Car finance describes the various financial products and services that allow individuals to buy a vehicle by spreading the cost over a set period of time, usually in the form of monthly payments. Car finance includes three types of finance options: loans, leases, and hire purchase agreements.
Car loans are basically a form of financing whereby the lender provides the borrower with a lump sum of money to purchase a vehicle. In return, the borrower repays the loan plus interest over a fixed period of time.
Car leases allow the borrower to use a vehicle for a specified period of time in exchange for regular monthly payments. At the end of the lease term, the borrower typically has the option to purchase the vehicle or return it to the leasing company.
Finally, hire purchase agreements involve the borrower making regular payments over an agreed period of time, with ownership of the vehicle transferring to the borrower once all payments have been made.
All three options have their own benefits and disadvantages.
You can choose from either Hire Purchase (HP) 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 can 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. As a car finance Manchester service, 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.
Carol St ClairAbsolutely brilliant company. Everything explained and sorted for me from start to finish. Will definitely recommend these guys. Thank you from a very happy customer 😁
idrees aliKirsty provided a fantastic service, would recommed to everyone. Happy motor finance
Matt JamesBrilliant help , very stress free experience. Highly recommend , Damien was excellent from start to finish .
Andy RyanAbsolutely outstanding service from Damian at Happy Motor Finance, start to finish 48 hours everything was explained and was an easy process. Highly recommended and cheers Damian much appreciated!
Victoria SumnerAmazing service from Leon and a new car sorted in less than a week.
Peter KilliardI could make this very very long winded but I won’t. I’ll just say that Kirsty and the team gave me the best customer service and buying experience ever. Thank you very much and I’ll be back when it’s time to upgrade.
Barry O'BrienKirsty was very patient, I don’t think I was an easy customer, I can’t remember how many cars I looked at, there was no pressure and Kirsty was extremely helpful and nothing was too much trouble, we eventually got a great deal on my ideal car, Thank you Kirsty
Jack ScoreyLeon was great! Fast responses to questions and always happy to help. Very quick process from start to finish. I would recommend this company to anyone.
Kyle DannIf I could give 6 stars I would, team member Yaz has been the most help from any finance company I’ve tried in getting a new car and helped me out massively. Top man and a top company would massively recommended.
