Home
Forms Library
Hire purchase agreement template

Hire purchase agreement for a car 2025

hire purchase agreement template Preview on Page 1

See details

4 out of 5

50 votes

The document outlines the terms and conditions of a Hire Purchase-i Agreement between AmIslamic Bank Berhad and the Hirer for the acquisition of a vehicle under Shariah principles. It includes definitions, payment obligations, rights and responsibilities of both parties, late payment charges, insurance requirements, repossession rights, and dispute resolution procedures. The agreement emphasizes that the vehicle remains the property of the Owner until all payments are made and details the process for exercising an option to purchase the vehicle.

Here's how it works

01. Edit your hire purchase agreement template online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send hire purchase agreement form for motor vehicles pdf via email, link, or fax. You can also download it, export it or print it out.

How to rapidly redact Hire purchase agreement for a car online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Dochub is the best editor for updating your forms online. Adhere to this simple instruction to redact Hire purchase agreement for a car in PDF format online for free:

Register and sign in. Create a free account, set a strong password, and go through email verification to start working on your forms.
Upload a document. Click on New Document and choose the file importing option: add Hire purchase agreement for a car from your device, the cloud, or a secure link.
Make changes to the template. Use the upper and left panel tools to change Hire purchase agreement for a car. Insert and customize text, images, and fillable fields, whiteout unnecessary details, highlight the significant ones, and comment on your updates.
Get your documentation done. Send the sample to other people via email, create a link for quicker file sharing, export the template to the cloud, or save it on your device in the current version or with Audit Trail included.

Explore all the advantages of our editor today!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is hire purchase a good idea for cars?

A Hire Purchase can be a good option if you want to own the car outright and can afford the higher upfront costs and monthly payments. Be aware of risks like depreciation and fully understand the terms before signing.

Is HP on a car a good idea?

Advantages of an HP deal The main benefit over a deal is that you dont have to stump up a large balloon payment to buy the car at the end of the deal. HP can also work out cheaper than a over the lifetime of a loan because with HP youre paying off the amount borrowed more quickly.

How do hire purchase agreements work?

A hire purchase (HP) agreement is a credit agreement. You hire an item (for example, a car, laptop or television) and pay an agreed amount in monthly payments. You do not own the item until you have made the final payment.

What are the cons of a hire purchase agreement?

Cons of a Hire Purchase If your money situation changes, youll still be locked into monthly payments. Its difficult to trade your car in for a newer model during your agreement. Your car will lose value (depreciate) over the course of your agreement.