These days, a lot of people do not want to buy their own car outright. Unfortunately there are not many options out there for people who are in the market for a new car, and it can be difficult to find what you want at a price that is manageable. A lot of people choose to go down the route of Hire purchase. On the surface it is an easy and financially manageable way of being able to get your hands on a new car. Unfortunately, it is not always as it seems.

The first thing to remember, is that you are going to be hit with a very high initial down payment, normally about three or four thousand pounds, depending on what model you choose. Think of it htis way. If you are interested in a car which retails at about twelve thousand pounds, you will probably have a down payment of about three thousand pounds to make in the first instance. This will be followed by monthly payment of around £200 per month. This works out to about £2500 per year. After that period you will have the option of buying the car outright, from whatever is left on the balance. You will have spent £10,500 on the car, with another £1500 to pay, and at that point the car will probably only be worth about £5000! It doesn’t make much financial sense does it?

I came across a site called Autojobsvi.com which will lease a vehicle for your for a year or two, with a down payment of less than a thousand pounds! Far less taxing on the pocket, and you don’t have to worry about the resale in the future!