How Finance Works

We understand that everybody's financial requirements are different, which is why we are pleased to assist with a range of finance plans to meet individual needs. To help you understand how finance works, we've put together some useful sections on the different types of finance plans and terminology you might see. If you still have any questions around finance, our specialists are on hand and are happy to assist you.

What is Hire Purchase?

Hire Purchase is a finance product that allows you to budget accurately by giving you a fixed interest rate and fixed monthly payments. The deposit and length of the agreement can be easily adjusted letting you customise the agreement to your budget. Because the vehicle acts as the security for the agreement, other forms of credit remain available to you for future use. Hire Purchase agreements can be settled at any time. At the end of the term you will take full ownership of the vehicle. 

What is Personal Contract Purchase?

Personal Contract Purchase, or PCP, is a finance product that lowers your monthly payment by deferring part of the payment to the end of the agreement. Your deposit, monthly payment, annual mileage and final payment can be adjusted to your needs. The agreement can be settled at any time.The deferred payment is calculated using industry data to predict the value of your vehicle at the end of the agreement. Opting for a lower deferred payment can increase equity giving you more to put as a down payment on your next purchase.

What is Conditional Sale?

A simple method of financing that gives you the certainty of a fixed interest rate, and fixed monthly payments throughout the agreement. The initial deposit and repayment period can be structured to help meet your budget and the length of time you expect to keep the vehicle. The deposit can be constructed form the trade in value of your current vehicle or in cash.

Harwoods Business Finance

If you are considering a vehicle for your Business Needs you’ll come across a range of options available from Harwoods. With access to competitive prices and finance rates, our team of professional experts are on hand to advise and assist you as well as finding the best deal available.

Harwoods Personal Finance

Whether you drive for your own pleasure or as a company car, Harwoods’ Financial Services offer a wide range of competitive finance and insurance plans. These plans are developed exclusively and are tailored to meet all your individual requirements.

Find Your Perfect Plan

Thinking about finance but not sure where to start? To answer more questions you might have, read our finance FAQs below. Alternatively, you get in touch with us to discuss your needs. Our advisors are friendly, knowledgeable and ready to find the perfect plan for you.

Finance FAQs

Am I Eligible for Car Finance?

How Much Will My Deposit Be?

What Information Do I Need for Finance?

Can I Part-Exchange with Finance?

Can I Get a Car on Finance Delivered?

What is the Difference Between HCP and PCP?

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