Car Finance Frequently Asked Questions

We are car finance specialists with a wealth of experience in helping customers secure tailored credit agreements on used cars Milton Keynes and used cars Aylesbury. If you are considering financing a vehicle in stock at our used car supermarket, and you have some queries before you apply, you may be able to find the answer below!

What's HP & PCP?

HP stands for Hire Purchase and PCP stands for Personal Contract Purchase, and these are the two main types of car finance agreement.

HP finance enables you to divide the cost of your car into monthly payments and at the end of your agreement, you will become the vehicle owner. With PCP finance, you will only pay for the vehicle's depreciation in value while in your possession and at the end of the agreement, you will return the car or make a balloon payment to keep it.

What's APR?

APR stands for Annual Percentage Rate. It includes the interest rate and all additional charges offered by finance providers.

What's the difference between hard search and soft search?

A soft credit search involves a simple background check which won't affect your credit score, whereas a more intensive hard search will show up on your credit record and may affect your score.

What paperwork do I need?

To apply for used car finance, you will need your driving licence and you may be asked for proof of address and income.

How do I apply for car finance?

To apply for car finance, find the vehicle you want from the range of used cars in Milton Keynes on our website and click the ""apply for finance' button. Then complete the online application form and we'll be in touch with your tailored offers.

How does it work?

Once your application has been accepted, you will be able to define the terms of your agreement, including your deposit and the contract length which will affect your monthly payment amount.

Can I get car finance with a poor credit rating?

There are finance providers who specialise in bad credit car finance, so if you have a poor credit score, you may still be accepted. At Hilton Car Supermarket, we work with a range of lenders to give you the best possible chance of being accepted for car finance Milton Keynes.