Car finance and personal loans

Advice on loans & finance


Getting a cheap car is one thing, getting a good finance deal is another, but here at you can get both and save yourself even more money.

Although we offers loan & finance service at buyacar, we are happy to accept finance you have found yourself, so this information below is aimed at helping you, whatever choice you make.

Car finance and personal loans


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    HIRE PURCHASE FINANCE - HP is a traditional and straightforward way to finance a new car HP is simply a loan secured against the car There's no ...

  • Image of Personal contract purchase loans finance Personal Contract Purchase - PCP

    PERSONAL CONTRACT PURCHASE - Personal Contract Purchase(PCP) is our most popular choice for motor finance due to its flexibility, low initial deposit commitment, low monthly ...

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  • Image of Contract hire car finance Contract Hire and Leasing New Cars

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Motor car finance is available in three flavours:

  • Personal Contract Purchase (PCP)
  • Hire Purchase (HP)
  • Lease Purchase (LP)

Each type of finance has its pro's and con's in different situations. You need to know which is the right one for you. So we've put together a brief summary of when to use one type of finance versus another.

FAQ. Do I have to take finance from buyacar?

Not at all. Our prices are shown as guides to how much finance could cost. Our finance partner is just an option - you can supply your own finance, or some manufacturers have their own providers that can offer even more competitive rates. However, there will be a fee of £99 applicable if using your own lender.

For more detailed information, click on the links in the sections below.


A very popular choice for motor finance

  • Low monthly payments
  • Optional final payment for ownership of car
  • Ideal if you change your car regularly


A traditional and straightforward way to finance

  • HP is simply a loan secured against the car
  • No mileage contract
  • Ideal if you want to own the car


Ideal for the more expensive car

  • Low monthly payments and APR
  • No mileage contract
  • Refinance the Residual Value

Hopefully this information and the detailed information on the different finance types have helped you determine which finance is right for you.
If not, please feel free to ask for additional information when you call us or make an enquiry.

As you use the buyacar website, you'll find example monthly PCP figures shown alongside the cost of the vehicles. For more information on the finance options on particular vehicles, select the vehicle you are interested in and follow the finance links from the resulting pages. There you'll be able to choose different types of finance and vary your options until you determine the finance that's right for you.


Q. Can you please send me out the finance terms & conditions?

The buyacar finance service searches across multiple finance providers - so the finance terms & conditions are different for each finance supplier - however these will be provided when you have applied for finance online so they can be read before you decide to go ahead.

Q. Do the finance payments include VAT?

Yes. Finance payments include VAT in each payment - the payments are Gross figures.

Q. When do I make my first finance payment?

Your first monthly payment will be due 1 month after your car has been delivered

Q. Can I settle my finance early?

It is possible to pay off a loan early, though there's a specific mathematical formula (called Rule 78) for working out how much a customer will pay for settlement at any point during the agreement.

Basically it takes into account that you will pay more interest over the first part of the loan when the capital amount is higher and less towards the end.

It's a little complicated, but here's a link to read more - Click here to read the Wikipedia version of Rule 78

Q. What else do I need in order to complete a transaction with Buyacar using your finance provider?

Once your vehicle has arrived into dealer stock and ready for delivery, the finance provider will require good copies of the following 3 additional documents that must match the name and address on your finance agreement:

  • A copy of your UK driving licence (if this is a new style licence it must include the counterpart) or an alternative proof of address
  • Second proof of signature: Passport or debit card (copy of both sides)
  • Proof of address: A utility bill or bank statement showing your current address dated within the last 90 days (not a mobile phone bill or credit card statement)


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