Finance
Finance That Fits Your Budget
Discover a finance plan tailored to suit your needs and drive away with complete confidence.
At Spare Motors Ltd, we understand that purchasing a car is a big decision, and having the right finance in place can make all the difference. That’s why we offer flexible, competitive finance options to help make your purchase more affordable. Whether you’re buying your first car or upgrading to something newer, we’ll support you every step of the way with honest advice and tailored finance packages. We work closely with trusted finance providers to ensure a smooth, stress-free experience from start to finish.
Car Finance Explained
There are three main types of finance deals that you might want to consider:
Hire Purchase
Hire Purchase (HP) is a popular finance option at Spare Motors Ltd, perfect for customers who prefer to spread the cost of their vehicle over time. You’ll start with an initial deposit, followed by fixed monthly payments across a term that suits you. The agreement is secured against the car, and once the final payment is made, ownership is transferred to you. It’s a simple and manageable way to finance your next car without needing to pay the full amount upfront.
Personal Contract Purchase (PCP)
This is a great option for those who enjoy changing their car every few years but prefer to avoid paying a large upfront sum each time. Typically, you’ll pay a deposit followed by fixed monthly payments. At the end of the agreed term — for example, three years — you’ll have the flexibility to either pay the remaining balance to keep the vehicle, return it with nothing more to pay (subject to terms), or put any remaining value towards a deal on your next car.
Personal Leasing (Contract Hire)
Contract Hire agreements are quite similar to PCP deals, with one key difference — you won’t have the option to purchase the vehicle at the end of the term. It’s a great choice if you prefer to drive a new car every few years without the commitment of ownership. Whatever your credit history, we’re here to help find the right finance solution for you. Simply get in touch with a member of our friendly team to explore your options.