Hire Purchase worth just handing back?

arcon5

At 50k miles/year I do wonder whether a £16k car on a 5 year finance deal would be the way to go. At this mileague i'd expect it to be pretty run down by year 4 onwards, possibly even less depending on how it's driven

OddballJamie

Op has done 50k in two years, not 50k per year.

marlot

that sounds more like leasing than hp

iolanthe07

I have bought cars on HP in the past and never, ever, had any sort of mileage cap. The car belongs to you after you've made the last payment, so why would the HP company care how many miles you've done?

randomnut

Nope definitely no mileage limit. Made a point of confirming that when I took out the agreement due to the amount of miles I do. My understanding is as has been posted that Hire Purchase agreements do not have this as there isn't a need to calculate the final payment.