Car Finance

Here at Emporium Cars we provide a wide range of finance facilities from bespoke PCP and HP finance with full integration into our web site. From the comfort of your own home you can view all the available finance products for your next vehicle and generate your own personalised quotations by changing the deposit, term and annual mileage.

In addition, you can complete our online application process through our secure proposal form which will pass your information directly to our finance broker Motion Finance. You will then be guided through the process of finding a finance deal that best matches your circumstances.

Hire Purchase (HP) is a fixed cost, fixed period loan linked to the purchase of a vehicle.

HP is suitable for customers who want to own the vehicle once they have made all necessary payments.

The finance provider owns the vehicle until the point the customer has made all necessary payments.

There are no mileage restrictions, servicing requirements or other charges. Customers can 'Voluntary Terminate' their credit agreement before the final payment is due provided they; (1) hand back the vehicle, (2) pay or have paid half of the total amount owed.

1. Usually pay a cash deposit or part exchange their old vehicle (or both)
2. Make all monthly payments. Typically between 3 and 5 years depending on the customer circumstances
3. Pay an 'Option to Purchase Fee' - a small payment which enables the customer to take ownership of the vehicle. Customers can also refuse to pay this fee and hand back the vehicle if they wish to.

The agreement is secured against your vehicle which means if you fail to keep up with repayments the vehicle could be repossessed.

If you put down a lower deposit it could mean a higher risk of negative equity if you settle early or want to change the vehicle before the end of your finance.

Personal Contract Purchase (PCP) is the most popular form of motor finance because it gives the customer flexibility at the end of the agreement and a lower monthly payment compared to alternative products like Hire Purchase or Conditional Sale.

The finance provider owns the vehicle until all monthly payments, the GMFV and Option to Purchase Fee have been paid.

If a customer opts to hand the vehicle back at the end of the term or earlier they may be required to pay charges: (1) if mileage allowance is exceeded the customer will pay a pence per mile charge (2) if the vehicle is damaged beyond 'reasonable wear and tear' the customer will be required to pay a damage charge.

Customers are not guaranteed to have any equity at the end of their agreement.

1. Usually pay a cash deposit or part exchange their old vehicle (or both)
2. Agree a mileage allowance and term over which repayments will be made. The higher the mileage, the higher the monthly payment will be.
3. Be informed of how much the Guaranteed Minimum Future Value of the vehicle will be. Often called a 'balloon payment'.
4. Make all monthly repayments, typically 2 to 4 years.
5. At the end of the agreement the customer has 4 options:
1. Pay the GMFV and take ownership of the vehicle.
2. Refinance the GMFV and continue making monthly payments on the outstanding balance
3. Hand the vehicle back and make no further payments subject to mileage and condition
4. Part exchange the vehicle by using any equity gained from the difference in vehicle value and GMFV if any

The agreement is secured against your vehicle, if you fail to keep up with repayments your vehicle could be repossessed.

If you put down a lower deposit it could mean a higher risk of negative equity if you settle early or want to change the vehicle before the end of your finance.

Due to depreciation, it is possible that there will be no equity in the vehicle at the end of the agreement.

An excess mileage fee is payable at the end of the term if you exceed the agreed mileage parameters and wish to return the vehicle.

Get in touch with us on or email sales@emporiumcars.co.uk and one of our finance specialists will help guide you through the process.