What options are available to me?*

What are my options?

Choosing the right car goes hand-in-hand with finding the right financial package too and we have a range of products to make your life easier. Our Specialist Automotive Finance expert, Nigel Wilson, is able to offer personalised funding packages (terms and conditions apply). Please see below for the finance products we offer (terms and conditions apply).


Hire Purchase or Conditional Sale (terms and conditions apply)

This may suit customers looking for a straightforward finance agreement with the option to own the car.

Hire Purchase is exactly that – a hire agreement which gives you an option to own the car at the end of the agreement. When all the repayments have been made under a Hire Purchase agreement, you then have the option to buy the car and gain outright ownership. This means paying an ‘Option to Purchase’ fee which covers the administrative cost to the finance company of transferring ownership of the car to you. If you wish to settle a Hire Purchase agreement – either partially or in full – before the end of the agreement, then you are entitled to make early repayments to your finance company.

A Conditional Sale agreement is the same as Hire Purchase, except that you will automatically own the car once the finance has been repaid in full. There is no option to purchase fee.

Please speak to our Specialist Automotive Finance expert, Nigel Wilson on 01872 300656 for more information. Terms and conditions apply.


Personal Contract Purchase (PCP)

This may suit customers who want lower monthly repayments and prefer to change cars on a regular basis.

Personal Contract Purchase (PCP), is a variation of a Hire Purchase agreement with the key difference being that the value of the car at the end of the contract is calculated at the start of the agreement and this value is deferred. This deferred sum is usually called the Guaranteed Minimum Future Value (GMFV) and is based on a number of factors including how old the car will be at the end of the agreement and how many miles it is expected to have covered. Deferring the GMFV to the end of the agreement in this way means that your regular monthly payments are generally lower than those on a comparable HP agreement over the same term.

A PCP agreement gives you the flexibility to decide whether what you would like to do at the end of the agreement (see below)


At the end of a PCP agreement you will have three options: -

1. You can either pay the guaranteed future value in full and own the car outright (subject to terms and conditions)

2. Handback the keys and walk away. (subject to terms and conditions). If you want to hand the car back but have exceeded the forecast mileage you agreed at the start of the contract, you will need to pay an excess mileage charge. (subject to terms and conditions).

3. Trade the car in by using any existing equity (if the guaranteed future value is actually lower than the current market value of the car) towards the as a deposit for a new finance agreement (subject to terms and conditions).

*Finance subject to status. Terms and conditions apply. Applicants must be 18 or over, Guarantee / Indemnity may be required. Deposit shown is higher than the minimum required. A lower deposit will increase the amount of the repayments. You will not own the vehicle until all payments are made. Blackhorse Consumer Finance, St Williams House, Tresillian Terrace, Cardiff, CF10 5BH. We can introduce you to a limited number of carefully selected finance providers. We may receive a commission from them for the introduction.