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Hire Purchase Car Info Please
Hi guys,
I was in market for a 2nd hand car and have been struggling with one for the past 2 months to get the right car at the right price.
Recently a friend mentioned to me why not go for a hire purchase car which he explained that I pay a an inital fee, then a monthly installment for 2-4 years depending on the contract and after 2 years, I can get another car?
How does this all work and do I have the choice of keeping the car upon paying off, what happened after half way point of contract and if I no longer want the car, is it cheaper for me to go for this option then buying a 2nd hand car and what other pro/cons are there?
Many Thanks
I was in market for a 2nd hand car and have been struggling with one for the past 2 months to get the right car at the right price.
Recently a friend mentioned to me why not go for a hire purchase car which he explained that I pay a an inital fee, then a monthly installment for 2-4 years depending on the contract and after 2 years, I can get another car?
How does this all work and do I have the choice of keeping the car upon paying off, what happened after half way point of contract and if I no longer want the car, is it cheaper for me to go for this option then buying a 2nd hand car and what other pro/cons are there?
Many Thanks
0
Comments
-
Whenever this question comes up my initial reaction is 'if renting a car was cheaper then surely everyone would be doing it'.
:cool:0 -
I'd rather own a used car which I can afford outright than be saddled with hefty monthly payments for years. And then never own the car at the end.0
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