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

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

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

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?

Buying your next car?

Personal Loan

Flex Car Finance (PCP)

Fixed Car Finance (HP)

Buying your next car?

Do I need to buy through a car dealer?

Personal Loan

Flex Car Finance (PCP)

  •  

Fixed Car Finance (HP)

  •  

Buying your next car?

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

Personal Loan

  •  

Flex Car Finance (PCP)

Fixed Car Finance (HP)

Buying your next car?

Are there excess mileage conditions?

Personal Loan

Flex Car Finance (PCP)

  •  

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

Fixed Car Finance (HP)

Buying your next car?

How many years can my agreement be?

Personal Loan

1 to 7 years

Flex Car Finance (PCP)

 1 to 4 years

Fixed Car Finance (HP)

1 to 5 years

Buying your next car?

Do you pay me or the dealer directly?

Personal Loan

We pay you

Flex Car Finance (PCP)

We pay the dealer

Fixed Car Finance (HP)

We pay the dealer

Buying your next car?

When will I own the car?

Personal Loan

Own the car as soon as you purchase

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

Buying your next car?

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

Personal Loan

Flex Car Finance (PCP)

  •  

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

Fixed Car Finance (HP)

Buying your next car?

What is the interest rate?*

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.

Flex Car Finance (PCP)

7.4% APR when you borrow between £3,000 and £60,000

Fixed Car Finance (HP)

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

* - 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 a Personal Loan, PCP or HP if you were to buy a car and need finance for £13,000 over 4 years.

Monthly comparison

Monthly comparison

Representitive Example Personal Loan    

PCP Finance Example

HP Finance Example

Monthly comparison

Representative APR

Representitive Example Personal Loan    

3.5% APR

PCP Finance Example

-

HP Finance Example

-

Monthly comparison

APR

Representitive Example Personal Loan    

-

PCP Finance Example

7.4% APR

HP Finance Example

3.4% APR

Monthly comparison

Total Amount of Credit

Representitive Example Personal Loan    

£13,000

PCP Finance Example

£13,000

HP Finance Example

£13,000

Monthly comparison

Annual interest rate (fixed)

Representitive Example Personal Loan    

3.45%    

PCP Finance Example

7.14%

HP Finance Example

3.31%

Monthly comparison

Agreement Duration

Representitive Example Personal Loan    

48 months    

PCP Finance Example

48 months

HP Finance Example

48 months

Monthly comparison

Monthly repayments

Representitive Example Personal Loan    

48 x £290.31

PCP Finance Example

47 x £230.71

HP Finance Example

48 x £289.75

Monthly comparison

Optional final repayment of*

Representitive Example Personal Loan    

-

PCP Finance Example

1 x £4,748

HP Finance Example

-

Monthly comparison

Total amount payable

Representitive Example Personal Loan    

£13,934.88

PCP Finance Example

£15,591.37 (Includes £10 Purchase Fee)

HP Finance Example

£13,908 (Includes £10 Purchase Fee)

*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 Personal Loan quote     Get a Car Finance quote

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

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

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.