Used Car Finance Explained.

Your Options

At Car Deal Warehouse we can arrange any type of funding for you. From Hire Purchase to Contract Hire, Lease Purchase to PCP or some more interesting ways of buying cars. Put simply, we have all the flexibility that your bank or car dealership has.

Now if the above list of finance options meant nothing to you or you're unsure which is best for you have a look at the information below where we have tried to break down the main benefits of the different finance packages.

If after reading through the infomation here you still have any questions just give us a call or send us an email and we will be only too happy to help you.

Hire Purchase

The simplest form of finance. Make a set number of payments, pay a final purchase fee and you own the car. This is what everyone would regard as "traditional finance".

Key Features

  • You select what deposit you want to pay. The larger the deposit the smaller the payments.
  • You make regular monthly payments to cover the outstanding balance plus any interest.

    • Key Personal Benefits
  • Vehicle ownership
  • Repayments over fixed period
  • Fixed interest rates for the duration
  • Flexible deposit.

Personal Contract Purchase

Personal Contract Purchase, also known as PCP, is very similar to Hire Purchase except that an amount of money is deferred to the end of the agreement. Because you aren't paying off this deferred amount as you go the payments are significantly less.

This is quickly becoming the favoured method of finance and is recommended by Car Deal Warehouse. At the end of the contract you have three options:

  • Make the final payment and keep the vehicle.
  • Trade the vehicle back into the supplying dealer and use any excess value as deposit on new contract.
  • Simply hand vehicle back to supplying dealer without further obligation (subject to excess mileage or damage charges).