I have just bought a new car on hire purchase as I got help with the deposit and it worked out cheaper than paying actual cash which I have in the bank.
Should I call the finance company to pay off the full amount before the first payment is due or should I wait until the first payment by direct debit it taken then make an extra payment of £1 less than the amount due to avoid any penalties for settling the HP early.?
Or is there a better way of doing this to avoid paying interest and any penalties?