Car Finance Explained

Looking for competitive rates, affordable monthly payments, and flexible deposits for your next vehicle purchase? Look no further than Blackshaws. Our quick and simple process makes financing easy.

What is Hire Purchase?
Hire Purchase (HP) is a traditional way to finance your car. Simply choose your deposit amount and payment term, and we will calculate the interest to determine your fixed monthly payment. This amount will remain the same throughout the agreement, allowing you to budget confidently. At the end of the agreement, you will own the car.

What is PCP?
Personal Contract Plan (PCP) offers the option to change your car every 2 to 3 years. We guarantee the value of your car at the end of the agreement with the Guaranteed Future Value (GFV). You can choose your deposit amount, payment term, and fixed monthly payment. At the end of the agreement, you have the option to part exchange the car, pay the GFV and own the car, or simply return the car.

What is PCH?
Personal Contract Hire (PCH) is a leasing arrangement over a set period with an agreed annual mileage. This allows access to new vehicles with a fixed monthly payment, including the option for servicing and maintenance. At the end of the agreement, the vehicle must be returned in a specified condition. There is no option to own the vehicle, but a new agreement can be set up for another car.

Contact us

For advice on car finance options, contact our sales team at Alnwick 01665 602202 or Morpeth 01670 719478. Blackshaws Garage (Alnwick) Limited is authorized and regulated by the Financial Conduct Authority, providing insurance contracts and acting as a credit broker. We can introduce you to finance providers and may receive commission for the introduction.