New wheels? You pay your way

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.

 

Already know which option is right for you?

Get a Car Finance quote Get a Personal Loan quote

Finance vs loans

Flex Car Finance (PCP)

Might be right for you if you’re looking to switch your car regularly.

  • 5.9% APR representative when you borrow between £7,000 and £25,000.
  • Agreements between 1-4 years.
  • Money is sent directly to the dealer.
  • Option to own the car by making a lump sum final payment at the end of your agreement.
  • You set the mileage limit. Excess mileage charges apply if you decide to return the vehicle.
  • At the end of the agreement you can return the vehicle. To avoid incurring charges, the vehicle needs to be in good condition.
Get a Car Finance quote

Fixed Car Finance (HP)

Might be right for you if you want equal monthly payments.

  • 3.4% APR representative when you borrow between £7,000 and £25,000.
  • Agreements between 1-5 years.
  • Money is sent directly to the dealer.
  • Own the car at the end of your agreement.
  • No mileage restrictions.
Get a Car Finance quote

Personal Loan

Might be right for you if you want more freedom.

  • 3.5% APR representative when you borrow between £7,500 and £25,000.
  • Agreements between 1-7 years.
  • Money is sent to you.
  • Own the car as soon as you make the purchase.
  • No mileage restrictions.
  • You could borrow extra and use it for other things. For example, you could pay off other borrowing.
Get a Personal Loan quote

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.

The maximum APR you could pay on a personal loan is 29.9%.

  • 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

    PCP Finance Example

    HP Finance Example

    Personal Loan Representative Example

    Monthly comparison

    Representative APR

    PCP Finance Example

    -

    HP Finance Example

    -

    Personal Loan Representative Example

    3.5% APR

    Monthly comparison

    APR

    PCP Finance Example

    5.9% APR

    HP Finance Example

    3.4% APR

    Personal Loan Representative Example

    -

    Monthly comparison

    Total Amount of Credit

    PCP Finance Example

    £13,000

    HP Finance Example

    £13,000

    Personal Loan Representative Example

    £13,000

    Monthly comparison

    Annual interest rate (fixed)

    PCP Finance Example

    5.72%

    HP Finance Example

    3.31%

    Personal Loan Representative Example

    3.45%

    Monthly comparison

    Agreement Duration

    PCP Finance Example

    48 months

    HP Finance Example

    48 months

    Personal Loan Representative Example

    48 months

    Monthly comparison

    Monthly repayments

    PCP Finance Example

    47 x £179.67

    HP Finance Example

    48 x £289.75

    Personal Loan Representative Example

    48 x £290.31

    Monthly comparison

    Optional final repayment of*

    PCP Finance Example

    1 x £6,850

    HP Finance Example

    -

    Personal Loan Representative Example

    -

    Monthly comparison

    Total amount payable

    PCP Finance Example

    £15,294.49 (Includes £10 Purchase Fee)

    HP Finance Example

    £13,908 (Includes £10 Purchase Fee)

    Personal Loan Representative Example

    £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.

Can I apply?

You can apply if you're:

  • A Halifax current account holder (minimum 3 months)
  • Registered for Online Banking
  • Aged 18 or over
  • A UK resident

Looking to refinance?

You could lower your monthly repayments or pay back a lump sum over an affordable term by refinancing your car.

Refinance your car

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.