Telephone: 01724 854482
Mobile: 07530 987448

Finance with Save On Used Cars

At Save On Used Cars, whatever the price of the car you’re buying we realise that getting the right finance package that suits your budget is as important as the car you’re buying.

That’s why we work hard to ensure that we have the most competitive and easy to understand finance options available. Below are some of the options available with a brief explanation, if you would like to discuss any of these options in further detail please give us a call today or use the finance enquiry button above.

Hire Purchase or Personal Contract Purchase

We offer you the choice of a Hire Purchase or Personal Contract Purchase finance agreement. Both agreements can be created for car finance deals with no deposit. Which is best for you depends on your individual circumstances. We’ll explain the main differences below to shed clarity on the matter:

Hire Purchase (HP)

Hire Purchase agreements are a type of credit where once you have paid the total loan amount, you own the vehicle. During the loan term, the financer owns the vehicle. Once you repay them in full, ownership passes to you. Typically, Hire Purchase agreements have higher monthly payments because you are repaying the total car amount. With a Personal Contract Purchase, you repay only part of that amount.

Personal Contract Purchase (PCP)

Personal Contract Purchase agreements are a type of credit where you pay off instalments to cover part of the cost of a car. Once you have paid off the amount as set out in the agreement, you hand the car back to the owner, who is the financer. Alternatively, if you want to keep the car, you can refinance the remaining cost of it. This is called the balloon payment. It is based on the guaranteed future value (GFV) of the car.

Hoptons of Epworth Limited T/A Save On Used Cars is authorised and regulated by the Financial Conduct Authority, FRN: 655099. All finance is subject to status and income. Written quotation on request. We act as a credit broker not a lender. We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. We are only able to offer finance products from these providers.

We can introduce you to a limited number of finance providers. We do not charge fees for our Consumer Credit services. We may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with them, typically either a fixed fee or a fixed percentage of the amount you borrow. The payment we receive may vary between finance providers and product types. The payment received does not impact the finance rate offered.

Please note - Retail customers using a finance broker outside our official panel of lenders, due to the fees incurred through these providers, a £225 admin fee is applied to these deals.

*It is our intention to provide a high level of service at all times. However if you have reason to make a complaint about our service you should contact Save On Used Cars at 44 Normanby Road, Scunthorpe, Lincolnshire, DN15 6AL. If we are unable to resolve your complaint satisfactorily, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS). Further information is available by calling the FOS on 0845 080 1800 or at https://www.financial-ombudsman.org.uk*