What is Car Finance?
Car finance lets you breakdown the cost of a new or used car into more manageable chunks, allowing you to pay monthly rather than in one lump sum.
There are many different types of car finance, some of which are available for both new and used cars, and some that are only applicable to new cars.
The decision about which one is best for you is largely based on whether you will be using your car for business or personal use, whether or not you would like to own the vehicle at the end of your agreement and if you are happy to limit your annual mileage.
Car search by monthly payment
Personal Contract Purchase (PCP)
Gives you the flexibility to buy the car in full, part exchange or walk away at the end of the agreement.
Hire Purchase (HP)
Pay a deposit and spread the rest of the cost the vehicle over fixed monthly payments.
Personal Contract Hire (PCH)
Also known as car leasing, Personal Contract Hire gives you a fixed cost of motoring over a set term.
Car finance without any interest to pay results in lower monthly payments.
More types of car finance
Business Contract Hire (BCH)
For businesses who are looking to lease one or more vehicles, BCH is the ideal solution.
Lease Purchase (Conditional Sale)
Also known as Conditional Sale, Lease Purchase is for those who are sure they want to own the vehicle outright.
Finance Lease is a flexible form of leasing, usually applicable only to business customers.
Balloon Hire Purchase
This type of finance defers a large portion of the cost (the balloon) to the end of the agreement.
Used Car Finance
Here we go into detail about which types of finance are applicable to used cars.
It's possible to take out a personal loan with a bank to cover the cost of a car purchase.
Protect your purchase with these insurance products.
Alternative Dispute Resolution (ADR) Process
Who regulates us?
PFIS Limited is authorised and regulated by the Financial Conduct Authority (FCA), 25 North Colonnade, Canary Wharf, London, E14 5HS. PFIS Limited’s Financial Services Register number is 312666.
You can check this on the Financial Services Register by visiting the FCA’s website or by contacting the FCA on 0800 111 6768.
What to do if you have a complaint
If you wish to register a complaint regarding the sale of either a General Insurance policy or a Consumer Credit Agreement, please contact us either in writing to:
Customer Complaints Co-ordinator, Pendragon Finance & Insurance Services Ltd, Loxley House, 2 Oakwood Court, Little Oak Drive, Annesley, Nottingham, NG15 0DR or by telephoning 03333 239 255.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.