Car Finance Deals
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Finance a Car
Quick Car Finance
Finance is subject to status and is only available to UK residents aged 18 and over.
Car Finance Calculator
Got a car in mind? Use the calculator to get an estimate of what your monthly payments would be. If you're not sure whether you need HP or PCP, you can learn about the different types of finance here.
Types of Car Finance
Hire Purchase (HP)
- HP lets you spread the cost of a car over time, making regular monthly payments including the interest to pay off the loan amount.
- Fixed contract length, usually between 2 and 5 years.
- No mileage restrictions as you own the car outright at the end of the agreement.
Personal Contract Purchase (PCP)
- PCP allows you to spread the cost of a car with monthly payments, typically between 2 to 6 years.
- Lower initial deposit and lower fixed monthly payments than other finance options generally.
- Flexibility to purchase the car with a final "balloon" payment, return it, or enter into a new PCP agreement at the end.
Refinance
- Refinancing is taking out a new finance agreement to pay off your current car loan and switch to a new lender.
- It could save you money with lower rates and better terms.
- You should consider any variable rates and early repayment changes when looking to change.
Car Finance FAQs
Do I need a credit check to get car finance quotes?
Yes, lenders will want to run a check on your credit profile when applying for car finance. However, you can check your eligibility with a soft credit check which won't be visible to lenders and won't impact your credit score.
If you continue with a full application, a full credit check will be conducted only upon signing the agreement, which may impact your credit profile.
What is PCP car finance?
PCP, or Personal Contract Purchase, is a flexible way to finance a car by spreading the cost over 2 to 6 years. With fixed monthly payments, you can drive the car you want without needing to pay a big chunk of money upfront.
When the agreement ends, you’ve got options: keep the car by paying the final "balloon" payment, trade it in for another car with a new PCP deal, or just return it to the lender.
What is HP car finance?
Hire Purchase (HP) is a car finance option that allows you to break down the cost of a car into manageable payments over a set period, usually between 1 and 5 years. During this time, you'll make regular fixed monthly payments, including interest, to pay off the loan.
There are no mileage restrictions on the finance deal, as at the end of the loan agreement you will own the vehicle outright.
Can you sell a car on finance?
Yes, in short, you can sell a car that has outstanding finance on it, but the finance must be settled as you sell the vehicle. The lender will provide the settlement figure that you'll need to pay off.
How does DealTree make money?
When you take out a loan or any other product via our website, we may receive a commission payment for the referral. This does not impact any offers made to you and there is no additional cost to you.
