Reliable transportation is essential but a history of missed payments makes the search for a fresh set of wheels quite technical. Most specialist firms require at least 6 months of employment history to prove you can handle the total cost of credit which might reach £6,800 on a typical £10,000 loan. Choosing Hire Purchase helps you build equity much faster than other agreements because there is no large final balloon payment to worry about. Detailed statistics regarding typical interest costs and lender requirements are available to view at Carboom. Always verify your settlement figure before signing any new contract.