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Car finance FAQs
We offer both car loans and hire purchase agreements.
With a car loan, you borrow money from a lender and repay it monthly. You can then use the money to buy a car either privately or from a dealership. You will be the official owner of the car as soon as you buy it, meaning you will have no mileage or alteration restrictions to worry about. With a car loan, you can borrow up to £25,000 spread over 1 to 7 years.
With a hire purchase agreement, the finance will be secured against the car you buy. This means that you won’t be the official owner of the car until the final payment has been made.
You’ll need to buy your car from a dealership approved by your lender, then they will set up the hire purchase agreement. You may need to pay an initial deposit at the start of your contract. With hire purchase, you can borrow up to £200,000 over terms of 1 to 6 years.
With a car loan, you can borrow from £1,000 to £25,000 over 1 to 7 years.
With hire purchase, you can borrow up to £200,000 over 1 to 6 years.
You won’t need a deposit for a car loan. With hire purchase, you may need a deposit depending on your lender. When you check your car finance options, the details of each car loan or hire purchase agreement offer will be outlined for you.
ClearScore is a trading name of ClearScore Everywhere Limited, authorised and regulated by the Financial Conduct Authority. Address: Vox Studios, 1-45 Durham Street, London, UK SE11 5JH. Registered in England & Wales 06297533. VAT Registration Number 257 0001 44. See www.fca.org.uk. Correspondence address: Dakota House, Concord Business Park, Wythenshawe, Manchester M22 0RR. Calls may be recorded for training and monitoring purposes.