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Finance Explained

If you’ve already found the car you want and are now looking for finance, it’s important to choose the type that’s right for you. We offer a range of options which can be tailored to suit the way you want to pay. NovaCars are here to help you make the right choice for finance and will be pleased to discuss the options with you. We deal with a number of finance houses who may be able to help you regardless of your financeial circumstance

Your Options

Hire Purchase - HP

This is the traditional method of financing the purchase of your car. Typically the cost of buying your car will be spread over a period of 2 to 5 years. After paying a deposit, you will pay monthly installments over the period of the loan and at the end of the agreement the vehicle is yours to keep. There is nothing further to pay although Hire Purchase agreements are available with a balloon payment at the end.

Personal Contract Purchase - PCP

This is more like a long-term rental, as you make fixed monthly payments to use the car until the contract expires. The payments tend to be lower than with other types of car finance, but there’s a mileage restriction. You have the option of buying the car at the end of the contract period by paying the optional ballon payment but you can just hand the car back. As the agreement is mileage restricted, if you have exceeded the stated mileage there may be an excess payment to make.

Our Finance Partners

We work with a numbr of finance partners including Santander Consumer Finance and Close Brothers to find the best deal for you. We are usually able to find finance in most circumstances including high value vehicles, poor credit history and negative equity.

Speak to us on 01952 813388 to see how we can help you.