What is Hire Purchase?

Hire Purchase is our most simple and straightforward plan and is available to both personal and business customers. 

How does Hire Purchase work?

Before your agreement can begin, you have three simple decisions to make:

What vehicle would you like?

Visit your local Retailer or explore our range of vehicles online

How much would you like to pay as a deposit?

There is no minimum required unless the vehicle is being used for taxi purposes^

What contract term best suits you?

Choose a term between 12 and 60 months

Once you have made these decisions, we will then calculate a monthly repayment amount. 

Hire Purchase Product Information Guide

What happens once your agreement has started?

You pay back your monthly payments over the period you agreed at the start of your agreement.

 To keep enjoying your vehicle, you need to keep up to date with your monthly repayments. Failure to do so can impact your credit rating and result with the vehicle being repossessed. If you are experiencing any money struggles, please contact us as soon as possible on: 0800 912 3558 so we can discuss what options may be available.

 If you want to end your agreement early, you can request a settlement quote. How far into your agreement you are will affect the amount left to pay. 

When your agreement comes to and, you have two options:

1. You can pay a one-off option to purchase fee of £10 and become the proud owner.

2. You can part exchange your vehicle for another vehicle.


No mileage restrictions

As you own the vehicle at the end of the agreement, there is no limit on how many miles you can drive each year.

Payment option

You don't need to pay a deposit if you don't want to. However, if you choose not to you are likely to pay more in interest charges.

Agreement suitable for you

You can choose how long your agreement lasts to suit your budget.

If Hire Purchase is the right product for you, you now need to find the perfect vehicle!

At Volkswagen Financial Services we work with all the brands of the Volkswagen Group, so you can be sure to find the right vehicle from the range of brands below:

Looking to finance a used car instead? heycar feature the best used cars from selected dealers. With a wide range of models and a choice of finance options available you can say goodbye to stressful searching, heycar are there to make it easier and more enjoyable.


Terms and Conditions:

^Subject to underwriting. 25% minimum deposit applies to new and used taxis. An offer of finance depends on certain conditions. Subject to status. Available to 18s and over in the UK only, Terms and conditions apply. Volkswagen Financial Services.

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