Used Car Finance
Zap Loans are a credit broker not a lender. Representative example: borrowing £10,000 over 5 years with a representative APR of 19.1%, an annual interest rate of 19.1% (Fixed) and a deposit of £0.00, the amount payable would be £255.50 per month, with a total cost of credit of £5,329.80 and a total amount payable of £15,329.80
Terms and Conditions:
This example is for a Hire Purchase Agreement.
I confirm that I have read and understand the following, and that in doing so provide permission for ZAP Loans to undertake a credit search and provide my information to their panel of lenders. I understand that this may register as a credit search against my name.
- I have read the Initial disclosure document (IDD) available online
- I consent to a credit search being conducted
- I understand the following
- The credit search relates to a hire purchase product which does not have any mileage restrictions; however, a balloon product is also available – please call to discuss
- Subject to balance financed, the agreement would be protected by the Consumer Credit Act (CCA)
- I tend to be the registered keeper of the vehicle and would hold fully comprehensive motor insurance during the length of the agreement
- I understand that the vehicle is at risk of repossession if the contractual repayments are not maintained
By proceeding to obtain a quote, you confirm that you have independently chosen the appropriate term of agreement , are comfortable with the suggested repayments and agree to the above statements. Copies of the relevant documentation, to include the IDD, Product Explanations and Overview have been provided to your email address in a durable medium
To view our IDD (Initial Disclosure Document) – please visit https://zaploans.co.uk/initial-disclosure-document-idd/
The Benefits of Used Car Finance
Better cash flow – buying a used car outright can create a big dent in your finances, but you can spread the cost with used car finance
Low interest rates – generally, lenders will offer competitive interest rates for used car finance compared to personal loans
Access to quality cars – get a high-quality, reliable used car without the premium price of a new vehicle
Save money with tech – access modern car safety technology and save money with fuel-efficient or electric used cars
Suitable for all budgets – find used car finance deals for all types of used vehicles, from economy to luxury models
Bad credit considered – individuals with bad credit or no credit history may still be considered for used car finance
Types of Finance Available for Used Cars
This is a popular option where you pay an initial deposit followed by fixed monthly payments. The car is yours once all payments are made.
With PCP, you pay lower monthly instalments, and at the end of the term, you can choose to make a final payment to own the car, return it, or trade it in for a new one.
This involves taking out a loan from a bank or lender to pay for the car in full. You then repay the loan in monthly instalments.
Used Car Finance – FAQs
Is hire purchase the right option for my used car?
When it comes to used car finance, hire purchase is one of the most flexible options. Spread the cost and improve your cash flow, while enjoying the security of fixed interest. Hire purchase is generally easy to obtain, even if your credit health isn’t perfect.
