PCP car finance UK discussed

In UK, borrowers today have several different options when they want to arrange for finance in order to purchase the car of their choice.PCP car finance pic

If you wish to purchase a new or an old car, you can go for a secured loan, an unsecured loan, a lease agreement, car hire purchase or a PCP car finance option.

In UK the finance market is getting more competitive with every day and for this reason, the borrowers at a greater advantage as they get more options to choose from.

PCP car finance options in UK

Currently one of the most popular car finance options in UK is PCP car finance. PCP car finance offers much flexibility and options to borrowers. A loan like this works in such a way that you would first select a car and model that you like.

The car would then be purchased by the lender and given out to you on lease. You would have to pay a deposit at the beginning of the contract to the lender and monthly installments for the loan. The installments for PCP car finance UK are usually smaller and affordable.

You would then get the option at the end of the term to either purchase the car by paying a pre-determined amount, you can return back the car and end the contract or if you want you can return the car and take another one in its place.

There are several different options available for PCP car finance UK. There are PCP loans available for those with bad credit as well as good credit history. The options that you would have would usually be in terms of the deposit that you would pay on the car, the amount of monthly installments, the loan term and the balloon payment amount at the end of the term.

There are several lenders that provide PCP car finance UK loans like Aztec Vehicle Solution, Car Leasing UK, Contract Hiring and Leasing Company and others. Another great way to find lenders providing PCP car finance UK is by taking help of a car finance specialist website on the internet like Autotrader.

Websites like these have contacts with dozens of lenders in UK that provide all types of car finance deals. When you contact a website like Autotrader, you would be able to check the car options that are available, provide you personal details to find the PCP car finance deals in UK and then even get the quotes from the companies. You can then select any company that you are comfortable with.