Hire Purchase
When considering vehicle finance, be it for personal or business use, it is important to take account of the different finance options available and choose the finance product best suited to your particular personal needs.
Hire Purchase
Under a Hire Purchase contract, you select the car of your choice, which is then purchased, on your behalf by Toyota Finance*. The Hire Purchase agreement consists of fixed monthly installments over a chosen term of 3 to 5 years. The monthly installment payable will take account of any deposit you may wish to pay or trade- in value in your existing vehicle. On completion of the agreement, you can then get outright ownership of the vehicle by paying the nominal purchase installment amount. (€63.49).
Hire purchase is a simple straightforward method of funding your new Toyota car from Tom Hogan Motors.
In addition to standard Hire Purchase funding, Tom Hogan Motors have now introduced the 'Easypay 'option. This is a Hire Purchase agreement with a difference. During the initial term of the agreement, which is generally 3 years, fixed affordable monthly installments are payable. On completion of the initial term, there is then a final payment due which will have been agreed with you in advance and which will reflect the assumed value of your car at the end of the 3-year term. At this stage you have the following options:
- Keep the car and pay the final installment
- Keep the car and refinance the final installment over 2/3 years.
- Trade in the car and use any equity towards another new Toyota using the 'Easypay ' funding plan.
*Toyota Finance is a trading name of Bank of Ireland Finance.
Lending criteria, terms and conditions apply
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