For many people, Hire Purchase is an easy and effective way of buying a car over a length of time that best suits their budget. A Hire Purchase agreement is different to a regular car loan, because you don’t actually own the vehicle until it’s repaid.
Lease Purchase is a form of Hire Purchase available at Johnsons Cars dealerships. It offers you the security of fixed monthly rentals, as well as the flexibility of choosing to pay a lump sum at the end of your agreement to own the vehicle or return it.
Personal Contract Hire (PCH) is a form of car leasing for personal users. With PCH, you pay a monthly car lease fee to obtain a new car for an agreed length of time.
A Personal Contract Purchase (PCP) agreement is similar to a Personal Contract Hire deal. The most significant difference is that, at the end of the term, you retain the option to return the car or take full ownership of the vehicle at a pre-agreed price.