A Comprehensive Guide to Conditional Sale Finance
Conditional Sale Finance is a straightforward and popular way to finance a vehicle. If you’re looking for a car finance…
The above rates and monthly payments are an example only. The actual rate you will be offered by lenders could be lower or higher depending on your circumstances
Representative example: borrowing £6,500 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £166.07 per month, with a total cost of credit of £3,464.37 and a total amount payable of £9,964.37.
*Our lenders operate using an initial "soft search" which does not impact your credit score however, if you wish to proceed with the finance offered, the lender may carry out a "hard search" prior to sending you the finance documentation to sign.
You can choose from either Hire Purchase (HP) Finance or Personal Contract Purchase (PCP). The best type of finance depends on your personal circumstances.
In some circumstances, it can be. Provided payments are kept up with, getting finance could improve your credit score. What's more, you can start driving a new car much quicker than if you waited to save up the money.
Yes, it's possible. At Happy Motor Finance, we specialise in securing finance for people who have previously been refused in the past. Please speak to one of our team to find out more or apply and take a vehicle finance check form.
HP finance, or Hire Purchase finance, is a type of finance agreement that allows you to spread the cost of purchasing a vehicle over a period of time. It involves paying a deposit upfront, followed by monthly payments over a fixed term, typically between 1 and 5 years.
During the term of the agreement, the lender technically owns the vehicle, but you can use it as if it were your own. Once you have made all the payments, including any interest charged, you become the legal owner.
With HP finance, for instance, the interest rate is fixed at the start of the agreement, which means your monthly payments will stay the same throughout the term of the agreement. This makes budgeting easier and more predictable.
It's important to note that if you fail to keep up with the payments, the lender has the right to repossess the vehicle. So, before taking out an HP car finance agreement, or any other type of vehicle finance, it's important to ensure you can afford the monthly payments.
If you feel ready to apply for HP finance, use our vehicle finance application to establish your eligibility.
PCP finance, or Personal Contract Purchase vehicle finance, is another type of finance agreement that allows you to spread the cost of purchasing a vehicle over a period of time. It is similar to Hire Purchase (HP) finance, but with some important differences.
With PCP finance, you typically pay a deposit upfront, followed by monthly payments over a fixed term, which is usually between 2 and 4 years.
Let's say you bought a car on PCP finance, at the end of the term, you have three options:
You can return the car to the lender and walk away, with nothing more to pay (assuming you have met the agreed mileage limit and the car is in good condition).
You can choose to make a "balloon payment" to purchase the car outright. This is a large final payment that covers the remaining balance on the car.
You can use the car as a trade-in for a new car, and start a new PCP car finance agreement.
One of the advantages of PCP finance is that your monthly payments are typically lower than with HP finance, as you are only paying off a portion of the car's value over the term of the agreement. Additionally, at the end of the agreement, you have the flexibility to choose whether to keep the vehicle or return it.
However, it's important to note that if you choose to return the vehicle, you will not own it and will need to find another vehicle to use. Additionally, if you exceed the agreed mileage limit or the vehicle is in poor condition, you may be charged additional fees.
Chelcie RoweExcellent customer service. Friend, helpful and patient. Knowledgeable and reassuring. This company helped when nobody else could in regards to finance, and Leon was exemplary.
Celin RoisinKirsty has been an absolute star the entire way - even when we had to change car last minute, she had it sorted and kept me feeling confident and secure throughout the entire process! I would recommend her to anyone and whoever gets her as an advisor is so lucky!!!!
Andrew DeanReally smooth process, the guys were great from start to finish and couldn't be happier with my new car. Legends!
Dyan WalkerExcellent service. Ali was professional, attentive and extremely thorough. He explained everything clearly and was able to close the deal for me quickly. Initial contact was made on Saturday and by Monday everything was completed. 5* service.
Martin BallHello well had never brought a car this way before but was helped though the whole thing by great staff found a great car and within 24hours had a new car 5⭐ customer service
Toni SeraphinWas not expecting to be looking for another car so soon... and this was at no faulty of Happy motors... They handled the issue with my first car rapidly. Damian, Leon on the day of the bad event went above and beyond to rectify the issue and dealt with the dealership. This meant that Kirsty had to put up with me once again to find another car... and bless her understanding and patience again for dealing with me haha! I eventually found my car, and again Kirsty and happy motors were superb, quick and efficient fro. Auto trader add to the car being at my door... superb. I recommend this team to anyone and will spread their name far and wide.. and sorry to say Kirsty... I will definitely be back again without doubt or hesitation.
John Henry Oluebube MadukaI recently had the pleasure of working with Kirsty at Happy Motor Finance to secure financing for my new car, and I am beyond impressed with the service I received. From the moment we connected, Kirsty was incredibly knowledgeable, patient, and attentive to my needs. They took the time to explain all the financing options available to me, ensuring that I could make an informed decision.What stood out the most was their commitment to finding the best possible Car, rates and terms that fit my financial situation. Kristy navigated through the paperwork with ease, making the entire process smooth and stress-free. A couple of times I was feed up and wanted to give up but Kirsty reassured me that this will workout in the end. Thanks to Kirsty's expertise and dedication, I am able to drive away in my dream car with a financing plan that works for me. I highly recommend Kirsty from Happy Motor Finance to anyone looking for a reliable and supportive finance company and representative. Thank you, Kirsty, for your outstanding service! I appreciate You😊
Kane MillerThank you so much for the help and it was fast, easy and straightforward thank you Ali for the help if I could give you a 10 star I would 🌟⭐️
Hashem AhmedAs a seller, the whole process was absolutely professional and swift. Would highly recommend and definitely work with again!
Alex Timmins-JonesVery helpful and a personal touch. 99% of companies just click a button and leave you alone if rejected. Happy actually worked hard to understand my circumstances and make efforts to match. All completed in a couple of days start to finish. They obviously have a unique selection of finance companies on hand to support. Very happy with happy
