Finance Products

What options are available?

Car Finance Options

Find out more about the different types of car finance available.

Buying a car is one of the biggest purchases that you are going to make in your entire life. Luckily, there are other options to purchase rather than just buying outright.

Whether you’re looking to pay the lowest cost to own your next car, want to keep monthly payments budget friendly or need the flexibility with the ability to hand the car back early - There is a finance option to suit you.

Car finance has three main types

  • Hire purchase (HP)
  • Personal contract purchase (PCP)
  • Personal loan

What is the difference between the main three finance options?​

Finance Features

Hire Purchase (HP)

Personal Contract Hire (PCP)

Personal Loan

Requires initial deposit

Optional

Optional

Car is yours at the end of the agreement

✔️

Optional

✔️

Fixed monthly payments

✔️

✔️

✔️

Avoid (final) balloon payment

✔️

✔️

Avoid excess mileage charge

✔️

✔️

Secured against an asset (e.g. a car)

✔️

✔️

Support with vehicle issues

✔️

✔️

Want to find out more about a certain Car finance types ?


Hire Purchase (HP)Personal Contract Purchase (PCP)Personal Lease (PCH)



Apply for Finance with Swansway Group

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Want to find out more about a certain Car finance types ?