Vehicle Finance

Hire Purchase

Hire purchase is one of the most straightforward forms of finance available.

• The cost of your purchase is spread from 24 to 60 months
• There are no mileage restrictions
• No minimum deposit required
• The payments are fixed and regular making it easier to budget
• At the end of the agreement you own the car

Personal Contract Purchase

Personal Contract Purchase (PCP) is a finance scheme that allows your monthly payments to be reduced, because an agreed fee is deferred until the end of the contract. Essentially, you only repay part of the value of the car over the term of the agreement. Each contract typically lasts between 24 and 48 months. You'll pay an initial deposit, followed by monthly payments at have three choices at the end of the agreement:

1. Pay the guaranteed future value (aka 'balloon payment') to own the car outright.
2. Exchange your car for a new model, and a new PCP agreement.
3. Hand the car back and walk away.

You are also able to change your car during the contract, which combined with the lower monthly payments, makes this way of purchasing a vehicle very flexible.