You can also claim capital allowances against tax from the beginning of the hire purchase contract.

Hire purchase contracts are regulated by the Consumer Credit Act 1974.

(c) Obligations under finance leases and hire purchase contracts are due as follows:

Some contracts, such as hire purchase contracts and contracts for the sale and purchase of land, need to be in a special form.

In Shogun Finance Ltd v Hudson a crook obtained Mr Patel's credit details and bought a Mitsubishi Shogun on hire purchase contract at a car dealer.

In the case of hire purchase contracts, the supply of documentation including a log book or registration document, has been considered necessary (Bentworth Finance Ltd v Lubert [1968]1 QB 680).

In order to recover its losses, Royscot sued the car dealer, Maidenhead Honda Centre Ltd, alleging that the company's reliance upon the garage's innocent misrepresentation (fraud was not mentioned) induced it to enter into the hire purchase contract.

In contrast, in R & B Customs Brokers Ltd v UDT Finance Ltd [1988]1 All ER 847 a clause in a hire purchase contract purported to exclude all implied terms concerned with description, quality and fitness for purpose.

Under the CCA 1974, there is a recognition that legal rights and duties of a consumer should not necessarily turn upon whether the consumer has borrowed money to buy goods, bought them on credit, or acquired them under a hire purchase contract (ie the traditional distinction drawn between lender credit and vendor credit).

Thus the Hire Purchase Acts 1938-1965 have been almost entirely repealed by the CCA 1974, and the rights and duties of the parties involved in a hire purchase contract are similar to those of parties to a sale of goods, in which the consumer has obtained credit, whether from the seller or a third party.