How does Car Finance work?

To find the car finance deal that's right for you, you'll need to know how much you want to borrow and how long you want to borrow it for the (loan term). You can also put down a deposit to reduce the total loan amount.

What types of car finance are there?

There are many types of car finance to choose from including hire purchase (HP) and personal contract purchase (PCP).

Hire Purchase With Hire Purchase, the loan is secured against the car, and you don't own it until you've reached the end of your agreement and paid the 'Option to Purchase' fee. A deposit may be needed but there would typically be no annual mileage restrictions.

Personal Contract Purchase Personal contract purchase loans are also secured against the car, but you don't automatically own the car when the loan term ends. Instead, you can choose to (1) give it back, (2) use any positive equity as a deposit in a new deal, or (3) buy the car by paying the balloon payment. Monthly payments can be lower than with HP car finance, but you may have to agree to annual mileage restrictions.

How can I apply to car finance?

In order to apply for car finance, you will need to follow these 3 simple steps:

Step 1: Complete and submit our free quote form, providing us with all needed information

Step 2: We'll perform a soft credit check, that does not affect your credit score. This helps our lenders decide on the best car finance deal for you.

Step 3: You will then get a car finance decision whether you can or cannot get deals on a vehicle.

What information do I need to provide?

We will need the following information from you:

1. Driving Licence;
2. Your employment details;
3. Your residential status;
4. Your full name;
5. Your residential address;
6. Mobile number and email address;