Putting customers first

Unity Facilities Ltd are able to provide motor vehicle finance to suitable customers by way of regulated hire purchase agreements. If you have any questions in relation to this product, please contact us. In addition, we have provided the following information for your assistance.

Hire Purchase

Under a HP (hire purchase) agreement you usually (but not always) pay a deposit at the outset at the start of the agreement. You then pay the rest of the value of the car in instalments, over a period of between 3 and 5 years. You hire the vehicle until you make your final payment, after which you own it.

HP agreements are usually for a fixed monthly cost, meaning that the APR (Annual Percentage Rate) is set before the contract begins. The finance agreement is secured against the vehicle and this provides the lender with some flexibility regarding the terms they can offer.

The amount you wish to borrow is based on the value of the vehicle you want, minus any deposit you are able to provide. A deposit can be in the form of cash or a part exchange vehicle.

At the end of the agreement

Once all of the monthly payments have been made, you then have the choice whether or not to pay the final ‘option to purchase fee’. Paying this fee means that you become owner of the vehicle.

You also have options to settle the finance agreement part way through the term of the agreement, your finance provider can give you specific details at any time.

Benefits of hire purchase

● A simple way to finance a vehicle purchase.
● Flexible deposit options at the start.
● A choice of agreement length based on your own financial circumstances.
● Fixed monthly repayments.

Things to consider

● The finance company own the vehicle until you pay the ‘option to purchase’ fee at the end of the agreement - this means that you can’t modify or sell the vehicle during the lifetime of the agreement.

© Copyright 2016 Unity Facilities Ltd
Registered address: Unity House, Bird Hall Lane, Hercules Park,
Stockport, England, SK3 0UX, GB

Tel: 0844 846 0365 | Fax: 0844 880 8293

Email: enquiries@unityfl.com.
Business hours are:

Local Time is (GMT)

Unity Facilities Ltd is authorised and regulated by the Financial Conduct Authority (Firm reference number - 630103)

Unity Facilities Ltd is a company registered in England & Wales with a company number 04308759, our VAT registration number is 322 3523 42.

If you would like to know how we handle complaints, please ask for a copy of our complaints handling procedure, or click here. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at www.financial-ombudsman.org.uk.