In a hire purchase or consumer hire agreement both the seller and the car finance company are jointly liable to the hirer for the conditions of sale. Arranging Car Finance Most of us avail of some form of credit to finance the purchase of a new car. Shop around for the best value. In general the lower the APR the better the deal for the consumer. Compare like with like - a three year loan with a three year loan.
Most garages offer finance packages.
As credit intermediaries they must hold an authorisation issued by the Director of Consumer Affairs. This should also clearly state who has the ownership of the goods during the agreement. Establish what type of agreement you are entering into and take time to read the contract carefully to see what your rights and obligations are. If necessary seek independent financial advice. Do not confuse a hire purchase agreement with a consumer-hire agreement.