Financing Your Dream Car 

Need help financing your car purchase? Choosing which finance offer best suits you can be confusing. But it doesn’t have to be.  Our expert team is on hand to help. As part of Spirit Motor Group we have a host of finance options at great rates that will help you get on the road.


One of the most popular and affordable means of financing your car, Personal Contract Plans (PCP) are a form of hire purchase. Customers don’t own the vehicle until the final payment is made. PCP consists of 3 distinct parts which include:

  • Deposit: Typically between 10% - 30% of the car’s value, it can be paid in cash or the consumer can use a car they own as full or part of the deposit depending on value.
  • Monthly repayments: PCP contracts are usually made for terms of at least three to five years. PCPs generally have low monthly repayments.
  • Guaranteed Minimum Future Value (GMFV): How much it will cost you to own the car at the end of the contract. This takes into account such things as, the car you are buying, length of the contract, the condition of the car at the end of the contract and your annual mileage.

At the end of the PCP contract, there are a number of options:

  • Pay the GMFV, to own the car. There may be other fees associated with buying the car for example acceptance fees or completion fees which should be outlined in your current PCP contract.
  • Hand the car back. While you generally don’t have to pay the dealer anything if you do decide to hand the car back, you should check your contract and advise the dealership in advance.
  • Enter into another PCP contract to buy a new car. You should check the contract or ask the dealer for details on what happens if you decide to enter into another PCP contract.

Learn more about PCP on the Spirit Motor Group website.

Hire Purchase

Hire purchase is different from a personal loan because you don’t own the car until you have made the last repayment. The main reason you might choose a hire purchase agreement is convenience, as the garage selling you a new car may also arrange your finance.

Learn more about hire purchase on the Spirit Motor Group website.

Want to learn more about PCP and Hire Purchase? Feel free to call our team on or send an email to to chat to one of our expert team.