1 Lower monthly payments
By deferring a chunk of the amount you finance to the end of the contract, it means your monthly payments will be lower than if you spread the whole cost across the months.
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Options which are simple and easy, designed to fit around your needs, and support you in driving away in a new or used vehicle.
There are two main types of finance agreement for an individual buying their own car. Personal Contract Plan (PCP) and Hire Purchase (HP) both are available for used cars, with our used stock showing a finance calculator there for you to workout figures that are suitable, you can then apply for finance online.
Our new Volkswagen cars and SUVs show the current PCP monthly payments and finance examples. When you are in touch with our sales team they will make you a personalised finance illustration for whichever car you are interested in.
For business owners Contract Hire (CH) is a good option for leasing cars.
We are regulated by the Financial Conduct Authority and act as a credit broker and not a lender, our full financial disclosure statement is on the page footer.
Find out more about PCP, HP and CH below with product information guides available to download.
You choose your deposit, how many miles you will drive a year, and the length of your agreement.
This is used to work out your monthly payments and optional final payment, which give you the ability to plan ahead with a fixed monthly outgoing.
At the end of your agreement you can then choose to:
Watch the PCP explained video
By deferring a chunk of the amount you finance to the end of the contract, it means your monthly payments will be lower than if you spread the whole cost across the months.
You don't have to decide what to do with the vehicle until the end of your contract, so you can make that decision when you know your future circumstances.
We guarantee the final payment at the end of the contract as long as it comes back in the mileage and condition agreed.
The flexibility built into your agreement means you can keep upgrading your vehicle regularly, you don't have to wait until the end of your agreement unless you want to.
The flexibility of PCP means it is great for a range of individuals. It may be the best option for you if:
Once you have chosen your vehicle you just need to decide your initial payment and how long you want to pay back the finance over.
The amount left to finance is then divided equally over the length of your agreement to make up your monthly payments.
Once you have made all repayments, and paid the option to purchase fee, you own the vehicle.
Watch the HP explained video
As you own the vehicle at the end of the agreement, there is no limit on how much you can drive the vehicle.
Hire Purchase is a simple agreement, once you have paid all the monthly payments the vehicle is yours to sell, trade in, or keep.
Hire Purchase is a straight forward way to buy a new or used vehicle without a large financial outlay up front. By breaking down the cost of the vehicle into monthly payments, it enables you to budget reliably over the next 3-5 years.
You determine how long you want to spread the finance over, and how much of an initial payment you want to put down. This enables you to tailor the agreement to suit your situation.
The simplicity of Hire Purchase can help a range of people get into a new or used vehicle. It may be the best option for you if:
Once you have chosen your vehicle you need to decide on your initial rental, how many miles you drive each year, and how long you want to lease the vehicle for. These will be used to calculate your monthly payments.
You can also choose to include a level of servicing and maintenance into your monthly rental, keeping your vehicle in good condition.
Once you have paid all outstanding rentals, you simply hand your vehicle back, subject to fair wear and tear and excess mileage charges.
Watch the CH explained video
As part of a Contract Hire agreement you can include different levels of servicing, giving you one monthly payment for a vehicle and upkeep.
As you simply hand the vehicle back at the end of each agreement, it means you are able to keep upgrading your vehicle for the newest model.
As Contract Hire is a leasing agreement, you have no risk of the vehicle falling in value. You simply pay your monthly rentals and hand the vehicle back subject to fair, wear and tear and excess mileage.
If you would like your company to have new vehicles without having them on your balance sheet, Business Contract Hire could be a good option. If you are leasing as a business customer, you may be able to claim back the tax.
Contract Hire is a straight forward leasing agreement, which can help a range of people get into a new vehicle. It may be the best option for you if:
Before you enter any finance agreement please make sure you
A - understand what the terms of the agreement are and accept they are correct for you
B - understand the risks involved by taking out the finance agreement to your personal circumstances and credit rating
C - can afford the repayment terms of the agreement
If you want more information about our car finance, please get in touch using the form below or if you need support with financial difficulties click here.
Search our new car finance offers, our used car stock or business lease offers here.
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Reg. Office:
Hawco & Sons Ltd
Greenwell Road
Alliance Centre
Aberdeen
AB12 3AX
Reg. Company No.60833
VAT Reg. No. 384 6833 13
Hawco & Sons Limited is authorised and regulated by the Financial Conduct Authority for Consumer Credit Activities and is listed in the FCA’s Register. Our Firm Reference Number is 684384.
We are a credit broker and not a lender. We can introduce you to a limited number of lenders and their finance products which may have different interest rates and charges. We are not an independent financial advisor. We will provide details of products available from the lenders we work with, but no advice or recommendation will be made. You must decide whether the finance product is right for you. We do not charge you a fee for our services. Whichever lender we introduce you to, we will typically receive commission from them (either a fixed fee or a fixed percentage of the amount you borrow). The lenders we work with could pay commission at different rates. However, the amount of commission we receive from a lender does not have an effect of the amount you pay to that lender under your credit agreement.
We ask all customers to please act in a respectful and courteous manner when dealing with our staff. Hawco Group takes a zero tolerance approach to aggressive, abusive or intimidating behaviour of any kind. Thank you for your understanding.
