There are as host of ways to finance your new car from the more traditional HP finance to Personal Contract Purchase and Leasing. Our main provider is Santander but we have strong relationships with a range of other funders.
Initially there is a deposit amount, with the rest of the vehicle value paid in monthly installments. Once all the payments have been made you will own the vehicle outright
Personal Contract Purchase
This is similar to HP in that you will pay a deposit with monthly payments. However with PCP, the monthly installments are only paying the depreciation of the vehicle, rather than the entire value of the vehicle. At the end of the contract the option is yours to whether you wish to buy the car outright or not
LP is very similar to PCP. However, there is a fundimental difference, at the end of the contract you only have one option, and that is to buy the vehicle outright, there is no return option. This is called a balloon payment.