Are you looking to get your next car on finance? There is a range of options available to you, including bank loans and car finance deals.

We’re here to shed light on both options so you can make an informed decision about which is right for you…

Car Finance

HP and PCP are the most popular car finance products offered by dealerships. The main difference between them is that you will own the car at the end of a HP finance agreement. Whereas with PCP, you can pay an optional balloon payment at the end if you want to own the car, or you can return it and start a new finance agreement for a different vehicle.

A big advantage of car finance is that it suits every credit profile and no deposit is needed. The application process is much quicker and easier than it is for a bank loan, and you can get a decision in minutes. Most customers are able to drive away in their new car the same day. At Motor Range, we’ll work with you to find the right deal to suit your individual needs, using a range of trusted finance providers.

Bank loans

You can apply for a personal loan from your local bank and use it to finance your new car purchase. There won’t be any mileage restrictions, unlike with PCP finance, but it can be difficult to qualify for a bank loan and collateral is often required.

It’s a more time consuming process as there’s usually lots of form filling and a long turnaround time for getting accepted. Whereas when you opt for car finance, brokers do all the work for you for a more stress-free experience.

Ready to find your next car?

Once you’ve decided which financing option is right for you, browse our range of used cars and drive away in the perfect one for you. Applying for finance at Motor Range is easy - you can get started with a 30 second, no obligation application or give us a call if you have any questions.