Finance options

Jan 9, 2019

Low interest rates and flexible options mean that we can offer personalised finance packages with affordable monthly instalments from our panel of lenders.

You can adjust your deposit (in some cases it's not needed), the length of the agreement, and any mileage limit to find a repayment that suits you. Apply for finance below or scroll down for more details on the most popular ways of spreading the cost of your next car.

  

Personal Contract Purchase (PCP)

The most popular type of car finance offers low monthly repayments for new or used vehicles because they don’t cover the full cost of the car. 

At the end, you can hand the car back with nothing more to pay. If you want to keep it, then you can refinance or buy it for a one-off fee. There’s often another option to trade the car in, which can cover the deposit on a new PCP agreement for another vehicle. Read more

How PCP finance works

1. Deposit & delivery
  • The larger the deposit, the lower your monthly repayments
  • A no-deposit option is often available
2. Monthly payments
  • A fixed payment is due every month for the rest of the agreement
  • You only repay part of the car's cost, keeping instalments low
3. Buy / return / upgrade
  • Pay the remaining balance or refinance to keep the car
  • OR Return the car and owe nothing
  • OR Trade-in for another vehicle if the car is worth enough

Hire Purchase (HP)

HP agreements split the cost of a new or used car into a series of monthly instalments. Once you’ve made the final payment, then the car is yours. Because the payments cover the full price, they are usually higher than on PCP finance. Read more

 How HP finance works

1. Deposit & delivery

  • A deposit reduces the amount owed and may be optional

2. Monthly payments

  • Pay for the rest of the car in fixed monthly instalments

3. You own the car

  • Once the final payment is made, the car is yours.

Leasing (PCH)

Leasing often offers the cheapest way of driving a brand new car because it’s a long-term form of car rental.

After an initial payment, you make a series of fixed monthly instalments. At the end, you hand the car back, without any guaranteed option to buy the car. Read more

How car leasing works

1. Initial payment

  • Initial payment is usually the equivalent of 3 to 12 monthly instalments

2. Monthly payments

  • Fixed monthly payments throughout the agreement

3. Return the car

  • Once all payments are made, you return the car.

   

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