Finance

The car you want is more affordable than you think with a loan from Autoquake.

We offer two types of finance: Hire Purchase (HP) or Personal Contract Purchase (PCP). Don't worry if you're not sure what these are. The differences are explained below.

Hire Purchase (HP)

The most straightforward type of car finance. Typical APR 10.9%.

• Fixed monthly payments make budgeting easy.
• Loan periods vary from 12-60 months.
• Interest rate is fixed from day one.
• Acceptance fee payable at the start.
• Early settlement of the loan is allowed (although penalties may apply).
• Minimum loan of £1000, maximum subject to status.
• Approximately 10% deposit required.

Click here to work out how much you'll pay with our HP calculator.

Personal Contract Purchase (PCP)

A PCP allows lower monthly payments than an HP agreement, because a portion of the loan is set aside until the end of the loan agreement. Typical APR 10.9%.

• No deposit required.
• Fixed monthly payments for easy budgeting.
• Final balloon payment keeps monthly bills low.
• Provides the reassurance of a Guaranteed Future Value.
• At the end of the contract you have three choices:
1. Take ownership by making the final payment.
2. Hand the car back with nothing more to pay.
3. If the car is worth more than the GFV, use this equity as a deposit for a new model.
• Loan periods vary from 12-42 months.
• Interest rate is fixed from day one.
• Acceptance fee payable at start.
• Early settlement is allowed.
• Minimum loan of £1000, subject to status.

Which type of finance is right for you?

Choose Hire Purchase if...

• You want to keep the total payable as low as possible while still owning the car at the end of the loan.
• You have cash to put down as a deposit.
• You plan to keep the car beyond the end of the loan agreement.

Choose a Personal Contract Purchase if...

• You want to keep monthly payments as low as possible.
• You want to know in advance how much your car is worth at the end of the loan.
• You'd prefer not to pay a deposit.