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:

    • 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.
    • You won't own the vehicle until the final payment (including interest) has been made.
    • If you do not keep up repayments, there's a chance your vehicle may be repossessed.
    • No mileage restrictions.
    • You need fully comprehensive insurance at all times – that's because the vehicle belongs to Black Horse for the duration of the agreement and it's part of our terms and conditions while you're driving it.
    • A personal guarantee may be required.


  • 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.