Car Finance Options

At Fords of Winsford we love to make car buying simple. No matter what car you choose, we’ll work alongside you to find the right used car finance option for you. We have years of experience in providing tailored finance for used cars in Manchester and the north west and we look forward to helping you purchase your ideal car.

There are two main ways to get cars on finance in the UK: HP, or hire purchase agreement; and a PCP, or personal contract plan agreement − both of which we are proud to offer here at Fords of Winsford. 

What does HP car finance mean?

Hire purchase is a type of car finance plan that can be tailored to your budget. After paying a deposit for your chosen car, you then pay off the remaining balance with fixed monthly repayments over an agreed term.

This used car finance option means that once you’ve finished your repayment plan, the car is yours.

What are the pros of hire purchase car finance?


  • Our hire purchase used car finance plans give you flexible repayment terms to suit your budget
  • You only need a relatively low deposit 
  • We offer you fixed interest rates on our HP car finance plans – so you know exactly how much you’re paying each month
  • There are no mileage restrictions when you choose to finance your car with hire purchase


What are the cons of hire purchase car finance?


  • You don’t own the car until you’ve made your final payment. This means that if you are unable to make the monthly payments the car could be taken away
  • Because you don’t own the car until your final payment, you cannot sell or modify the car without permission
  • Your deposit and term length will affect how much you pay each month
  • If you’re looking for a short-term agreement, HP car finance can be expensive compared to other finance options


What does it mean if I choose a PCP used car finance plan?

A personal contract plan, or PCP, is like leasing a car. At the end of the contract, you have the choice to return the car; pay the resale value and keep it; or use the resale value towards a new car. PCP used car finance plans are still the most popular way to buy cars on finance in the UK. 

PCP used car finance differs from HP financing options because at the end of the contract if you choose to buy the car outright, you’ll have to pay a balloon payment (the outstanding amount between what you have repaid and the value of the car). 

What are the pros of buying a used car on finance with a PCP?


  • This tends to be the cheapest used car finance option as the monthly payments are usually lower than hire purchase
  • You can often get behind the wheel of a car that was previously out of your budget
  • We offer flexible PCP used car finance options – including purchasing the car outright at the end of the contract
  • A PCP deal is great if you like to change your car every few years 


What are the cons of buying a used car on finance with a PCP?


  • You never actually own the car unless you choose the balloon payment at the end of the contract
  • PCP used car finance plans come with mileage limits because the more miles a car has done, the lower its resale value
  • You’ll need to keep the car in good condition, and you might be charged extra for any repairs


Why choose Fords of Winsford for used car finance?


Here at Fords of Winsford we’ve been helping people like you find the best car finance plans in Manchester and the north west for over 60 years. 

If you’re looking to buy a car on finance, we will tailor your term, monthly payments and deposit to suit your requirements and lifestyle. And we can do this through our network of trustworthy partner lenders who are all heavily regulated by the FCA (Financial Conduct Authority), so you can trust our offerings and recommendations really are the best for you.

We give you the freedom to choose your own term between two and five years and there is no minimum deposit required in most circumstances! Most of our lenders also allow overpayments which gives you total control of how quickly you pay off your finance.

Why not search our used cars today or get in touch to find the best used car finance deals for you.


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