Our Finance Products
If you’ve already found the vehicle you want and are now looking for finance, it’s important to choose the type that’s right for you. We offer a range of options which can be tailored to suit the way you want to pay:
Personal Contract Purchase (PCP)
What is it?
Personal Contract Purchase (PCP) is a flexible form of loan where some of the cost is deferred until the end of the agreement.
You start with an initial deposit and pay fixed monthly payments for a set period. At the end of the agreement, you can choose to return the vehicle, make a final payment to own the vehicle or trade it in for a new vehicle.
Key benefits of PCP:
Low monthly payments
As some of the cost is deferred until the end of the agreement, PCP offers lower monthly payments
Flexible
Flexible end of contract options giving you the choice to own the vehicle, return the vehicle or renew with another vehicle.
Low upfront deposit
Low deposit requirements making it easier to get into your new car with less money upfront.
Personal Motor Loan (PML)
What is it?
Personal Motor Loan (PML) is a simple form of loan where the cost of the vehicle is evenly spread into fixed monthly payments, and the initial deposit and repayment period can be structured to help meet your budget.
Unlike PCP, there is no agreed mileage restrictions or deferred payment at the end of the agreement. Once all monthly payments have been made the vehicle is yours.
Key benefits of PML:
Straightforward ownership
Once all fixed monthly payments have been made, the vehicle is yours.
Simple terms
Structure the agreement to your budget with fixed monthly payments over a set period
Low upfront deposit
Low deposit requirements making it easier to get into your new car with less money upfront.
Personal Contract Hire (PCH)
What is it?
The choice favoured by most people who would prefer to use a vehicle, rather than own one. You simply choose a vehicle for an agreed period up to 48 months in exchange for a fixed monthly rental which includes Road Fund Licence.
There are no depreciation or vehicle disposal worries since you just return the vehicle at the end of the contract. Fixed price servicing and maintenance options are usually available with most contracts for an additional cost. Personal Contract Hire is the ultimate in hassle-free motoring.
Key benefits of PCH:
Fixed monthly rentals
You pay a guaranteed fixed monthly rental for the duration of the contract - subject to tax and Road Fund Licence charges
Flexible
Choose terms that suit you, including contract length and mileage limits
Maintenance options
Servicing, maintenance and repair available for an additional cost, reducing unexpected costs and simplifies vehicle care.
Are you a business customer
We offer a full range of finance products for both Personal and Business customers. Find out more about our Business Finance products here.
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