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Starter's guide to car leasing with PCH
Is PCH (Personal Contract Hire) right for you? In this blog, Auto Trader explore how PCH works, what you’ll pay and how, how PCH and PCP compare, and answer
15 Aug 2019
Finance quiz: Which type of car finance is right for you?
Finance is an increasingly popular way to buy a car. Rather than saving for months to buy a car outright, you can split the cost over monthly payments.
15 Aug 2019
Great cars on PCP deals
The PCP – or Personal Contract Purchase – is a very popular way of buying a new car. Here are some of the best cars you can buy on a PCP deal.
03 May 2019
Bad credit car finance
If you’re looking to buy a new car, but your credit score isn’t very good, there are still potential options out there for you.
25 Jan 2019
With PCP finance, you pay an initial deposit, followed by monthly instalments, but a large portion of the loan is deferred until the end of the agreement. You can pay that final sum to own the car, hand it back or start another agreement. Learn more about PCP
With HP, you pay a deposit up front, and then pay off the rest of the balance – plus the interest - in equal monthly instalments. The car is yours at the end of the agreement.Learn more about HP
Conditional sale is very similar to Hire Purchase, but the main difference between Hire Purchase and Conditional Sale is that the customer must buy the car at the end of a Conditional Sale agreement. There is no ‘Option to Purchase’ fee payable, like there is with HP, and you will automatically become the vehicle owner once you’ve made all your repayments to the lender. Learn more
PCH is another way to finance a car. It’s technically a method of leasing a car rather than buying it. You pay a deposit and low monthly instalments, but you never own the car. Learn more about PCH
Auto Trader is a credit broker. This means we don’t offer finance ourselves, but we can introduce you to other companies that can arrange finance for you.
We show two types of finance on our adverts; Personal Contract Plans (PCP) and Hire Purchase (HP). Some sellers offer both types of finance, some only offer one. We show the lowest monthly price option available for each vehicle - but remember, it’s important to check which type of finance meets your needs. You can take our finance quiz to find out which type of finance is right for you.
We show a monthly price on the majority of our adverts to give you an idea of what it might cost to buy that vehicle using finance. The price shown is based on a £1,000 deposit, a 36-month term, and 10,000 mileage allowance (which is set as a default) but you can change these factors to suit your needs.
APR stands for Annual Percentage Rate. It’s the amount of interest you’ll pay yearly on the money you’ve borrowed, including the various fees that apply, so that you can accurately determine and compare the overall annual cost of your agreement.
This is a pre-agreed mileage limit imposed for the duration of the agreement, designed to protect the car’s value. The size of your deposit, monthly payments and (if applicable) final payment will then be calculated based on this.
Some adverts have finance information that has been provided by the dealer selling the car. Where a dealer doesn’t advertise finance on Auto Trader, we use information from our partner, Zuto, to include a finance example for you. We do this so that no matter who is selling the car, you have the option to look at a monthly finance option.
The prices we show are not guaranteed but are indicative of what is available to the majority of customers who apply. Whether you’re approved, and on what terms, is subject to your status. Finance is available to UK residents over 18 and terms and conditions apply. If you have any questions about the finance advertised, it’s best to check with the dealer or with Zuto before you apply.
For our motor finance activity we get paid in two ways, depending on who is advertising the finance. Dealers that advertise their own finance offers pay us a monthly fee to do so. For adverts where we’ve included our partner Zuto’s finance information, they pay us a commission each time a customer uses a loan approved by them to purchase a vehicle. With our leasing offering we get paid a commission each time a customer takes a lease agreement from one of our leasing providers.
Please visit our contact us page to find out ways to contact us or make a complaint.