Product Information

ACF Car Finance works closely with a number of specialist lenders, helping customers to arrange car finance. Two possible types of car finance agreements are:

Bill Of Sale:

An assignment or transfer of title in goods to another by way of security for the payment of money. An example is where a finance company lends you money for the purchase of goods via a Credit Sale Agreement, and as security for the loan retains title in the goods until the Credit Sale Agreement is repaid in full. The actual goods remain with you unless you fall behind with payments, when the finance company can seize the goods from you and sell them.

Hire Purchase:

An agreement to purchase goods on finance. You will not be the legal owner of the goods until you've paid back all of the money you owe and the option to purchase fee. The finance company will own the goods until the final repayment and the option to purchase fee is made. The finance company can take the goods back if you don't keep up your repayments but if you've paid more than a third it would need a court order to do so.