Most people who buy a new car use finance to pay for it. We work with many lenders to offer special rates and different types of finance to suit you, including Close Brothers, Barclays, Santander, Alphera and all manufacturer led finance services. So even if you have been declined elsewhere, we still may be able to help you.
The main finance options that we provide to our customers are Hire Purchase and Personal Contract Purchase, but you can also take advantage of HP Baloon, Bank Loans or Personal Contract Hire/Leasing. We’ve put together a short guide on the different types of finance here to help you decide which is right for you:
HP finance is a loan against the car. You pay an initial fixed deposit followed by your agreed monthly payments. Until you have made all payments in the duration of your loan, the finance company owns the car, although you are the registered keeper. Once you have made all payment, you are then the owner of the car.
Why would HP be good for me?
Personal Contract Purchase (PCP)
With PCP finance, you pay a monthly fee with the option, but not obligation, to buy the car at the end of the agreement for a pre-set amount, called the guaranteed minimum future value.
So at the end of the agreement you can:
Who would PCP be good for me?
Personal Contract Hire (PCH) / Leasing
With PCH finance you literally hire the car for the term of your agreement, so you won’t ever own the car. Unlike PCP there is no option to buy the car at the end.
Why would PCH be good for me?
Details of our lease deals can be found on our dedicated leasing website: www.motorsourceleasing.com
Forces Cars Direct, T/A Motor Source is authorised and regulated by the Financial Conduct Authority (672273). We act as a credit broker not a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your purchase. We will only introduce you to these lenders.