People in car

Personal Contract Purchase (PCP)

Learn more about PCP finance and how to apply with Halifax.

The Halifax brand is changing to Lloyds

Learn about the brand change and how it affects Halifax car finance.

 

Bank on Lloyds for car finance

Halifax and Lloyds  are part of the same family of brands. You’ll find a wide range of car finance options with the same great service from the people you know and trust.  

Lloyds car finance

If you use the Halifax app you can continue to apply for Halifax car finance.

PCP features and benefits

You can only take out PCP if you already bank with Halifax. Pay a deposit followed by monthly payments to drive away with your new car – the rest is on your terms.

Do everything online

Apply and manage your PCP car finance easily online – from quote to application to payments.

Control the cost

Pay lower monthly payments compared to Hire Purchase and choose your PCP deposit amount.

Keep the car, if you want to

Pay a lump sum to keep the car at the end of the agreement or hand it back.

What you need to know about Halifax Personal Contract Purchase

Halifax PCP finance gives you the choice and flexibility to secure your dream car.

  • Choose a term between 1 and 4 years.
  • Decide your PCP deposit amount.
  • Set your own yearly mileage limit.
  • We send the money straight to your existing lender.
  • Settle your PCP agreement early – no repayment charges included.

Paying a bigger PCP deposit will lower your monthly repayments. Other terms, borrowing amounts and rates apply.

Charges may apply if you go over the agreed mileage limit and want to return the car. You can avoid this by choosing a realistic mileage when you apply.

If you decide to return the car and it's in good condition, you won't need to pay anything else.

Let's break it down

Who it’s for

You can apply for PCP with us if you:

  • are at least 18 years old and a UK resident
  • are registered for Halifax online banking
  • have had a Halifax personal current account for at least 3 months.

Lending is subject to your status and affordability checks, such as income and expenses.

How it works

  1. Log in to your online banking or the app to choose your PCP deposit, term and yearly mileage limit.
  2. Tell us about you, your finances, the car and the dealership – including their payment info.
  3. We'll give you a decision in minutes.

Once approved, we usually transfer the PCP finance amount to the dealership the same day.

What do I need to apply for PCP?

To apply for PCP finance, make sure you have the following documents and information.

  • Car registration number.
  • Dealer's name and postcode.
  • Deposit amount and overall price.
  • Current and expected annual mileage.
  • Your income details.
  • Your regular spending and rent or mortgage payments.
  • Details of any existing car finance, if possible.
  • The expected delivery date and full details of the vehicle (brand new cars only).

Get a quote for PCP

Ready to explore PCP finance? Get a quote in minutes, without affecting your credit score. Your quote will be valid for 90 days, with no need to reapply.

If you're using the Halifax app

 
Halifax mobile image

Apply using the app

You must be registered for online banking to apply in the app.

Once you're in, select 'Apply', 'Loans and Car finance', then 'Car finance’.



Apply online

We'll take you to the right place to get started.
 

Log in to get a quote

Apply using the app

You must be registered for online banking to apply in the app.

Once you're in, select 'Apply', 'Loans and Car finance', then 'Car finance’.

Apply online

We'll take you to the right place to get started.
 

Log in to get a quote

If you’re not using the Halifax app

If you don't have the Halifax app, or you're using the Lloyds app head to Lloyds for car finance.

Representative example

You could borrow £13,000 over 48 months, with 48 monthly repayments of £191.88 and 1 optional final payment of £6,850. The total amount repayable will be £15,878.36, including a £10 purchase fee.

Representative (fixed):
6.9% APR

Interest rate (fixed):
6.67%

The representative APR applies to loans of £7,000 to £25,000 over 1 to 4 years. There are other terms, borrowing amounts and rates.

This example shows you the rate you could get as a bank account customer taking out our PCP lending. For a personalised quote based on your own circumstances, log in to online banking.

Let’s take a closer look

Explore your options

PCP could work if you’re looking for flexibility and freedom, but we have other car finance options too. Here are some that might suit you.

Hire Purchase

Spread the cost for the wheels you want in monthly payments and at the end of the agreement, the car’s all yours.

Hire Purchase

Car leasing

Drive away with a brand-new car for a set term, with the flexibility to change your car every few years.

Car leasing

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Refinance your car

Need a better deal? If you bank with us, you could switch your car finance to Halifax. Explore your options and you could reduce your monthly repayments.

Switch to Halifax car finance

Car finance options

Whether you’re shopping around for a car or want to understand how car finance works, we have the right plan for you. Explore our car finance options and ride away with confidence.

Compare car finance options

Try the handy calculator

Looking for a new ride? The car finance calculator could steer you in the right direction. From PCP to car leasing, get an idea of what your monthly repayments could be.

Use the calculator

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Compare your options, check out our calculator or get some help.

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Compare your options, check out our calculator or get some help.

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