Articles => Hire Purchase Agreements (HP)
HP - the pros
Published on Sunday, 6th of February 2011 by Mike Roberts. This article has previously been viewed 180 times and was last read on Tuesday, 15th of May 2012 at 23:13:33.
HP, or Hire Purchase agreements are basically credit agreements enabling someone to borrow a sizeable amount of money to allow them to make a large purchase. Typically this would be used for the purchase of a car.
Most HP agreements are repayable by a fixed monthly amount over a 3 year period. The main advantages of a HP agreements are (a) it enables you to have use of the asset today, rather than having to wait to save up; (b) the monthly repayments are generally very affordable; (c) tends to be much cheaper than using a credit card.
