Finance Options

Personal Contract Purchase (PCP)

At Autobay, we offer flexible financing options, including Personal Contract Purchase (PCP) agreements, to make it easier for you to drive the vehicle you want. PCP is a popular type of financing that allows you to make lower monthly payments compared to traditional hire purchase, giving you more flexibility in managing your budget.

Here's how it works: You choose a vehicle from our extensive inventory, and we help you secure a PCP agreement with one of our trusted lenders. You pay a deposit (if required), and then make monthly payments over an agreed term, typically between 12 to 48 months, based on the estimated depreciation of the vehicle during the contract period.

At the end of the contract term, you have three options:

Purchase the vehicle by paying the Optional Final Payment, also known as the "balloon payment", which was agreed upon at the start of the contract. This payment represents the Guaranteed Minimum Future Value (GMFV) of the vehicle.
Return the vehicle with no further obligation, subject to mileage and condition limits, and choose a new vehicle and start a new PCP agreement.
Trade-in the vehicle and use any equity towards a new vehicle, subject to valuation and lender approval.

PCP agreements offer greater flexibility and lower monthly payments compared to traditional hire purchase, making it an attractive option for many customers. At Autobay, we work with a variety of lenders to ensure that we can offer you the best PCP product tailored to your individual needs and financial situation.

As a responsible credit broker, Autobay is fully compliant with the regulations of the Financial Conduct Authority (FCA). We provide transparent and fair advice, and we do not charge you any fees for our services. You can trust us to provide you with reliable and compliant financing options, and we have a complaints procedure in place if you are unhappy with our service.

Choose Autobay for a flexible and convenient PCP agreement that makes owning your dream vehicle a reality. We're here to help you drive away with confidence!

Hire Purchase (HP)

At Autobay, we strive to make the process of getting a vehicle through a hire purchase agreement simple and straightforward. Hire purchase (HP) is a type of financing option that allows you to spread the cost of a vehicle over a fixed term with regular monthly payments.

Here's how it works: You choose a vehicle from our wide selection, and we help you secure a hire purchase agreement with one of our trusted lenders. You pay a deposit (if required), and the remaining cost of the vehicle is divided into equal monthly payments, typically over 12 to 60 months.

At the end of the agreed term, once you've made all the payments, you will own the vehicle outright. Unlike other types of financing, with HP, the vehicle is used as security for the loan, which means you won't own the vehicle until the final payment is made.

Autobay works with a variety of lenders to ensure that we can offer you the best finance product tailored to your individual needs and financial situation. Our goal is to make the process as smooth and convenient as possible, helping you drive away in your dream vehicle without any unnecessary hassle.

As a responsible credit broker, Autobay is fully compliant with the Financial Conduct Authority (FCA) regulations. We always act in your best interest, providing transparent and fair advice, and we do not charge you any fees for our services. You can trust us to provide you with reliable and compliant financing options, and we have a complaints procedure in place if you are unhappy with our service.

Choose Autobay for a hassle-free and transparent hire purchase vehicle agreement. We're here to help you make your vehicle ownership dreams a reality!

You can use our handy calculator to see a representative example of how your HP payments might look.

Other Options

At Autobay, we understand that every customer has unique financing needs, including businesses. That's why we offer a wide range of finance options to suit every requirement. Whether you're an individual or a business owner, our experienced sales representatives are here to help you explore the best financing solution for your specific needs.

In addition to Hire Purchase (HP) and Personal Contract Purchase (PCP), we offer other financing options such as Personal Loans, Business Loans, and Contract Hire for businesses. Our sales representatives are knowledgeable about all these options and can provide you with detailed information and guidance to help you make an informed decision.

We are committed to providing transparent and compliant financing solutions, and our team will work closely with you to ensure that you understand the terms and conditions of your chosen finance option. We will also provide you with a clear breakdown of costs, including interest rates, fees, and any other charges associated with the finance product.

At Autobay, we take pride in our customer-centric approach and strive to make the financing process simple and straightforward. Contact our sales representatives today to learn more about our range of finance options and find the one that best fits your needs. We're here to help you drive away in your dream vehicle with confidence!