Car Finance

We offer three types of car finance:

1. Personal Contract Purchase (PCP) – Car finance that offers low monthly payments and an optional final payment to purchase the car.  
2. Hire Purchase (HP) – This finance covers the car’s total price plus interest. At the final payment, the vehicle is yours. 
3. Personal Contract Hire (PCH) – A type of lease agreement for a specific period. You do not own the car at the end of the contract.  

Explore the car finance types below to find the best option for you. 

PCP or Personal Contract Purchase is a popular and flexible car finance option. It’s similar to a traditional loan but typically has lower monthly payments and optional final payment or balloon payment. This final payment is calculated on the anticipated value of the vehicle at the end of the agreement. At this point, you can choose to keep the car and pay the final amount or return it to the car finance company. 

Benefits of PCP

• Low monthly costs – Monthly payments are low and protected against interest fluctuations. There’s also a choice to spread the cost over a longer term or use a larger deposit to reduce this further. 
• Flexible terms – Choose how much deposit you pay, the loan term (typically between 24 and 48 months) and the mileage for ultimate flexibility. 
• End of lease options – Decide whether you want to pay the final instalment to take ownership of the vehicle, give it back to the car finance company or trade it in – the choice is yours! 
• Regularly upgrade your car – Want to drive the latest models? Trade your car in at the end of the agreement and enjoy an upgrade every few years. 
  
• Protected from inflation and depreciation – Your monthly payment is fixed. So there’s no need to worry about external market fluctuations.
  
  

Explore Personal Contract Purchase (PCP) Finance Here

HP or Hire Purchase is a traditional loan that suits anyone looking to own a car longer than the finance agreement. Your initial deposit is deducted from the cash price. Then, the remaining is spilt over the loan term with calculated interest added. This car finance is typically split between two to five years. Once you’ve paid the final payment, the car is yours. 

Benefits of HP

• Low monthly costs – Payments are spilt equally over the agreement term and are protected against interest rate fluctuations. The more deposit you pay, the lower the monthly cost. 
• Flexible terms – Choose the deposit amount and agreement length to fit your budget. 
• No balloon payment - There is no balloon payment at the end – just a small fee and the car is yours. 
• Low credit score friendly - As this finance is secured against your car, having a low credit score doesn’t rule out owning a brand new vehicle. 
• No mileage cap – HP finance doesn’t have a mileage cap as you’re paying for the car’s total value. 
• Protected from inflation and depreciation – Monthly payments are fixed. So changes in interest rates or deprecation of the vehicle don’t affect your agreement. 

Explore HIRE PURCHASE (HP) FINANCE

PCH or Personal Contract Hire is a type of lease agreement that secures a vehicle for a specific time period and mileage limit. You pay a fixed monthly amount, but you do not own the vehicle at the end of the lease. It’s a great way to upgrade your car every few years with no ties. 

Benefits of PCH

• Drive the latest models – PCH finance gives you the option to lease the latest cars and upgrade every few years without any hassle. 
• Low monthly costs – Compared to traditional finance, PCH typically provides a lower-cost option for owning the latest models. 
• Maintenance included – Many PCH lease deals have an option to include regular servicing and maintenance to make life easier. 
• Fixed costs – Monthly costs are set for the duration of your lease agreement. So, you never have to worry about surprise charges. 
• No reselling required – Forget the hassle of trying to resell your car. Just hand it back and choose your upgrade with ease. 

Explore Personal Contract Hire

Finance companies use data to determine a customer's credit profile and rating. This information also determines the loan amount and interest rates available. If you would like to learn more about credit ratings and the factors that affect them, have a look at our credit rating page.