Once their application has been accepted, the customer pays all, or part, of their allowance to Motability for the duration of the contract hire or hire purchase
To buy on hire purchase
, the agreement has to run for at least two years if you buy a used car, or four years if you go for a new one.
With hire purchase
you typically pay a deposit and then pay regular monthly payments.
Another alternative is a personal contract hire scheme, similar to a hire purchase
The group, which offers unsecured loans and runs hire purchase
schemes, stopped lending to around 36,000 customers after using the new system to analyse their credit quality.
Leganza and Matiz models are offered on 0% hire purchase
with 50% deposit and balance payable over 12 months.
Motability also offers a Hire Purchase
Scheme for powered wheelchairs and scooters.
MHS, which has branches in Tamworth and Northampton, will use the cash injection to increase its hire purchase
facilities from pounds 25 million to pounds 45 million over the next three years and boost turnover to pounds 25 million.
As well as a new special edition MX-5 Icon in red, white or blue, the MX-5 soft-top is offered with 0 per cent hire purchase
(up to three years with 50 per cent deposit) or 4.
Motability customers agree to pay all, or part of their Mobility Allowance - either Disability Living Allowance or War Pensioners' Motability Supplement - depending on their choice of vehicle, for the duration of their contract hire or hire purchase