While both options are a great way to buy your new car - flexible and affordable with fixed interest rates, there are some key differences which might make your decision that bit easier.

Let’s jump in with HP (Hire Purchase). This is one of the UK’s most popular car buying solutions. Simply choose your deposit and how long you want to keep the car for and that’s it. You’ll have fixed monthly payments over the entire term of your agreement and own the car once you’ve made your payment. No hidden costs, no nonsense.

If you like to keep your car over the longer term then Hire Purchase could be a great option. You can also extend repayments up to 5 years (60 months).

Alternatively you can choose a PCP (Personal Contract Purchase). PCP is becoming increasingly popular, especially as car technology evolves and lifestyles change. Once you’ve chosen a car we’ll confirm your annual mileage, deposit and how long you want to keep the car for. We can then calculate a Guaranteed Future Value (GFV).

The GFV is then subtracted from your finance amount - this means smaller repayments and more flexibility at the end of the agreement. If you would like to keep the car, you can re-finance or settle the GFV, if you fancy a new car you can part exchange, or if you want to walk away you can hand the car back to the finance company.

And the good news is, if you cover less miles than you thought, or if your car is worth more than the GFV then you can use the difference as a deposit towards a new car. If you decide to part exchange and your car is worth less than the guaranteed future value, you’re protected. No hassle, no nonsense.

Both options are flexible to you. Convenient and easy, we’ll liaise directly with the finance provider to secure your personalised offer. Our team are available to answer any questions you have.

Our aim is to secure a suitable finance agreement for you that enables you to achieve your financial objectives. You are not obliged to accept our offer, and we do not charge a fee for our services. If you purchase a vehicle, in the majority of cases, we will receive a commission from your lender for introducing you to them which is either a fixed fee or a fixed percentage of the amount that you borrow. Different lenders pay different commissions for such introductions and any such amounts paid to us will not affect the amounts you pay under your finance agreement; however, you will be contributing towards the commission paid to us with the interest collected on your repayments. Before we propose you to a potential lender, we will inform you of the likely amount of commission we will receive and seek your consent to receive this commission. The exact amount of commission that we will receive will be confirmed prior to you signing your finance agreement. All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over. Guarantees may be required.