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About our Finance

Full Finance Product Descriptions

Hire Purchase

Hire Purchase (HP) is a finance plan that allows you to spread the cost of the vehicle by making monthly payments over an agreed term. You make higher monthly payments than with a Personal Contract Purchase (PCP) as there is no optional final payment. But when you come to the end of the agreement, and you’ve made all the repayments including any interest, you’ll own the vehicle.

  • You will decide an initial deposit and term.
  • Your deposit is taken from the price of the vehicle.
  • The remaining balance plus interest is paid in equal monthly repayments over the agreed term.
  • Once you’ve made all the payments including any interest and the £10 purchase fee, you will become the owner of the vehicle.

Personal Contract Purchase

Personal Contract Purchase (PCP) is a finance plan that allows you to spread the cost of your vehicle with lower monthly repayments than a Hire Purchase (HP) product, as a large proportion of the amount you repay is deferred into an optional final repayment. You will pay more interest on a PCP agreement than an HP agreement for the same loan amount, as your balance reduces more slowly due to the optional final repayment.

  • You will decide an initial deposit, term and how many miles you’ll travel each year.
  • The monthly repayment amount and the optional final repayment amount will be calculated based on the anticipated value of the vehicle at the end of the agreement.
  • At the end of your agreement, you have three options: part exchange the vehicle (new agreements subject to status), pay the optional final repayment and own the vehicle, or return the vehicle. To avoid charges, the vehicle needs to be returned in good condition and within the permitted maximum mileage.

Personal Contract Hire

Personal Contract Hire (PCH) is a fixed-cost rental agreement which is available for a period of 2–5 years.

  • Personal Contract Hire (PCH) is designed for private individuals looking to acquire a vehicle in exchange for an affordable fixed monthly amount. Customers must be over the age of 18 and hold a valid driver's licence.
  • You will select a vehicle which is available on Personal Contract Hire and choose your annual mileage.
  • You will pay the initial rental, choosing between 1 and 12 monthly rentals. The higher the initial rental, the lower the monthly rentals will be.
  • You’ll pay regular monthly rentals over the agreed term.
  • You must return the vehicle to us at the end of your agreement as there is no ownership option. If you have not exceeded your contracted mileage and have kept your vehicle in good condition, you will have nothing further to pay.
  • Optional maintenance packages can be included in the rental cost.

Business Contract Hire

Business Contract Hire (BCH) is a fixed-cost rental agreement which is available for a period of 2–5 years.

  • Business Contract Hire (BCH) is designed for businesses looking to acquire vehicles in exchange for an affordable fixed monthly amount.
  • You will select a vehicle which is available on Business Contract Hire and choose your annual mileage.
  • You will pay the initial rental, choosing between 1 and 12 monthly rentals. The higher the initial rental, the lower the monthly rentals will be.
  • You’ll pay regular monthly rentals over the agreed term.
  • You must return the vehicle to us at the end of your agreement as there is no ownership option. If you have not exceeded your contracted mileage and have kept your vehicle in good condition, you will have nothing further to pay.
  • Optional maintenance packages can be included in the rental cost.