Finance

At Preloved, we have three straightforward finance options. Let's break them down.

Hire Purchase (HP): This straightforward route involves paying an initial deposit, followed by fixed monthly payments over an agreed term. Once all payments are made, the vehicle is yours. HP is ideal if you're set on owning the vehicle at the end and prefer predictable payments without mileage restrictions.

Personal Contract Purchase (PCP): PCP offers flexibility. You pay a deposit, and lower monthly payments compared to HP, as you're essentially covering the vehicle's depreciation during the contract term. At the end, you have options: make a final payment to own the vehicle, return it, or trade it in for a new model. This route suits those who like to switch vehicles every few years and want the option to decide later whether to keep the vehicle 

Lease Purchase: Similar to PCP, Lease Purchase involves lower monthly payments and a larger final payment. However, unlike PCP, you're committed to purchasing the vehicle at the end of the term. This option suits those who want lower monthly payments and are certain they want to own the vehicle eventually.​

Each of these finance options has its own set of benefits and considerations. Your choice depends on your financial situation, desire for vehicle ownership, and how often you like to upgrade. Always ensure you understand the terms and conditions before signing on the dotted line.