What is HP Finance?

Vanwise can offer a great range of flexible finance plans that cater to your needs. If you are looking to make monthly payments on a car or van with the aim to eventually own it outright, we recommend opting for a Hire Purchase (HP) finance plan.

How it works

HP finance plans require an initial deposit, followed by significant yet affordable monthly payments for a fixed term. At the end of your term, once the final payment is made the car is officially yours to own and continue using, or sell on. The length of the term will depend on the type of model you choose and the amount of money you are willing to pay each month. Usually, the duration is one to five years.


The deposit is usually around 10 percent, which is relatively low and, depending on how much they want to pay each month, drivers tend to have a lot of choice when choosing the duration of the term. Fixed monthly payments with fixed interest allow you to manage your monthly outgoings more easily.

Who this finance option is suitable for

We recommend HP to any driver who is looking to invest in a car that they can eventually sell. You can carry out an HP plan on most of our models, so whichever car or van you choose, Vanwise will endeavour to find an HP deal to match your budget requirements. We can also arrange a finance plan that includes servicing to help you save money when your car is need of an MOT or repair.

Important points

All payments must be made to fully own the car, and the car can be repossessed until you have paid off at least a third. If you decide that you have changed your mind about the vehicle, or if you require a bigger model or upgrade, we may be able to help. An HP plan can be cut short or adapted, providing that the driver is over halfway through the payments, or has paid off the majority of the vehicle’s value.

General Terms and Conditions

Make sure you understand the full terms and conditions. Each HP plan will have a slightly different specification, but overall you need to make all the payments in full.

Contact the team at Vanwise today for more information on our selection of used vans and services, or to arrange a test drive in any of our models. Give us a /contact-us/enquiry/call or enquire online and one of our finance specialists will get back to you.