Looking to finance a car or van for yourself or in your Company Name?
We work with a wide range of lenders to provide the right finance option for you. Contact us for fast friendly advice and we’ll guide you through the process, from start to finish. Or simply complete our online application form and we’ll get to work.
The three main types of Finance we offer are Hire Purchase (HP), Personal Contract Purchase (PCP) and Lease Purchase (LP)
Hire Purchase is the most common form of car and van finance, and is available for vehicles of all ages.
You choose how much deposit to put into the agreement and finance the remainder over a set period (typically between 24 and 60 months.)
Once all payments have been made on the agreement, you will own the vehicle outright.
Why choose Hire Purchase?
PCP is a form of Hire Purchase with lower monthly payments and an Optional Balloon at the end of the term. PCP is available for cars up to 5 years old, and for some prestige and sports car up to 7 years old.
You choose how much deposit to put into the agreement and finance the remainder over a set period (typically between 24 and 48 months). At the end of the finance agreement there is a final optional balloon payment. You can choose to pay this balloon payment to keep the car, trade it in for a new one or simply hand it back to the finance company without further charges (other than excess mileage or damage charges.)
Why choose PCP?
Consider the following before choosing PCP
While your monthly payments will be lower than an equivalent hire purchase, your equity in the vehicle will be lower at the end of the term when the balloon payment is due.
Mileage restrictions apply – your PCP quotation is based on the mileage you tell us you’ll cover in the car.
At the end of the agreement, you can either pay the balloon payment to keep the vehicle or hand it back to the finance company. The finance company reserve the right to re-charge you if you have covered more mileage than you advised at the beginning, and for any damage to the vehicle that has an
effect on its value.
Lease Purchase is similar to Hire Purchase, and is available for most cars and vans.
You choose how much deposit to put into the agreement, and finance the remainder for you over a set period (typically between 24 and 48 months.) At the end of the finance agreement, there is a lump sum balloon payment that you must pay to own the car.
Why choose Lease Purchase?
Consider the following before choosing Lease Purchase
While your monthly payments will be lower than an equivalent hire purchase, your equity in the vehicle will be lower at the end of the term when the balloon payment is due.
You are still responsible for paying the final lump sum payment. To do this we can arrange a re-finance of the lump sum at the end of the term, or you can sell or part exchange the car to cover it.
You will be liable for any shortfall if the car value is less than the final balloon payment.