Can I make extra repayments towards my hire purchase finance?
Updated 2 months ago
Yes. If you want to pay more towards your hire purchase finance, you can, at any time. And without fees.
The easiest way to pay more is by using the Zopa app. Click your hire purchase finance, then ‘Make an extra payment’ and follow the steps. We’ll take the money through your usual Direct Debit.
Things to keep in mind
● Paying more will reduce your hire purchase finance amount, the amount of interest you pay and the cost of your monthly repayments.
● Your hire purchase finance term will stay the same.
● You’ll need to pay at least £10.
● If one of your regular repayments is going through, you’ll need to wait a few days until that’s cleared before making an extra repayment.
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