New wheels? You pay your way

Buying your next car?

With Halifax, you can do it your way. Just as you might pick a sporty soft-top over a city run-around, now you can choose from three great options to finance it:

  1. Personal Contract Purchase (PCP)
  2. Hire Purchase (HP)
  3. Personal Loan.
Finance vs loans

PCP or HP

Already decided that car finance is the right option for your car purchase? Halifax Car Finance gives you:

  • an agreement of up to 5 years
  • two different choices of plan (PCP or HP)
  • the peace of mind that the money is paid straight to the dealer.
Get a Car Finance quote

Personal Loan

Already know that a personal loan is right for you? Here are some points to remember:

  • Available from 1 to 7 years.
  • You can use the money for other things than just the car.
  • Money is sent directly to you.
Get a Personal Loan quote

Brand new or second hand? Dealership or private seller?

With a Personal Loan, you’re free to buy your car privately or direct from the showroom. Plus, you could even end up with some money left over.

Are you looking to switch your car regularly?

At the end of your agreement, you have the option to pay a final lump sum to own the car, swap it for a new set of wheels (subject to settling your existing agreement; new agreements are subject to status); or you can hand back the car. Return conditions apply.

Or perhaps it’s time to settle down with the car of your dreams?

With HP, you get equal monthly payments, no mileage restrictions, and at the end of the agreement, the car’s all yours.

What’s more, if you go for PCP or HP, we cover most UK dealers.

And if for any reason your car is not up to scratch, our team’s ready to help sort it out.

Buying your next car?

Flex Car Finance (PCP)

Fixed Car Finance (HP)

Personal Loan

Buying your next car?

Do I need to buy through a car dealer?

Flex Car Finance (PCP)

  •  

Fixed Car Finance (HP)

  •  

Personal Loan

Buying your next car?

Could I have some money left over to spend on something else?

Flex Car Finance (PCP)

Fixed Car Finance (HP)

Personal Loan

  •  

Buying your next car?

Are there excess mileage conditions?

Flex Car Finance (PCP)

  •  

You set the mileage limit so you don't pay for more than you need.

Fixed Car Finance (HP)

Personal Loan

Buying your next car?

How many years can my agreement be?

Flex Car Finance (PCP)

 1 to 4 years

Fixed Car Finance (HP)

1 to 5 years

Personal Loan

1 to 7 years

Buying your next car?

Do you pay me or the dealer directly?

Flex Car Finance (PCP)

We pay the dealer

Fixed Car Finance (HP)

We pay the dealer

Personal Loan

We pay you

Buying your next car?

When will I own the car?

Flex Car Finance (PCP)

Own the car by making the lump sum final payment

Fixed Car Finance (HP)

Own the car at the end of the agreement

Personal Loan

Own the car as soon as you purchase

Buying your next car?

Will you provide me with a guaranteed future value for the car?    

Flex Car Finance (PCP)

  •  

Subject to it being returned in good condition and not exceeding the maximum agreed mileage.

Fixed Car Finance (HP)

Personal Loan

Buying your next car?

What is the interest rate?*

Flex Car Finance (PCP)

5.9% APR when borrowing between £7,000 and £25,000

Fixed Car Finance (HP)

3.4% APR when you borrow between £7,000 and £25,000

Personal Loan

3.5% APR Representative when you borrow between £7,500 and £25,000.

The maximum APR you could be offered is 29.9% APR.

* - Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on product, lending amount and personal circumstances.

Monthly comparison

Here’s an example of how much your monthly repayments could be with PCP, HP or a Personal Loan if you were to buy a car and need finance for £13,000 over 4 years.

Monthly comparison

PCP Finance Example

HP Finance Example

Representative Example Personal Loan  

Monthly comparison

Representative APR

PCP Finance Example

-

HP Finance Example

-

Representative Example Personal Loan  

3.5% APR

Monthly comparison

APR

PCP Finance Example

5.9% APR

HP Finance Example

3.4% APR

Representative Example Personal Loan  

-

Monthly comparison

Total Amount of Credit

PCP Finance Example

£13,000

HP Finance Example

£13,000

Representative Example Personal Loan  

£13,000

Monthly comparison

Annual interest rate (fixed)

PCP Finance Example

5.72%

HP Finance Example

3.31%

Representative Example Personal Loan  

3.45%

Monthly comparison

Agreement Duration

PCP Finance Example

48 months

HP Finance Example

48 months

Representative Example Personal Loan  

48 months

Monthly comparison

Monthly repayments

PCP Finance Example

47 x £179.67

HP Finance Example

48 x £289.75

Representative Example Personal Loan  

48 x £290.31

Monthly comparison

Optional final repayment of*

PCP Finance Example

1 x £6,850

HP Finance Example

-

Representative Example Personal Loan  

-

Monthly comparison

Total amount payable

PCP Finance Example

£15,294.49 (Includes £10 Purchase Fee)

HP Finance Example

£13,908 (Includes £10 Purchase Fee)

Representative Example Personal Loan  

£13,934.88

*With PCP, once you have paid all of your monthly repayments set out in your agreement, you have 3 options:

  1. pay the optional final repayment and own the car
  2. hand back the car (return conditions apply) without paying the optional final repayment
  3. part exchange the car subject to settling your existing finance agreement; new finance agreements are subject to status.

Made Your Choice?

Get a Car Finance quote     Get a Personal Loan quote

Halifax Car Plan Extra (PCP and HP) is available to Halifax current account customers of more than three months who are registered for Online Banking, are aged 18 and over and a UK resident.

With Halifax Car Plan Extra (PCP and HP) we pay the car dealer directly and the majority of UK dealers are covered.

PCP is available on New or Used Cars up to 7 years old at the end of the agreement.

Halifax Personal Loans are available to customers who are aged 18 and over and a UK resident.

Personal Loans: We adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.