What is hire purchase finance?

When you choose Hire Purchase finance with Zopa, it's secured against the car. This means we own the car until you make your final repayment and after that, it’s yours.

However, there’s no need to feel like it isn’t yours. We won’t put a limit on how many miles you can drive in your car.

It’s important to note that if you default on your finance, we can repossess and then sell the car, subject to meeting the conditions detailed in the Consumer Credit Act.

Does hire purchase finance cover all cars?

We accept most cars, as long as it’s:

• A used car

• Bought through a dealership

• No more than 10 years old

• Not a commercial vehicle

• Got no more than 120,000 miles on the clock

If you’re not sure whether your car fits our criteria, just enter the car’s registration number and we’ll check it for you.

Is there a balloon payment?

No.

A balloon payment is a lump sum you’ll pay if you want to keep the car at the end of a personal contract purchase (PCP). As this is a Hire Purchase (HP) finance, once you’ve made your final repayment the car is all yours and there’s nothing more to pay.

Who pays the dealership?

Once you’ve signed your agreement online, we’ll pay the dealership, so you’re free to hit the road. You’ll need to pay the car’s deposit and any extras to the dealership directly.