Car Finance Explained
There are three main types of finance deals that you might want to consider.
Hire Purchase
At Majestic UK Autos Ltd, Hire Purchase (HP) is one of the most straightforward ways to finance your next car. This agreement is secured against the vehicle, allowing you to spread the cost over a fixed period. You’ll usually pay an initial deposit, followed by regular monthly instalments that include interest. Once the final payment is made, the car is yours to own outright. It’s a simple and dependable way to get behind the wheel of your ideal vehicle with predictable payments and complete peace of mind.
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Personal Contract Purchase (PCP)
At Majestic UK Autos Ltd, Personal Contract Purchase (PCP) is a great option for drivers who like the idea of newer cars with affordable monthly payments. You’ll begin with a deposit, followed by fixed instalments over an agreed period—typically around three years. At the end of the agreement, you can either make a final balloon payment to own the car, hand it back with no further obligation (subject to mileage and condition), or use any remaining value towards your next vehicle. PCP offers a flexible and cost-effective way to enjoy driving the car you want, with options that suit your lifestyle.
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Personal Leasing (Contract Hire)
At Majestic UK Autos Ltd, Personal Leasing — also known as Contract Hire — provides a simple and flexible way to enjoy driving without the long-term commitment of ownership. Choose your vehicle, decide on your contract length and mileage, and pay a fixed monthly fee. When the lease ends, you simply return the car, with no stress about selling or depreciation. It’s a smart choice for drivers who enjoy newer models and want predictable, hassle-free motoring at a manageable cost.
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