Who owns a car while a hire purchase agreement is running?
Under hire purchase, the finance provider normally retains legal ownership until the agreement's payment and ownership-transfer conditions have been met. Using the car and making instalments are not the same as holding title from the outset. Check the agreement before selling or transferring a financed vehicle, and ask the lender for the requirements if an early settlement is planned.
Read about car finance →The completed deal
CW Asset Finance arranged finance for a customer in Hillsborough, County Down for a Volkswagen Golf. The deal has paid out.
Deal at a glance
| Asset | Volkswagen Golf |
|---|---|
| Customer town | Hillsborough |
| County | County Down |
| Supplier | Reilly Motors Ltd |
| Status | Paid out |
About this example
This record describes a completed vehicle finance deal. The customer location identifies where the customer was based; it does not limit the areas CW Asset Finance covers. The vehicle is an example of an asset funded, rather than stock currently offered for sale.
Key outcome
The Volkswagen Golf finance deal completed for the customer in Hillsborough, County Down.
Every application is assessed on its own merits and all finance is subject to status and lender approval. This is one client’s outcome and is not a guide to what any other business will be offered.
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