APR (Annual Percentage Rate) is the total yearly cost of borrowing, shown as a percentage. It includes the interest rate plus certain fees, so it’s the best like-for-like way to compare car finance quotes.
It’s the APR that at least 51% of customers are expected to get for a specific advertised deal. Your personal APR may be higher or lower depending on your credit profile and the lender’s assessment.
The interest rate is the raw cost of borrowing. APR includes the interest rate and eligible fees, so APR is usually higher and more realistic for comparison.
With HP, you pay a deposit (optional), then fixed monthly payments. There’s usually a small option-to-purchase fee at the end. Once you make all payments, you own the car. (No balloon payment.)
PCP (Personal Contract Purchase) has lower monthly payments because a large optional final payment (balloon) is deferred to the end. At the end you can: Pay the balloon to keep the car; Hand it back (mileage/condition charges may apply); Part-exchange (subject to lender rules and your circumstances)
A larger, final payment due at the end of a PCP (and some other) agreements, sometimes called the Guaranteed Future Value (GFV). Paying it transfers ownership to you.
The full amount you’ll pay over the agreement: deposit + monthly payments + fees + (PCP) optional final payment. Always compare deals using Total Amount Payable.
A deposit is an upfront contribution that can reduce monthly payments and total interest. We also work with lenders that may offer no-deposit car finance, subject to status and affordability.
The term is how long the agreement runs (e.g., 24–60 months). Longer terms usually mean lower monthly payments but more total interest.
Soft search: quick eligibility check that doesn’t affect your credit score. Hard search: full application check that can affect your score. We explain both in our Privacy/Data notices and when each happens.
Potentially, yes. Lenders look at your current situation, affordability, and credit history. Rates may be higher for poor credit car finance, but we’ll always aim for fair value and a suitable option.
Lenders assess your income and regular outgoings to check you can safely afford repayments now and in the future. This supports responsible lending.
We’re a credit broker, not a lender. The lender sets the APR and terms based on your profile and their criteria. We look for a suitable option from our panel that provides good value.
No. Our service is free to customers. If you go ahead, we may receive a commission from the lender or product provider. Ask us before you sign and we’ll disclose whether, who, how it’s calculated, and the amount/estimate. (See Commission Disclosure.)
A standardised snapshot showing a typical cash price, deposit, APR, term and monthly payment. It helps you understand what APR looks like in pounds and pence for HP or PCP.
A small fee (often £10) charged at the end of an HP agreement that transfers legal ownership to you.
On PCP, handing the car back may trigger excess mileage charges if you exceed your agreed limit, and fair wear & tear rules apply. Your agreement will set these out in detail.
You can ask the lender for a settlement figure to pay off your finance early. This may reduce interest overall. The lender will explain how they calculate it and any permitted charge.
Under the Consumer Credit Act, some HP/PCP customers may be able to end the agreement early by returning the car once 50% of the Total Amount Payable (including fees and balloon for PCP) has been paid. Conditions apply—check your contract and speak to your lender first.
Contact your lender immediately. They may offer temporary support or forbearance depending on your circumstances. Missing payments can affect your credit file and may lead to extra charges.
A person who agrees to pay if you don’t. Some lenders offer guarantor car finance; they’ll assess both of you.
When your car’s market value is less than the amount you still owe. This can happen if you change cars early or after high initial depreciation. We’ll explain options if this affects a part-exchange.
Optional extras that may provide useful protection or budgeting benefits. They’re not mandatory. We only distribute add-ons that demonstrate fair value; full price and cooling-off rights are shown before you choose.
The total benefits you receive should be proportionate to the total cost (APR, fees, add-ons). We review lender pricing, outcomes, complaints and value measures regularly to ensure fair pricing across credit tiers.
SECCI = Standard European Consumer Credit Information. It’s a pre-contract document summarising key terms and costs so you can compare deals easily before you sign.
A credit broker (that’s us) introduces you to lenders. A lender provides the finance. We do not set your APR; we help you find a suitable option and keep your journey clear and fair.
It’s where we and/or the lender first run a soft search to check eligibility without impacting your score. If you proceed to an application, the lender may perform a hard search. See our Privacy/Data notices for details.
No. We do not use commission models that link our income to raising your APR. Our remuneration is kept proportionate to the work and service we provide.
We may process identity, contact, employment, financial, vehicle and technical data to assess eligibility, place your application with lenders, and improve our service. We typically retain records for up to 7 years for legal and regulatory reasons. Your rights are set out in our Privacy Policy and Data Protection Policy.
Tell us how we can help (extra explanations, different format, preferred contact method). We’ll make reasonable adjustments and ensure your options are clearly explained.