Used Car Finance

Around 85% of our customers use finance to fund their next car. At SVC Specialist Vehicles we have worked very closely with our finance partners to offer a range of used car finance benefits to our customers. The most popular ways to finance a vehicle are Hire Purchase(HP) or Personal Contract Purchase(PCP).


Hire Purchase(HP)

The vehicle is paid off by a series of monthly payments over a period; up to 5 years. At the end of the contract you own the vehicle. The monthly repayments will vary depending on the size of deposit, the period over which the amount is borrowed and the price of the vehicle. 

Hire Purchase is similar to getting a loan from a bank, when the amount is repaid over a fixed period of time with a fixed rate of interest. However, HP is a secured loan against the vehicle, unlike a bank loan which is unsecured. Therefore a secured loan has a greater borrowing limit. 


Personal Contract Purchase(PCP)

An initial payment is made, followed by a series of monthly payments. The final large payment is optional and known as a ballon payment. This is the GFV(Guaranteed Future Value). PCP allows our customers to purchase new or nearly new vehicles with lower monthly payments by deferring a large amount of the total cost of the vehicle to the end of the contract. GFV is set by the finance company and is dependant  on the vehicle and expected mileage at the end of the contract. At the end of the contract you have the option to return the vehicle to the finance company in a good condition without exceeding the annual mileage, excess mileage charges do apply. Or the customer can keep the vehicle and pay the GFV, refinance the vehicle or use the vehicle to part exchange against a new vehicle. 


If you require finance options we can provide this for you via leading finance companies which can be designed to match your needs. For individual Hire Purchase, Leasing and Keyman quotes please call us now on 01883 622 414, and we will be pleased to help. Or please fill in the enquiry form below and we will get back to you.

We are regulated by the Financial Conduct Authority and we will provide you with Choice, Access and Transparency for all of our financial products and services to ensure that we are treating you fairly.


Finance Enquiry Form