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Personal Contract Purchase Car Finance

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No effect on credit score

NO DEPOSIT NEEDED

Rates from 9.9% APR. Representative APR 19.9%. Carki is a credit broker, not a lender.

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You can start searching with just a few details. We use these to find the best quotes for you.

We find you the best deals.

We look at your specific requirements & compare what’s available from our trusted suppliers.

Speak to our expert advisors.

Once you’ve selected the perfect deal for you, a member of our team will take care of the rest.

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.

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What is Personal Contract Purchase?

PCP is a type of car finance where you make regular payments towards a car over an agreed period of time, typically two to four years. At the end of the agreement, you have the option to return the car or pay the final payment to keep the car.

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Rates from 7.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.Representative example: Borrowing £6,500 over 5 years with a representative APR of 21.9%, an annual interest rate of 21.9% (Fixed) and a deposit of £0.00, the monthly payment would be £172.09 per month, with a total cost of credit of £3,825.40 and a total amount payable of £10,325.40.

We look to find the best rate from our panel of lenders based on your eligibility. We don’t charge a fee for our service, but we do earn a commission. This does not influence the interest rate you’re offered in any way. Feel free to contact ourselves for more information.

What's the benefit of PCP?

One benefit is the monthly payments on a PCP agreement are usually lower than other types of car finance because you're only paying for the depreciation of the car over the agreed period, rather than the full value of the car. However, you will have to pay interest on the loan, which can make the overall cost of the agreement higher.

Mileage & Car Condition

PCP agreements usually have mileage limits, and you may be charged extra if you exceed these limits. You'll also need to keep the car in good condition, as any damage beyond reasonable wear and tear may incur extra charges.

Why should I choose PCP?

A the end of the term you can:
1. Trade in the car for a new one: You can use any equity you may have in the car towards a new PCP agreement on a new car.

2. Keep the car by paying a final payment: This payment is usually a large lump sum, which covers the remaining value of the car. Once you make the final payment, the car is yours to keep.

3. Return the car to the dealer

What is Hire Purchase?

Hire purchase (HP) is a way of financing a car without paying the entire cost upfront.

You pay a deposit receive the car and throughout the duration of the contract you will continue to pay a monthly payment then at the end of the contract the car is completely yours.

Hire Purchase

Hire purchase (HP) is a way of financing a car without paying the entire cost upfront. At the beginning of the contract you pay a deposit, and receive the car. Throughout the duration of the contract you will continue to pay a monthly payment and at the end of the contract the car is completely yours.

Personal Contract Purchase

A personal contract purchase (PCP) is a car financing option that offers lower monthly payments than a personal loan or vehicle hire purchase. Instead of paying off the entire cost of the vehicle, you are only required to pay a fraction of it. You may find it beneficial if you like to get a new vehicle frequently.

Personal Loan

You can borrow a lump sum from a lender to pay for the car upfront and spread the payment over an agreed period of time. You’ll own the car outright from the beginning and usually won't have to pay a deposit.
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FAQs

Everything you need to know about Carki and Car Finance. Can’t find the answer you’re looking for? Please chat to our team.
What details do I need to apply?
To compare hire purchase or personal loans for vehicle finance, there are a few details we’ll need from you to find the best quotes.
These are:
Your address.
Contact details.
Your income, expenditures and employment.
How much you wish to borrow.
How long you would like to borrow for.
Can I get finance for a used car?
Yes, we can compare hire purchase agreements and personal loans for used cars.
What happens if I miss a payment?
Missing a loan repayment can have negative consequences, so ensure to speak to your loan provider if you are falling behind with repayments. It could result in the lender repossessing the vehicle.

A missed payment could harm your credit score or even result in a county court judgement against you.
What is a soft search?
A soft search enables you to see if you are eligible for a loan without leaving a mark on your credit report. It’s a useful way of finding a loan without harming your chances of being accepted.
Do I need to put down a deposit?
Most lenders do not require a deposit for you to go ahead, but don't worry if the car you choose does need one, as we will advise you straight away and you will be free to look for another car. A personal loan does not require a deposit at all. As long as you can keep up with the monthly payments, this option will help you finance a vehicle without having to pay a deposit.
Will comparing impact my credit score?
When comparing, there will be no impact on your credit score because it will only be a ‘soft search’. When applying for a loan, a credit check is carried out which could impact your credit score. When you compare with Sensible, we will only do a ‘soft search’ and won’t impact your credit score in any way.
What does APR stand for?
APR stands for Annual percentage rate and takes into account the interest and fees you’ll pay on money you borrow. When borrowing from credit cards, you can avoid paying interest if you pay your balance in full each month by the due date.
Can I sell my car if it's on finance?
If you are still paying for the car you will be unable to sell it. This is because until you have paid the finance in full, it is not legally yours. If you have paid off the car in full, you will be able to sell it if you choose to.

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Excellent service from the Carki team.
"Excellent service from the Carki team.Even when my situation wasn’t straight forward, Carki were fast and efficient in getting me the best rate for my Car Finance."
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Excellent service from Dan at Carki. I wasn’t sure I’d get a loan, but they went the extra mile to get me a great deal.
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Used this site and had approval within minutes. Quick and easy to used. Thanks
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