Hire Purchase
The traditional route to ownership
Hire Purchase from ŠKODA Finance keeps budgeting simple.
How Hire Purchase works
With a Hire Purchase plan from ŠKODA Finance, owning your ŠKODA is simply a matter of time. Whether you opt for a new or used vehicle, Hire Purchase is an affordable and straightforward route to vehicle ownership.
You pay a deposit (typically just 10%), agree your repayment term (from 12 - 60 months) and spread the balance equally across the term to define your monthly payments. When you have paid your final payment, you will own your ŠKODA (subject to payment of the option-to-purchase fee).
Affordability
You can manage the affordability of your agreement by increasing your initial deposit and increasing the number of months you repay the remaining balance over. This will bring down the monthly payments you make, giving you control over your monthly outgoings.
At the end of the agreement
When your Hire Purchase agreement comes to an end you have two options:
- Pay the option-to-purchase fee and keep your ŠKODA
- Part exchange the car for a new ŠKODA
Contact your local ŠKODA retailer to discuss your part exchange options. Find your local ŠKODA retailer.