With news of the fallout from the sub-prime shake-up in our papers everyday, a personal loan or bank loan may be harder to come by than in the past. Car Loans Finance provide Hire Purchase (HP) and Personal Contract Purchase (PCP) car loans to people with an excellent, fair or bad previous credit history.

A HP (Hire Purchase) or PCP (Personal Contract Purchase) car loan provides great value while still being fairly easy to obtain. HP is a fixed cost & period loan, the customer is effectively the owner of the vehicle during the repayment period, but the actual title only passes over once the loan is repaid.

PCP car loans are a conditional sale agreement. It is a contract for the customer to purchase the vehicle over a defined term. Normally it includes full maintenance and a balloon payment at the end. Once the balloon payment has been paid the customer become the legal owner of the vehicle.