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What is PCP?

PCP, also known as personal Contract Purchase is a finance arrangement where you will usually pay an initial deposit (10%) followed by monthly instalments. Once your agreed contract term has finished you will stop paying intstalments and you will have the option of buying the car if you want to.

What is HP?

HP, also known as Hire Purchase agreement, is a car finance agreement where you will usually pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends and you own the car. HP will be available to most customers, even those with poor credit ratings. This is because the loan is secured against the car and is used as collateral.

What is PCH?

PCH, also known as Personal Contract Hire or car leasing, is essentially a long term car rental agreement where you pay a fixed monthly fee to use the car for an agreed time period. It is exclusively for private individuals and helps combat the problem of depreciation. Though the car is in your possession, it never actually is yours to own.

What is BCH?

BCH, also known as Business Contract Hire is very similar to Personal Contract Hire in the sense that it is a long term car rental agreement. Where a fixed monthly fee is paid to use the car for an agreed time period. The difference here is that it is exclusively for business.

What if i have bad credit?

Not to worry, if you have a poor credit history, you can still apply for car finance. At SWA900 we will look at your personal circumstances, we will require 3 years worth of employment status, address history and details on your income and expenditure, you'll then get your exact intrest rates and payments.

What is APR?

APR, also known as Annual Percentage Rate, is the intrest rate applied to your loan. Essentially its the yearly cost of your borrowing, which you will pay this on top of the sum you applied for.

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