreement

To end a hire purchase deal for a car early, you need to have repaid over 50% of the loan bank to the lender. Once you have done this, you then give the vehicle back.


If you would like to end your hire purchase agreement early, but have no yet paid over half the amount owed. You will need to pay the difference before you will be able to hand the vehicle back.  


If you haven’t quite repaid 50 per cent yet, you can make up the difference in a similar manner to ending a PCP finance deal early. You won’t receive any refund if you’ve already paid back more, however.


With hire purchase agreements you also have the option to pay off the balance in full, this is called a settlement figure. This includes your remaining balance and any fees that may be due as a result of you cancelling the agreement.


Your hire purchase contract will show exactly what you will have to pay for ending the finance early.

Application process

Make an application online

Apply now or call us, one of our experienced advisors will take some basic details for our lenders to review. If approved you will be offered a credit limit for your new car.

Choose your car

Once you have your credit limit, one of our advisors will assist you in choosing your new car from our showroom – we have over 1000 vehicles available in group stock, at this stage you will be able to discuss your needs and establish the car you want.

Documents and Delivery

We will now prepare your new car for delivery and get it to you usually within 48 hours, giving you a free 12 month comprehensive warranty & 12 months MOT. Once your car arrives, if your happy you sign your finance documents.

Application Criteria

Do you meet the hire purchase car finance application criteria?

To be eligable for car finance all you need is to…

  • Be aged 18 or over
  • Hold a full UK/EU driving licence
  • Be UK resident for 3 years
  • Have a Full time, part time job, be self-employed
  • Not bankrupt

Please note: if your income is 100% benefits you must be in receipt of a high rate benefit like DLA or PIP to apply for bad credit car finance.