Car Finance

Lock-in your monthly motoring costs

Living costs are on the up – but our fixed-rate car finance plans will let you lock-in your monthly motoring costs for up to five years, leaving you free to focus on bigger things.

Every car and van sold at Motorpoint is available with 12.9% APR finance.

So all you have to do is find your new vehicle and you’ll be shown example finance costs. It’s that simple.


Low fixed rates

Competitive finance rates of 12.9% APR


Spread the cost

Choose a time period to repay that works for you and lock-in your monthly costs for up to 5 years

Get approved quickly

Get a competitive quote for your used car finance online, over the phone or in store

What car finance options are available at Motorpoint?

We offer Hire Purchase (HP) or Personal Contract Purchase (PCP) when buying your nearly new car from Motorpoint. Both used car finance options can be tailored to suit your needs and your circumstances, and you can start your agreement safe in the knowledge that your rates and monthly payments won’t change for the duration of your agreement.

Hire Purchase

Hire Purchase, also known as HP Finance, allows you to secure a loan against the car you're purchasing. Finance your car by spreading the cost with fixed regular monthly repayments, after which you own the car outright.

This type of finance is ideal if…

  • You want to have the full amount borrowed paid off by the end of the agreement
  • You know you want to own the car outright at the end of the agreement
  • You don’t want to commit to yearly mileage limits

Personal Contract Purchase

PCP Finance stands for Personal Contract Purchase. This is a loan secured against the vehicle, however you don't own the car once the loan term has ended. You can either purchase the car by paying the larger, final payment (the minimum future value of your vehicle is guaranteed), use any remaining positive equity against an alternative car deal, or return the car.

This is right for you if...

  • You want to keep your monthly payments as low as possible
  • You’re already planning to exchange the car for a new one at the end of the period
  • You’re confident about being able to commit to an agreed monthly mileage limit

Car finance comparison table

Considerations HP PCP
Deposit Optional Optional
Fixed monthly payments Yes Yes
Mileage caps No Yes
Fixed monthly payments Yes Yes
Wear and tear fines No Yes
Car ownership at end of term Yes Optional

Read our full terms and conditions

*Motorpoint Ltd is authorised and regulated by the Financial Conduct Authority (registration number is 684004) and is permitted to advise on and arrange Consumer Finance contracts. Motorpoint Ltd will introduce you to a limited number of finance providers that we have carefully selected. This group of lenders provides us with a range of products which may be suitable for your purchase (subject to status) we will explain the key features of those products to you. We do not charge fees for our Consumer Credit services. We will  be paid a commission for introducing you to our selective group of lenders,  this will be a percentage of the amount that you borrow. If you ask us what the amount of commission is , we will tell you in good time before the Finance agreement is executed.

What is the best financing option for you?

Hire Purchase monthly payments tend to cost more than PCP payments, as you’re paying off the full value of the car. PCP loans, whilst normally lower in cost, tend to come with annual mileage limits. Going over these limits usually incurs a fee per mile.

HP finance is suitable if you’re looking to pay off your vehicle by the end of your borrowing term and own the car outright. PCP finance is a good option if you’re looking for lower payments or if you don’t want to own the car at the end of the term and might consider an alternative vehicle.

Why finance with Motorpoint?

Financing your car with Motorpoint is easy.

  • Competitive rates: Benefit from our low rate 12.9% APR.
  • 3 easy ways to apply: Apply for car finance online, in-store or over the phone.
  • Flexible plans: Find a finance plan that works for you – tailor it to how much you would prefer to pay each month and the amount of deposit you'd like to pay. That said, Motorpoint PCP and HP finance are available with zero deposit!
  • Fixed rates: Finance your car for up to five years, safe in the knowledge that your interest rate won't change

Your car finance questions answered

In the UK, you must be a resident and at least 18-years old and to be eligible for car finance. Credit scores are also considered, so the better your score, the more likely you are to be approved.

We have a finance calculator on every car advert page. This will allow you to explore your repayment options for that car based on differing deposit amounts and repayment periods.

You can apply for finance either online, in-store or over the phone. We can help you create a plan that meets your needs, answer any questions about any options you may have, and then complete the application for you.

When you apply, we will require employment details, three years' address history, bank account details and a copy of your driving licence.

The decision is normally instant once the proposal has been received by one of Motorpoint’s finance partners.

You can settle your account at any time on both Hire Purchase (HP) and Personal Contract Purchase (PCP) agreements.

The cheapest way to finance a car would be with one, upfront payment, as there would be no interest to pay. If this isn't an option, on a monthly basis, PCP is normally cheaper than HP finance. With PCP, there is a balloon payment for the outstanding value of the car at the end of your contracted term.

Financing your car includes the cost of the vehicle itself, plus interest and any charges incurred during the contracted payment term.

Some finance companies may offer to perform a soft check on your finances, which doesn't impact your credit score. This will help you to gauge your eligibility. A full credit check, on the other hand, will be carried out when you apply for finance. Applying for finance a number of times can negatively affect your credit score, as lenders can see this as a risk.

Call 01332 227227 to speak to one of our advisors about our personalised plans, tailored for you.