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Hire Purchase

With a HP agreement, customers can spread the cost of their car, van or motorcycle by paying fixed monthly repayments over 12 to 60 months. With a maximum advance of £100,000, no minimum deposit is required.

Good for customers, if:

  • they want the option to pay a deposit
  • they want to purchase optional extras such as Settlement Shortfall and Value Added Products
  • they like equal repayments, which can be spread over 12 to 60 months to suit their budget
  • they don’t want any mileage restrictions
  • they want the option to pay off the full agreement early
  • they want to own the vehicle at the end

Personal Contract Purchase

PCP allows customers to spread the cost of their car or motorcycle by paying fixed monthly repayments over 36 to 48 months. With a maximum advance of £100,000, no minimum deposit is required. PCP contains a balloon payment at the end of the finance agreement which makes the monthly repayments lower than a HP agreement. There are three options at the end of the agreement; retain, return or replace the vehicle.

Good for customers, if:

  • they want the option to pay a deposit
  • they want to purchase optional extras such as Settlement Shortfall and Value Added Products
  • they want lower monthly repayments in comparison to a HP
  • they want to spread repayments over 36 to 48 months to suit their budget
  • they want flexibility when it comes to end of agreement options
  • they’re happy to pay a larger balloon payment at the end of their agreement if they decide to keep the vehicle
  • they can stick to an expected annual mileage

MotoNovo Commercial

Help customers free up cash flow with finance solutions geared for them. Offering a range of vehicle funding solutions, we're helping drive businesses forward. Business customers get access to our Business Vehicle Specialists, dedicated specialist underwriting, and a range of products specifically for business customers.

Browse our MotoNovo Commercial products

National Subsidy

With this HP product, dealers can offer customers a lower rate than their base rate.

Available on cars, vans and motorcycles, fixed monthly repayments can be spread over 12 to 60 months. With a maximum advance of £75,000, no minimum deposit is required.

 

Finance is subject to affordability checks and is only available to UK residents aged 18 and over. If customers don't keep up with repayments, the vehicle may be repossessed.

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