Mini Hire Purchase Calculator
Calculate your Mini Hire Purchase monthly payments for Cooper, Countryman, Clubman. Get instant quotes with our free Mini HP finance calculator.
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Mini Hire Purchase Calculator
Your Mini Hire Purchase Results
Amount to be financed
£21,250.00
Monthly payment
£507.87
Term
48 months
Total Amount Paid
£28,127.87
Total interest
£3,127.87
You own the car after
48 months
About Mini Hire Purchase
Mini Hire Purchase is a straightforward way to finance your Mini.You pay a deposit and then make fixed monthly payments over an agreed term. Once all payments are complete, you automatically own the car.
Mini Financial Services offers competitive HP rates, typically ranging from 4.9% to 9.9% APR. Unlike PCP, there's no final balloon payment - you make equal monthly payments throughout the term.
Mini HP is ideal if you want to own your Mini outright and prefer predictable monthly payments. You can also settle the agreement early to save on interest charges.
Mini Hire Purchase FAQs
What is Mini Hire Purchase?
Mini Hire Purchase (HP) is a straightforward financing option where you pay a deposit and then make fixed monthly payments over an agreed term. Once all payments are complete, you automatically own the Mini.
How does Mini HP differ from PCP?
Unlike Mini PCP, Hire Purchase has no final balloon payment. You make equal monthly payments throughout the term and automatically own the car at the end. HP typically has higher monthly payments but lower total cost.
What Mini models are available on HP?
All Mini models are available on Hire Purchase including the Cooper, Countryman, Clubman. Mini also offers HP on their vehicles with competitive rates and flexible terms.
What is the typical APR for Mini HP?
Mini HP APR rates typically range from 4.9% to 9.9% depending on the model and your credit profile. Mini often offers promotional rates on selected models, sometimes as low as 0% APR.
How much deposit do I need for Mini HP?
Mini HP typically requires a minimum deposit of 10-20% of the car's value. For a £25,000 Mini, you'd typically need a £3,750-£5,000 deposit. You can put down more to reduce monthly payments.
Can I get Mini HP with bad credit?
Mini Financial Services offers HP to customers with various credit profiles. Those with excellent credit will get the best rates, but Mini will work with you to find suitable terms based on your circumstances.
Can I pay off Mini HP early?
Yes, you can settle your Mini HP agreement early. You'll receive a settlement figure that includes any outstanding balance minus interest charges. Early settlement can save you money on interest.
What happens if I miss Mini HP payments?
Missing Mini HP payments can result in late fees and may affect your credit rating. Mini Financial Services will contact you to discuss payment options. In severe cases, they may repossess the vehicle.
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