HP car finance used to be the most popular way to pay for a new car, although it’s now a lot less popular as most people have shifted to PCPs instead. However, it’s still very popular for used cars – especially for older and/or cheaper cars, or if you’re buying a car with a combination of cash and finance.
These guys call us for analysis and comment on car finance and leasing issues:
Most car finance and leasing activity in the UK is regulated by the Financial Conduct Authority, and anyone involved in the selling of car finance or brokering of leasing agreements must be accredited by the FCA.
You should always consider the terms and conditions of any agreement carefully before taking out car finance or leasing agreement, as you are making a substantial ongoing commitment and there may be significant costs if you change your mind or are unable to meet your commitments at a later date.