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Car Finance

The way car finance works is that you borrow money from a lender to cover the cost of your new or used car and then pay it back in affordable monthly repayments. There are several types of loan available and car finance is the catch-all term used to describe them.

You’ll need to know how much you want to borrow and how long you want to borrow it for (the loan term) to find the car finance deal that’s right for you. You can also put down a deposit to reduce the total loan amount. If your loan is approved, you’ll then pay it back in monthly instalments, plus interest, for the duration of the loan term, which typically lasts between one and five years. Depending on the deal you choose, your finance might be secured against the car.

Hire Purchase

With hire purchase, the loan is secured against the car and you won’t own it until you’ve reached the end of your agreement and paid the ‘Option to Purchase’ fee. You might need to put down a deposit but it’s unlikely that you’ll have to agree to any mileage restrictions.

Personal Contract Purchase

Personal contract purchase loans are also secured against the vehicle, but you don’t automatically own the car when the loan term ends. Instead, you can choose to give it back, use any positive equity as a deposit in a new deal, or buy the car by paying the balloon payment. Monthly payments can be lower than with HP car finance, but you may have to agree to annual mileage limits.

With with HP finance, you’ll own the car at the end of your loan term, but your monthly repayments might be higher than other options and you won’t be able to sell or change the car during your agreement. If you opt for a personal loan, you can do whatever you like with your new car, but your monthly payments might be higher. PCP car finance often offers the lowest monthly repayments, but you could have to agree to mileage restrictions, and you won’t automatically own the car at the end of the loan term.






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Representative Example CS

An OTR Cash Price of £9,991.00 with a deposit of £1,998.20 leaving an amount of credit of £9,991.00. The agreement is resulting a Representative 12.4% APR, Rate of interest 6.53% and a total amount payable of £15,261.00. Payments are based on a duration of agreement of 60 months, with a first monthly payment of £ 220.88, regular monthly payment of £220.88 and a final monthly payment of £230.88. All physical quotes supplied by DT Automotive are in accordance with current FCA regulations and are subject to a full credit search.
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FINANCIAL DISCLOSURE


Used Van Finance Made Simple with DT Automotive

At DT Automotive, we understand that buying a van is a big decision. That’s why we offer flexible used van finance solutions to help you spread the cost of your next vehicle while keeping your cash flow working for your business. Whether you’re a sole trader, limited company, self-employed customer or private buyer, our team can help you explore competitive finance options tailored to your budget.

Working with trusted finance partners, including Close Brothers, we can help arrange Hire Purchase (HP) finance on a wide range of quality used vans. We support customers with different credit backgrounds and will work hard to find the right solution for your circumstances. From your first enquiry through to delivery, DT Automotive provides a simple, transparent and hassle-free finance experience.

FCA No. 988540 DT Automotive (NW) LTD is authorised and regulated by the Financial Conduct Authority, FRN 988540. All finance is subject to status and income. Written Quotation on request. We act as a credit broker not a lender. We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. We are only able to offer finance products from these providers.