Ending a hire purchase agreement
Agreement ends normally
Pay all the monthly payments over the agreement length. You own the car when you’ve made your last monthly payment. You’ll need to pay a purchase fee of £10. It’s automatically added to your last monthly payment, so you don’t need to do anything.
Settle your agreement early
- Get a settlement amount – Log in to your online account, select ‘Your settlement details’ and follow the instructions. This amount will include any fees and charges. See our step by step guide.
- Make the payment – You have 28 days to pay before you’ll need to request a new settlement amount. The maximum amount you can pay online with a debit card in one transaction is £30,000. We don't take credit cards. You can pay using another payment method. Payments can take up to 3 days to show on your account.
- We’ll close your account – We’ll send you a completion letter 10 days after we receive the final payment. We’ll remove our financial interest in the vehicle, and it's legally yours.
Part exchange or sell your vehicle before the end of your agreement
- Get a settlement amount – Log in to your online account, select ‘Your settlement details’ and follow the instructions. This amount will include any fees, charges and the optional final payment. See our step by step guide.
- Making the payment – Once you’ve agreed with a dealer or third party that they'll settle your agreement, they must make the payment before your settlement date. You’ll need to continue making your regular payments until this is done. It can take up to 3 days to show on your account. If it's not showing yet, please check with the dealer or third party that they've made the payment.
- Your account is settled – When the payment is applied to your account, your ‘outstanding balance’ on the ‘Home’ screen of your online account will show as zero.
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