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What types of car finance deals are available?
With hire purchase** you lease the car for the term of the loan. You often need to put down a deposit, then pay a series of monthly payments. Once you have made all your payments the car is yours.
PCP** stands for personal contract purchase. With PCP you lease the car for term of the loan. Once the PCP ends you can either buy the car for one final repayment, or hand it back.
With a personal loan you borrow cash lump sum you can use for any purpose. If you buy a car using a personal loan it is yours from the outset, and your car and loan are not tied together.
We also show secured and guarantor loans, alongside car finance options available through specialist car finance brokers.
Car finance table
|Personal loan||Hire purchase||PCP|
|Do you need a deposit?||
|You own the car from the outset|
|Fixed monthly payments|
|Excess mileage charges||
Charges for excess mileage is dependent on individual lender policy.
|Wear and tear charges||
Charges for wear and tear is dependent on individual lender policy.
|Car is rented until the loan is repaid|
For PCP & HP the car is required for security and you could lose the vehicle if you don’t keep up with repaymentsCompare car finance loans