If you never take your car outside you'll be fine
After returning my hire-purchase after 4 years and forking out over £17000 in payments (356pm x 48mths) I've been stung with a £2,600 repair bill.
You might be inclined to think that for that sum of money, the repairs would be extensive, with my car strewn with dented panels, missing trim and damaged interior. Not the case, minor small scratches which are part and parcel of driving and using a car for 4 years. Just to be clear these were all deemed to be outside of the BVRLA's Fair Wear and Tear guide (a trade body that Hyundai Finance and other leasing companies help fund so absolutely not a sniff of conflict of interest whatsoever).
This standard, which will be throughly inspected at the end of your hire, is non-negotiable. A 16mm scratch is a 16mm scratch, my issue is the standard is far too strict. This level of inspection is what you would expect a car rolling of a production line to be held to, not a car you've driven for 40,000 miles. What's most frustrating is these over-inflated repair costs won't even be spent, these repairs won't happen. The car will be auctioned and enter the used car ecosystem. Nor does £2,600 represent the loss of value for the car a nominal figure that seeps its way into the ether of the profit and loss account.
Just to be clear, the customer service agents I've dealt with have all been exemplary. Their professional tone and assistance is really refreshing, which is why this is not a 1star review; that extra star is for you folks.
Like Frank Sinatra I have a few regrets, but none more so that sitting in that spotless showroom, looking at the sparkly new car with its new car smell, as the overbearing sales agent who's wearing enough Hugo Boss cologne to stop a herd of bison in its tracks leans over me and shows me where to sign. I wish I never signed the lease agreement, if I didn't I'd be a lot better off.
This company has a very lucrative contracting product which it is very easily able to uphold, to the detriment of your savings accounts. So my recommendation is don't hire purchase the car, it isn't worth it. If you're planning to keep the car in a temperature controlled vacuum for 4 years then maybe sign the agreement, but if not get the bus and go home.
