We can provide finance for people who have had difficulties obtaining credit in the past,
if we can’t approve you, we don’t think anyone can!

Personal Contract Purchase

Personal Contract Purchase is a car finance agreement where you choose your car, the finance company pay the dealership and you repay the finance company in monthly instalments. The term usually lasts 2-3 years and at the end of the agreement you will have be able to either:

1) Buy the car by paying the balloon payment (also known as the Guaranteed Minimum Future Value)

2) Hand the car back – the finance company already set the GMFV, so handing the car back means you settle the deal.

3) Part exchange the car or sell it privately, using the money to settle the GMFV with the finance company and keeping any profit.

Due to the structure of this type of finance agreement, it’s perfect for anyone who likes to change their car regularly, without worrying about reselling the car, when you fancy a change.

Benefits of PCP at a glance:

Monthly repayments are usually lower than Hire Purchase

Offers more flexibility at the end of the agreement compared to other types of car finance

Benefit from a smaller initial deposit

Can easily enter into a new PCP contract at the end of the term if you want a new car

If the car is worth more than the GMFV at the end of the term, you can use the equity towards a deposit on a new car

We work really hard to ensure we can get you the best finance deal. Through our panel of over 15 lenders, we can accommodate a wide variety of credit types.

Who can we help?

✓ Bad credit history

✓ No credit history

✓ Ex-bankrputcy

✓ Self-employed

✓ Unemployed

✓ Part time / agency workers

✓ Taxi drivers

Black car driving along a road on a summer day

If you’re over the age of 18, hold a UK driving licence and have lived in the UK for at least 3 years then we can help you secure car finance.

Fill out an application form online

Get a free, no obligation quote now

Quick online application and we’ll give you a call back

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Registered with Information Commissioners Office ICO Registration Number: ZA132327

UK Car Finance Limited. Registered in England
Registered number 9397657.
Registered Office Lakeside House, 30 Northumbrian Way, Newcastle Upon Tyne, NE12 6EH

Refused Car Finance is a trading style of UK Car Finance Limited and is acting as a licensed credit broker and a lender, we are authorised and regulated by the Financial Conduct Authority, registration number 714966. All finance is subject to status and income. Applicants must be 18 or over, terms and conditions apply, guarantees and indemnities may be required.

Written quotations on request. Certain exclusions for NI residents.

Note: We cannot be held responsible for specification errors, and price errors, we use Motortrade software which is not always 100% accurate. Copyright 2017 Refused Car Finance.

Refused Car Finance can introduce you to a limited number of finance providers based on your credit rating and we may receive a commission for such introductions.

*Representative Example
Cash price – £8,500.00, Deposit – £0.00, Amount of credit – £8,500.00, Rate of interest – 16.24% per annum, Amount of interest – £6,912.00, Lender Documentation fee – £0.00, Lenders option to purchase fee – £10.00, Total charge for credit – £6922.00, First repayment – £256.70, Followed by 58 Monthly repayments of – £256.70, Final repayment – £266.70, Total amount payable – £15,412.00, Representative APR – 29.9%

*Last month, over 51% of Refused Car Finance customers that had their loan arranged were offered an APR of 29.9% or lower

In the first 3 months of this year, UK Car Finance Ltd received 2140 unique applications, of which we were able to offer 2136 applicants a line of credit, subject to the applicant being able to provide acceptable proof of affordability, being free from insolvency and or/a supporting guarantor fitting the lenders eligibility criteria, this represented 99.8% of applicants in this period.

Rated No.1 for car finance in the North East of England collated from Google Business Reviews