A Personal approach to finance

What is

Getting to grips with your ideal vehicle is easy with our help. You just need to choose how you want to pay for it. So what's the difference between Hire Purchase and Lease Purchase?

Lease Purchase allows you to keep your monthly payments lower by paying a lump sum payment, or balloon payment as it's commonly known, at the end of the agreement.

People often choose this method of payment as it allows them greater flexibility when it comes to working out what vehicle they can afford. It can also be a good way to get the latest model, whilst keeping your monthly payments low.


  • Choose the vehicle you want with your Black Horse dealer. This can be a new or used vehicle. Agree a deposit together, as well as a repayment period of between two and four years. Your final lump sum payment will then be calculated.

    At the end of the agreement, you will have three options available to you:

    • Make the final lump sum payment and become the owner of the vehicle.
    • Part-exchange the vehicle for a new one – if the part exchange doesn't cover the final payment, you need to pay the shortfall to settle the finance agreement.
    • Apply to re-finance the balloon payment, subject to status.



  • An initial deposit

    When you're starting out, you will need to agree an initial deposit. Flexible deposit options are available. 0% deposit may be available subject to status.

    Your monthly payments

    Your monthly payments will be set at a fixed interest rate.

    How long do you have to pay it?

    Terms of 2 to 4 years are available.

    When do I own the vehicle?

    Once you have made all the payments (which includes your final lump sum) you will own your vehicle outright.

    You could opt to part-exchange the vehicle, subject to settlement of your existing finance agreement, and upgrade your model. Any new finance agreements are subject to status.



  • This finance option is seen as a flexible way to finance vehicles, but it's worth considering how you'll afford the final lump sum at the end of the contract.

    Here's what else you need to think about:

    • You must be at least 18 years old and a permanent UK resident.
    • You must have fully comprehensive insurance.
    • You must have the relevant driving licence for the vehicle.
    • You'll own the vehicle outright once you've paid all your payments and not before.
    • The balloon payment is not a guaranteed future value of the vehicle, so make sure you consider this when agreeing to the final payment sum.
    • If you do not keep up repayments, there's a chance your vehicle may be repossessed.
    • No mileage restrictions.
    • Dealers typically receive commission or other benefits for introducing you to us.  If you request, they must tell you in good time before you enter into the credit agreement, the amount of any commission payable.
    • A personal guarantee may be required.
    • Details of your credit agreement will be recorded with credit reference agencies.


  • Lease Purchase is a good option as lower payments may mean you can afford a newer car than if you opted for Hire Purchase. It also gives you greater flexibility over how you pay for the vehicle of your choice.

    Greater choice for you

    Not only will you have more vehicle choice, you can also decide how you’ll pay your final lump sum.

    Get closer to the vehicle of your choice. Simply visit your local Black Horse dealership today.




See more details about the Jersey Branch


Tel: 01534 514 700

9 Broad Street
St Helier

Jersey branch

See more details about the Guernsey Branch


Tel  01481 710 411

1 Smith Street
St Peter Port

Guernsey branch

See more details about the Isle of Man branch

Isle of Man

Tel: 01624 632 900

Villiers House
2 Victoria Street
Isle of Man IM1 2LN

Isle of Man branch