Product Information | Sussex

Identify your ideal new or used vehicle

Use our finance calculator (included with our new car offers and each of our used cars) to find a deal that’s right for you – and apply for finance online

We’ll soon be in touch to confirm your next steps

What is Personal Contract Purchase (PCP)?

A Personal Contract Purchase is usually broken up into 3 sections. The first is a deposit. This is then followed by a series of fixed monthly instalments before you have the option to make a final payment (sometimes called a balloon payment) at the end in order to keep the vehicle. Consumers have the choice of returning the car, paying the final payment (which is dependent on resale value) or putting that resale value towards a new vehicle.

Will I be approved for Finance?

Provided your credit score is good, you should have no issues.

Can I get car finance even if I have bad credit?

Usually, yes. However, people with low credit scores are typically considered higher risk borrowers; this can mean stricter eligibility criteria, including higher interest rates.

What is APR?

Annual Percentage Rate (APR) represents the cost of borrowing, including admin fees and interest.

What is the difference between a soft credit search and a hard credit search?

Soft credit search – tests your eligibility for finance and doesn’t affect your credit rating
Hard credit search – used when you apply for finance. If you already have a bad credit score, it could adversely affect your overall credit rating

View Vehicles on PCP

What is Hire Purchase (HP)?

Hire Purchase is a plan where you usually pay a deposit, and then pay off the total vehicle value in monthly instalments. Once you have made your last payment, the vehicle is yours.

Will I be approved for Finance?

If you have a good credit score, there’s no reason why not.

Can I get car finance even if I have bad credit?

There’s a good chance you will but you may not be eligible for the best deals.

What is APR?

APR stands for Annual Percentage Rate and it represents the annual cost of borrowing, including fees and interest.

What is the difference between a soft credit search and a hard credit search?

A hard credit check may negatively affect your credit score if you already have a bad credit rating; a soft credit check won’t impact your credit rating.

View Vehicles on HP

Benefits

Benefits of HP
You have access to a vehicle that you might not be able to purchase outright There are no mileage considerations, which means potential excess mileage charges There's no larger, balloon payment - you pay equal monthly instalments The car is yours on

Benefits of PCP
Provides access to vehicles that you might not be able to afford to buy outright Monthly payments tend to be lower than with Hire Purchase Flexibility – decide whether to buy or return the vehicle – or start a new PCP deal (and choose a brand-new car or van)

Considerations

Things to consider (HP)
Monthly payments tend to be higher compared to PCP (this is because you’re paying off the full value of the car) Until the final instalment is paid, you don’t own the car You’ll need to keep the vehicle suitably insured and maintained until the full value is paid off

Things to consider (PCP)
To own the vehicle, you’ll need to pay the final balloon payment (which is larger than preceding instalments) – this is the vehicle’s guaranteed future value (GMFV) You’ll need to agree on a mileage allowance which, if exceeded, may result in excess mileage charges You’re responsible for insuring and maintaining the vehicle until the final instalment is paid Until all payments are made, the vehicle belongs to the financer

Things to consider (PCP)

To own the vehicle, you’ll need to pay the final balloon payment (which is larger than preceding instalments) – this is the vehicle’s guaranteed future value (GMFV)
You’ll need to agree on a mileage allowance which, if exceeded, may result in excess mileage charges
You’re responsible for insuring and maintaining the vehicle until the final instalment is paid
Until all payments are made, the vehicle belongs to the financer

Any questions? Wish to book a test drive? Please contact your local Birchwood showroom team today. Contact Us

Get in Touch

Whatever your question or feedback we are here to help. So please feel free to contact us.

Make an Enquiry

our locations

Follow Birchwood

Immerse yourself even deeper. Visit our social channels.

Company Info

Financial Disclosure

Birchwood Group are a group of companies including Azur Auto Limited, Birchwood Auto Limited and Birchwood Motor Group Limited and are authorised and regulated by the Financial Conduct Authority as Appointed Representatives of Birchwood Garages Limited (Ref No 309454) which is authorised and regulated by the Financial Conduct Authority for Insurance Mediation and consumer credit purposes.

You can check this on the FCA Register by visiting the www.fca.org.uk or by contacting the FCA direct on 0800 111 6768.

As credit broker and not a lender we will provide you with comparable details of firms most appropriate to your lending requirements based on our panel of lenders who may pay us for introducing you to them. We will make a credit recommendation after assessing your requirements.

As an Insurance Intermediary (Broker) acting on behalf of customers and not an Insurer, we do not offer insurance through this website. Please contact us directly if you wish to discuss insurance.