Yes, you can end a
Hire Purchase (HP) agreement
early, and there are two main ways to do this: Return the car.
Pay a fee, usually between £100 and £200, to settle the contract ahead of time. You can terminate the deal without penalty if you’ve paid more than half (50%) of the total loan amount. However, if you haven’t reached this threshold, you’ll need to cover the difference before returning the vehicle. Be mindful of your car’s condition too. If it's not well maintained, you may face repair charges, which could prevent a smooth return or refund. Finally, most lenders won’t allow you to return the car early during the initial stages of the contract.