Hire Purchase for used vehicle

asiav01

Hello,

I need some advice. I found a used car on ebay which I would like to buy using HP.
1. Do you know if this can be done with any online broker? Or can it only be done if bought from a dealer?
2. Can I use the car for business purposes like car rental even if bought as a private person?

Thanks

Ebe_Scrooge

Is the seller private or a dealer ? If a dealer, then there's a chance they may offer HP terms - though tread very carefully, and do your research thoroughly.

Business use ? No problem at all, you just need to notify your insurance that the car is used for business. Doesn't usually add much ( if anything ) to the premiums, depending upon the nature of your business ( running a taxi service, for example, is a bit different to using your car to travel to client sites ).

But really, more information required in order to give more meaningful advice.

forgotmyname

I think the OP plans on hiring the vehicle out which maybe an issue for the lender.

Why buy it privately when you could probably get better value as a business?

How are you going to verify drivers indentities and take card payments?

asiav01

Hi,
I am basically thinking about buying myself a Tesla and making it pay for itself by renting it. I am aware that it's not going to be easy etc. The cheapest option to buy the car I want is getting a used one from a private person, advertised on ebay or fb. I'm just feeling the waters right now, and will check and calculate everything before making any moves.

Thanks

BrassicWoman

car rental option


https://carclub.easycar.com/

Tiger26223

Hi Everyone

Can someone please help me with a good answer I bought a car on a hire purchase agreement about 4months ago I am now thinking of paying off the outstanding finance on it as I've taken out a loan to pay it off which is around £7385.79
What my plan was is to sell it or part exchange the car for a cheaper car but then my budget wouldn't be that great and would only get me a car with a lot of miles on the clock which I think would cost me a lot of money in the long ran
Would I be better off with just staying with the finance and paying the loan back
Thanks

The_Real_Cheddar_Bob

Tiger26223 wrote: »

Hi Everyone

which is around £7385.79

Thanks

that seems more exact rather than around. troll?