Finance Options

Hire Purchase

hp

You pay a deposit which would typically be a minimum of 10% of the total price of the car. The remaining balance is then split into monthly payments from 12 to 60 months. You can make overpayments or request a settlement figure directly from the funder anytime through the agreement. At the end of your term when you’ve made your final payment, the car’s all yours.

Personal Contract Purchase (P.C.P)

You pay a deposit which would typically be a minimum of 10% of the total price of the car, you then make fixed monthly payments from 18 – 48 months. Compared with hire purchase, these monthly payments will probably be lower than you think as there is deferred large lump sum, guaranteed future value (GFV,) at the end of your term where you then you have three options:

  • Trade it in and choose your next car.
  • Keep it by paying off the final payment which is equal to the guaranteed future value (GFV) and it’s all yours.
  • Hand it back to the funder, as long as it hasn’t exceeded the agreed mileage, you can simply give it back.**** Subject to our fair wear and tear terms & conditions.
PCP

Lease Purchase

LP

Lease purchase, although similar to a P.C.P agreement, is only available to business users and doesn’t have a guaranteed future value (GFV) to cover the deferred large lump sum . You pay a deposit which would typically be a minimum of 10% of the total price of the car, you then make fixed monthly payments from 18 – 48 months. Compared with hire purchase, these monthly payments will probably be lower than you think due to the deferred large lump sum at the end of your term where you have two options:

  • Trade it in and choose your next car.
  • Keep it by paying off the final payment and it’s all yours.

A fully compliant illustration can be provided upon request and all motor finance is subject to status.

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