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Finance for your customers

We provide competitive, flexible finance products for customers, including Conditional Sale, Hire Purchase and Personal Contract Purchase. 

Having a vehicle is an essential part of modern life. Choosing a car, a motorcycle or an LCV is a big decision and can be one of the largest purchases that people make. That’s why we aim to make vehicle finance easy for our customers, helping them to pay monthly for the vehicle they want.

Compare our products

We have a range of finance options available to your customers, depending on their budget and what they want out of their vehicle. Our handy comparison table below should help you explain the differences to your customers.

Conditional Sale (CS) Hire Purchase (HP) Personal Contract Purchase (PCP)
Requires initial deposit Yes A deposit of up to 10% is usually required. Yes A deposit of up to 10% is usually required. Yes A deposit of up to 10% is usually required.
Fixed monthly payments Yes The amount of credit required plus the interest charged is spread equally across the agreement term. Yes The amount of credit required plus the interest charged is spread equally across the agreement term. Yes The amount of credit required plus the interest charged is spread equally across the agreement term.
Finance is secured against the vehicle Yes Unlike a personal loan which may be secured against your house or other assets, with motor finance, the loan is only secured against your vehicle. Yes Unlike a personal loan which may be secured against your house or other assets, with motor finance, the loan is only secured against your vehicle. Yes Unlike a personal loan which may be secured against your house or other assets, with motor finance, the loan is only secured against your vehicle.
Flexible ownership at the end of the agreement No You will own the vehicle after you have paid the final repayment. Yes You will have two options: pay an 'option to purchase' OTP fee and become the full legal owner, or hand the vehicle back to us. Yes You will have 3 options: part-exchange it, pay the final balloon repayment plus fees, or hand it back to us - see below for more details.
Early repayment options Yes If you're ready for a change or you want to own the vehicle earlier, you can settle your agreement at any time before the end of the agreement. Yes If you're ready for a change or you want to own the vehicle earlier, you can settle your agreement at any time before the end of the agreement. Yes If you're ready for a change or you want to own the vehicle earlier, you can settle your agreement at any time before the end of the agreement.
Excess mileage charges No No Yes The additional cost per mile you will pay if you exceed the annual mileage or total mileage agreed at the outset of the agreement. This information will be shown in the agreement.
Vehicle condition charges (Wear and Tear) No No Yes If you choose to hand back the vehicle, we will inspect the vehicle to ensure it meets out fair wear and tear standards. For more information, click here.
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Conditional Sale (CS)

Conditional sale is a great option if your customer wants to own the vehicle at the end of the agreement. With CS, the customer is usually required to pay a deposit of around 10%, then the remaining cost of the vehicle, plus interest, is repaid in equal monthly instalments across the term of the agreement which can between one – five years (12 – 60 months). The finance is secured against the vehicle.

We can sometimes offer a balloon payment to customers looking for a car or motorcycle. This pushes some of the financed amount to the end of the term and must be repaid to settle the agreement but can help to lower the monthly repayments.

Fees can be paid upfront or spread across the agreement term. If they are spread, they are subject to interest, but will make the initial upfront payment lower and must be agreed with the customer, as it will increase the total cost of borrowing.

Available for:

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Hire Purchase (HP)

Hire purchase could be an option if your customer is looking for something simple and straightforward but wants to be able to hand the vehicle back at the end of the term. With HP, the customer is usually required to pay a deposit of around 10%, then the remaining cost of the vehicle, plus interest, is repaid in equal monthly instalments across the term of the agreement which can between one – five years (12 – 60 months). The finance is secured against the vehicle.  

With fixed monthly repayments, at the end of the term there is no lump sum. However, we can sometimes offer a balloon payment to customers looking for a car or motorcycle. This pushes some of the financed amount to the end of the term and must be repaid to settle the agreement but can help to lower the monthly repayments.

Fees can be paid upfront or spread across the agreement term. If they are spread, they are subject to interest, but will make the initial upfront payment lower and must be agreed with the customer, as it will increase the total cost of borrowing. 

Your customer will have two options: 

  • Pay an ‘option to purchase’ (OTP) fee and become the full legal owner of the vehicle
  • Hand the vehicle back to us and walk away. We will remain the legal owner of the vehicle

Available for:

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Personal Contract Purchase (PCP)

PCP is great if your customer wants to change or upgrade their car or motorcycle* at the end of the finance term. With PCP, a deposit of around 10% is usually required, and then the remaining cost of the vehicle, plus interest, is repaid in equal monthly instalments across the term of the agreement which can be between one – five years (12 – 48 months). The finance is also secured against the vehicle.  

With PCP, we guarantee the future value of the vehicle at the end of your customer’s agreement based on the agreed annual mileage and maintenance of the vehicle (known as the ‘Guaranteed Minimum Future Value’). PCP agreements are based on estimated annual mileage and any excess mileage and/or damage may incur additional charges. By deferring this amount to the end of the term, your customer could benefit from lower fixed monthly payments compared to our HP and CS products. 

Fees can be paid upfront or spread across the agreement term. If they are spread, they are subject to interest, but will make the initial upfront payment lower and must be agreed with the customer, as it will increase the total cost of borrowing.

Customers have three options at the end of the agreement:

  • Pay the Guaranteed Minimum Future Value plus the Option to Purchase Fee (OTP) in one lump sum and become the legal owner
  • Hand back the vehicle and the keys, pay any charges incurred, and walk away
  • Part-exchange it – use any value left in their vehicle to part-exchange it for a new one

Available for:

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*Terms may vary 

LCVs

LCV Finance

We know that speed is important to commercial vehicle buyers, so our process is quick and easy – our finance decisions are made in minutes, meaning your customers can feel comfortable knowing they will be on the road as soon as possible.

To find out why dealers are choosing Close Brothers Motor Finance for LCVs, click here

Credit lines

Credit lines

With a credit line facility, we can quickly and easily help your business customers purchase a number of vehicles over a period of 12 months.

With pre-approved credit amounts, the finance process is easier and quicker, giving more flexibility across products and vehicle types.

To find out more about how credit lines work, click here

Available for:

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