Compare Car Finance Options
Hire-Purchase or Conditional Sale
 | quick and easy to arrange |
| low deposits (usually from 10%) |
| flexible terms (usually from 12 to 60 months) |
| competitive fixed interest rates |
 | you do not own car until final payment |
| can be more expensive for short term agreements |
Personal Contract Purchase (PCP)
| lower monthly payments |
| low deposits (usually from 10%) |
| flexible terms (usually from 12 to 36 months) |
| choice of options at end |
| mileage and condition affects costs |
| total amount paid may be more than HP |
| have to settle deferred amount at end if you keep the car |
Personal Leasing (Personal contract hire)
| fixed cost motoring |
| no depreciation risk, no part exchange |
| very flexible terms (usually from 12 to 36 months) |
| maintenance payments push up cost |
| you cannot keep the car |
| need to find deposit (usually 3 months rentals) |
Personal loan
| can be arranged over phone or internet |
| can cover the whole value of the vehicle |
| competitive fixed interest rates |
| have to wait for funds to appear |
| may affect other borrowing |
| need good credit rating |
Mortgage top-up
| low interest rates |
| dealing with an existing lender |
| expensive over the long term |
| secured on your house |
| have to wait for funds to clear |
Credit card
| short term borrowing |
| useful for paying deposits |
| may be more expensive than other finance |
| will eat into credit limit |
