Buying a used SMART with hire purchase (HP) car finance

Smart is a German automotive brand known for its compact, urban-friendly vehicles, offering efficient and practical solutions for city driving.

At AutoMoney Motor Finance we can help you secure HP car finance on a used SMART within minutes.

What’s more we can complete your deal the same day, so you can drive home with your chosen SMART model straight away.

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Complete your details via our online form.

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

Contents

Want to know more about buying a used SMART?

If you’re considering purchasing a used SMART, here’s a detailed look at what you should know about its strengths and weaknesses:

Strengths of SMART

  1. Compact Size: Smart cars are designed with urban driving in mind. Their compact size makes them exceptionally easy to manoeuvre and park in tight city spaces, making them ideal for urban environments.
  2. Fuel Efficiency: Smart vehicles are known for their excellent fuel efficiency. The small engines and lightweight design contribute to low fuel consumption, which is cost-effective for daily commuting.
  3. Environmental Friendliness: Smart offers electric versions of their vehicles, such as the Smart EQ Fortwo, which produce zero emissions and are environmentally friendly options for city driving.
  4. Ease of Parking: The small footprint of Smart cars allows for easy parking in crowded urban areas where space is at a premium. They can fit into parking spots that larger vehicles cannot.
  5. Innovative Design: Smart cars have a distinctive and innovative design that stands out. Their unique look and compact form factor make them easily recognisable and stylish.
  6. Affordability: Smart cars are generally more affordable than many other vehicles, both in terms of purchase price and running costs. This affordability extends to the used car market, making them an attractive option for budget-conscious buyers.

Weaknesses of SMART

  1. Limited Space: The compact size of Smart cars means limited interior and cargo space. They are typically two-seaters with minimal luggage capacity, which may not be suitable for families or those needing more space.
  2. Performance: Smart cars are designed primarily for city driving, and their performance reflects this. They may lack the power and speed required for long-distance highway driving or more dynamic driving experiences.
  3. Ride Comfort: The small size and short wheelbase can result in a less comfortable ride, particularly on rough or uneven roads. Test drive the car to ensure the ride quality meets your expectations.
  4. Safety Concerns: While Smart cars are equipped with standard safety features, their small size can be a disadvantage in collisions with larger vehicles. Ensure the model you are considering has good safety ratings and features.
  5. Limited Model Range: Smart offers a limited range of models, primarily focusing on small city cars. This may restrict options for buyers looking for different body styles or features.
  6. Depreciation: Smart cars can experience significant depreciation, particularly in the first few years. While this can be beneficial for used car buyers, it's something to consider if you plan to sell the car in the future.

Tips for buying a used SMART

  • Research Specific Models: Popular models like the Smart Fortwo and Smart Forfour each have unique characteristics. Research specific model years for any common issues or recalls to ensure you make an informed decision.
  • Check Service History: Ensure the vehicle has a comprehensive service history. Regular maintenance by authorised Smart service centres is a good indicator of a well-cared-for car.
  • Inspect for Wear and Tear: Look for signs of wear and tear, especially on high-mileage models. Pay close attention to the condition of the interior, electronics, and suspension components.
  • Consider Certified Pre-Owned: Buying a dealership-certified pre-owned Smart car offers benefits like extended warranties and rigorous inspections, providing added peace of mind.
  • Evaluate Running Costs: Factor in potential running costs, including insurance, road tax, and fuel consumption, to ensure the car fits within your budget. Smarts generally have reasonable running costs, but it's important to consider maintenance expenses, especially for older models.

Overall, a used Smart car can offer a practical, efficient, and stylish solution for city driving. By doing thorough research and inspections, you can find a high-quality used Smart that meets your needs and provides lasting satisfaction.

Buying a used SMART with HP car finance

One of the ways to buy a used SMART, if you do not have enough money to pay for it in full straight away, is to use Hire Purchase car finance (HP car finance).

This is where you ‘hire’ the SMART from us, spreading the cost of the car over monthly payments to us. These payments contribute towards you ‘purchasing’ (buying) the SMART from us at the end of the term of the borrowing, when you also pay a one-off “option-to-purchase” fee.

At this point you own the SMART completely and our contract comes to an end.

The pros and cons of HP car finance

Borrowing money to buy anything comes with risks, as well as rewards.

Buying a used SMART could be the right choice for you and an ideal solution to the practical challenges of getting about day to day. However, whilst a used car can be significantly cheaper than its brand new alternative, it still involves spending a lot of money.

When you borrow money, you need to make sure you can keep up with payments comfortably. You will have other bills to pay and necessary things to buy, so you don’t want to find that the payments on your SMART are leaving you short of money each month.

There are also other considerations when buying a used car and below we share the pros and cons, to help you decide if applying for HP car finance is right for you.

The pros

  • Drive away in a SMART today: with HP car finance you can get a SMART, even if you don’t have all the money for it right now.
  • Spread the cost of owning your SMART: cars are expensive, but are often an essential part of daily life. When you buy your SMART with HP car finance, you can pay for it gradually over time.
  • Manage your finances: HP car finance comes with a clear payment plan. You can easily compare what your finances will look like each month by taking away the money your SMART will cost you, alongside your other bills and costs, from your income to make sure it is affordable for you.
  • Decide how much you can afford each month: if you find the SMART you are looking at is too expensive per month, you can look at other options, with lower monthly costs.
  • Choose a term that suits you: you can repay over 3-5 years, which will impact the monthly cost to suit your monthly finances. Borrowing for longer reduces the monthly cost, but be aware it may increase the total amount you repay.
  • Own your SMART at the end of the term: If you keep up with your monthly payments, and can afford the “option-to-purchase” fee, you will own your SMART at the end of the term of your agreement.

The cons

  • Delayed ownership: You won't own the car until the final payment is made. Missing payments could result in your SMART being repossessed.
  • Depreciation: Used cars can lose value quickly. You might end up paying more than the SMART is worth over time.
  • Higher total cost: The total amount paid, including interest and fees, will be much higher than the SMART’s purchase price.
  • Insurance requirements: Comprehensive insurance is required, which can be more costly.
  • Credit impact: Missing payments can negatively affect your credit score, making future borrowing more difficult.
  • Repossession risk: Failure to make payments can lead to the car being repossessed, possibly leaving you with outstanding debt.

Please make sure you read and understand your hire purchase agreement, maintain your car and ensure you can afford the payments before committing.

Why get HP car finance with AutoMoney Motor Finance?

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  • Complete the same day

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Ready to apply?

We hope you found the information on this page useful. If you are now ready to apply for HP car finance with us, we’d be pleased to help.

Get started with an application using our online form:

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

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