Finance Options
Find out more about the different types of car finance available.
Buying a car is one of the biggest purchases that you are going to make in your entire life. Luckily, there are other options to purchase rather than just buying outright.
Whether you’re looking to pay the lowest cost to own your next car, want to keep monthly payments budget friendly or need the flexibility with the ability to hand the car back early - There is a finance option to suit you.
Car finance has three main types
Finance Features | Hire Purchase (HP) | Personal Contract Hire (PCP) | Personal Loan |
Requires initial deposit | Optional | Optional | ❌ |
Car is yours at the end of the agreement | ✔️ | Optional | ✔️ |
Fixed monthly payments | ✔️ | ✔️ | ✔️ |
Avoid (final) balloon payment | ✔️ | ❌ | ✔️ |
Avoid excess mileage charge | ✔️ | ❌ | ✔️ |
Secured against an asset (e.g. a car) | ✔️ | ✔️ | ❌ |
Support with vehicle issues | ✔️ | ✔️ | ❌ |
Can I Get Credit?
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Can I get credit
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Want to find out more about a certain Car finance types?
Hire Purchase
Personal Contract Purchase
Personal Contract Hire
