Herd Vehicle Finance works with a wide panel of lenders to find the best finance deal for our customers. Unlike many other vehicle finance providers we're not tied to one lender which means we can offer greater flexibility to put together a bespoke deal that suits your circumstances best.
What's more, Herd Vehicle Finance Ltd is an appointed representative of Sykes Ihlenfeldt Ltd which is authorised and regulated by the Financial Conduct Authority so you can rest assured that we're fully compliant with regulations.
HP - Hire Purchase
Hire Purchase is one of the easiest ways to finance a vehicle. With a Hire Purchase agreement you sometimes have to pay a deposit - usually 10% upwards - but not always. Then, you agree to monthly payments for a fixed amount spread over an agreed period from as little as 12 months to 60 months. Whilst you are making your monthly payments, the vehicle is ‘owned’ by the Lender. When your last monthly payment has been made you can make an ‘option to purchase’ fee – a relatively small amount which is agreed when you sign the finance agreement. Once that is done, you own the vehicle.
PCP - Personal Contract Purchase
Personal Contract Purchase (PCP) is similar to Hire Purchase but offers lower monthly payments with an additional final payment to buy the vehicle at the end of the loan term. This final payment is calculated based upon: the age of the vehicle, the current mileage, your anticpated annual mileage, the term of your loan. We can provide PCP finance on vehicles up to 4 years old at the end of the agreement term.