Financing Your Vehicle

A1 Car Search is licensed to carry out Credit Brokerage by the FCA. License Number 665185.

We provide finance for both new and used cars, light commercial vehicles (LCVs) as well as leisure vehicles like caravans and motorhomes.

We have a range of finance options available to you, depending on your budget and what you want out of your vehicle. Our handy comparison table below should help you understand the differences.

Please call us for a written quotation on any finance deal or if you have a budget in mind but not sure what vehicle this may get you please call 01444620620.

 

 

Conditional Sale

With conditional sale, you put down a deposit and borrow the remaining cost of the vehicle, paying it back monthly over the term of the agreement. Choose this option if you want to own the vehicle at the end of the agreement.

The amount you borrow is secured against the vehicle. Repayments are fixed throughout the agreement and spread equally throughout the term, which can be up to five years (60 months). There is no lump sum to repay at the end of the agreement, unless an optional balloon repayment is set. There are some restrictions on which vehicles can have a balloon repayment; where this is allowed, it is payable at the end of the agreed term.

Under the terms of a conditional sale agreement, you have an obligation to pay the title transfer fee and then you become the legal owner of the vehicle.

 

Personal Contract Purchase (PCP)

 

Like conditional sale and hire purchase, with personal contract purchase (PCP), you pay a deposit and then the remaining amount borrowed is split into monthly instalments. PCP is great if you want to change or upgrade your car or motorcycle* at the end of the agreement.

With PCP, we guarantee the minimum the vehicle will be worth at the end of your agreement based on the agreed annual mileage and maintenance of the vehicle (any excess mileage and/or damage may incur additional charges). This value is known as the ‘Guaranteed Minimum Future Value’ and by deferring this amount to the end of the term, you could benefit from lower fixed monthly payments compared to our HP and CS products.

The finance is secured against the vehicle. Repayments are fixed throughout the agreement and spread equally throughout the term, which can be up to four years (48 months).

At the end of the agreement, you’ll have three options:
Part-exchange it – use any value left in your vehicle to part-exchange it for a new one
Buy it – pay off the final payment (Guaranteed Minimum Future Value plus the Option to Purchase Fee (OTP) in one lump sum and become the legal owner
Hand it back – simply hand back the vehicle and the keys, pay any charges incurred, and walk away