Hire Purchase (HP)
You pay a deposit and fixed monthly payments across the term. At the end, the car is yours. Payments are higher than PCP, but there is no balloon and no mileage limit.
Personal Contract Purchase (PCP)
Lower monthly payments because part of the value is deferred to an optional final payment. At the end you can pay it, hand the car back, or part-exchange the equity. Mileage limits apply and excess-mileage charges can be significant for rural drivers.
Getting the best outcome
A few simple steps materially improve your rate and total cost.
- Check your credit file before applying.
- Put part-exchange equity in as deposit to cut the amount financed.
- Compare total amount payable, not just the monthly figure.
- Set the mileage allowance honestly on PCP — Suffolk drivers usually need more than the default.
Frequently asked questions
- Can I get car finance in Suffolk with a low credit score?
- Often yes. We work with a panel of UK lenders including those who consider limited or impaired credit, subject to status and affordability.
- Can I use my current car as a deposit?
- Yes — part-exchange equity can be used as your finance deposit, and we can settle outstanding finance on your existing car.
- How quickly can finance be approved?
- Most decisions come back the same day, and cars can often be collected or delivered within 48 hours.
