Finance options

You can get a range of flexible finance packages via BuyaCar, to find a deal that’s just right for you.

Mar 8, 2021

Our panel of lenders provides a range of personalised finance packages, with flexibility, low interest rates and affordable monthly payments, so you’ll be able to find the right kind of finance to suit your circumstances.

Your deposit amount can be tweaked to be larger for lower monthly payments, or lower if you don’t have the spare cash to hand – plus there’s even the possibility of finance without any deposit.

How long the agreement lasts, and any mileage limits can also be adjusted to help you find a monthly payment level that suits you. Apply for finance below or scroll down for more details on the most popular ways of spreading the cost of your next car.

You might be focused on owning your next car for the lowest overall cost, or low monthly payments might be important but with the option to buy the car at the end of the contract. You could even simply be after the lowest possible monthly payments and don't want the option to buy the car at all. Whatever your situation, there's a finance option to suit.

Watch our video guide below to get a feel for which option best suits you. And keep reading for all the details about how PCP finance, Hire Purchase and PCH leasing work.

Personal Contract Purchase (PCP)

PCP is the most popular type of car finance. It offers the opportunity for comparatively low monthly payments for new or used vehicles because you're only paying for part of the cost of the car.
At the end of the contract term, you can hand the car back with nothing more to pay - provided you're within the pre-agreed mileage limit and have kept the car in good condition. If you want to keep it, then you can refinance or make the optional final payment to buy it outright. Or you can take the option to effectively trade the car in, putting any equity - where the car is worth more than the remaining balance - towards a deposit on a new PCP agreement, reducing the monthly payments on your next car. Read more

How PCP finance works

1. Deposit & delivery
  • The larger the deposit, the lower your monthly payments
  • A zero-deposit option is often available
2. Monthly payments
  • A fixed payment is due every month for the length of the agreement
  • You only repay part of the car's cost, which keeps payments low
3. Buy / return / upgrade
  • Pay the remaining balance or refinance to keep the car
  • OR Return the car and owe nothing (provided it's in good condition and under pre-agreed mileage limit)
  • OR Trade-in for another car if there's any equity (if the car is worth more than outstanding balance)

Hire Purchase (HP)

HP agreements split the cost of a new or used car into a series of monthly payments. Once you’ve made the final payment, the car is yours. Because the payments cover the full cost of the car, they are higher than with PCP finance (where you have to make a large optional final payment if you want to take ownership). Read more

How HP finance works

1. Deposit & delivery

  • Putting down a deposit reduces the amount owed, shrinking monthly payments. Zero-deposit options may be available

2. Monthly payments

  • Pay for the rest of the car with a series of fixed monthly payments

3. You own the car

  • Once the final monthly payment is made, the car is automatically yours

Leasing (PCH)

Leasing can offer one of the cheapest ways into driving a brand new car, because it works like a long-term form of car rental.

After an initial payment, you make a series of fixed monthly payments. At the end, you simply hand the car back, typically with no option to buy the car. Read more

How car leasing works

1. Initial payment

  • Initial payment is usually the equivalent of 3 to 12 monthly payments

2. Monthly payments

  • Fixed monthly payments run for the length of the agreement

3. Return the car

  • Once all the payments are made, you have to return the car


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