There are lots of decisions to be made when buying a car.


Hire Purchase

This is a simple and popular option. It involves you hiring a vehicle from a finance company for an agreed time period.

The lender can repossess the car if you miss payments. But after you've made the final payment, the vehicle is yours. You own it outright.

In short: Higher payments. You can own the car after a final payment.

More about HP

Personal Contract Purchase

Similar to HP, PCP differs in the following ways. You pay only the depreciation of the value of the vehicle. Not its full value. So the monthly payments will be lower. But, at the end of the agreement, if you would like to own the vehicle, you’ll have to pay a lump sum.

The lender can repossess the car if you miss payments.

In short: Lower payments. You can change cars more often without the hassle. A lump sum is needed to secure ownership.

More about PCP

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Why we suggest lenders

At CarMoney we will collect some very basic personal details so that we can conduct a soft credit search. This type of search leaves no mark on your credit record visible to lenders. It is however enough information to help show you a panel of lenders and rates ranked by the likelihood of you being accepted for credit. This in turn helps give you the most transparent way of making a decision.

Lenders we recommend are a selection of the key lenders in the market, this allows us to provide you with the best rate possible no matter what our credit rating is.


What are my chances of approval?

You and your credit rating

Excellent Good Fair Poor Very Poor

Your credit rating is an estimate of your ability for meet your financial commitments, this is calculated based on your credit history. It is good to keep an eye on your Credit Rating, particularly if you are looking to purchase something like a mortgage for a house or a new car. Your rating affects how trustworthy companies feel you are and the better your credit rating the better the rates you will get.

Selecting the right car

Selecting the right car

We appraise all of the car dealerships that we work with to ensure that you, the customer have the best experience possible. The dealerships we work with are expected to meet and keep, a high level of customer service when both purchasing your new car and after the sale. This means that there may be some car dealerships that we recommend against using and as such will try to find an alternative car of the same spec to the one you have found.

We compare the best deals from over 20 lenders

  • BNP Paribas
  • Alphera
  • Blue Motor Finance