When it comes to purchasing a car at Lowerdale Auto, we understand that finding the right finance package to match your budget is just as vital as choosing the car itself.

Choose Between Hire Purchase or Personal Contract Purchase

We offer the choice between two finance agreements: Hire Purchase (HP) and Personal Contract Purchase (PCP), both available with no deposit. The decision between these options depends on your specific circumstances. Here's a breakdown for your clarity:

Hire Purchase (HP)

Hire Purchase agreements involve credit where you gain ownership of the vehicle after repaying the total loan amount. While the financier holds ownership during the loan term, it transfers to you upon full repayment. Typically, HP agreements have higher monthly payments as you're repaying the entire car amount, in contrast to PCP.

Personal Contract Purchase (PCP)

Personal Contract Purchase agreements entail paying installments to cover a portion of the car's cost. Upon fulfilling the agreement's terms, you can return the car to the financier (owner). Alternatively, if you wish to keep the car, you can refinance the remaining cost – the balloon payment, based on the car's guaranteed future value (GFV).