Car Finance Products.
Car finance should be clear, not confusing. At Jigsaw Finance, we make it easy to understand your options and choose what works best for you.
We work with a trusted panel of lenders and manage the full process on your behalf, so you can focus on finding the right car with confidence. Below you’ll find the most common types of car finance we can arrange. Each one has its own advantages depending on your circumstances, budget, and how long you plan to keep the car.
Personal Contract Purchase (PCP)
A Personal Contract Purchase (PCP) is a loan secured against the vehicle, where repayments are based on part of the value of the vehicle.
The finance company guarantees the minimum the vehicle will be worth at the end of the agreement known as the Guaranteed Minimum Future Value (GMFV) or Optional Final Payment (OFP). This is offset until the end of the agreement. PCP’s can run from 2 to 4 years and repayments are determined by the size of the deposit, how many miles you intend to do and the length of the agreement. Full description.
Hire Purchase (HP)
Hire Purchase (HP) is a hiring agreement between you and the finance company.
The loan is secured against the vehicle over a set period between 1 and 5 years, with fixed monthly repayments including interest.
During or at the end of agreement (if the balance has been paid in full), you have the option to own the vehicle by paying an additional sum called the Option to Purchase Fee, you will then own the title to the car and become the legal owner. Full description.
Conditional Sale (CS)
A Conditional Sale (CS) agreement is similar to Hire Purchase (HP). You do not own the car until you have paid off the agreement.
The key difference between a CS and HP agreement is that you will become the legal owner of the vehicle, once all repayments have been made to the lender, where as on HP there will be an option to purchase fee at the end of the contract before you legally own the vehicle. Full description.
Lease Purchase (LP)
On a Lease Purchase (LP) an amount of the total cost of the vehicle will be deferred (estimated future resale value/ residual value) until the end of the agreement. Your monthly payments will be based on the total cost less the deferred amount. The deferred payment must be paid at the end of the agreement to own the vehicle.
On a LP agreement the deferred element (residual value/final payment) is estimated based on the vehicle usage, meaning the vehicle could be worth less than the lenders estimation which could result in negative equity. Full description.
Contract Hire (Personal or Business)
Personal Contract Hire (PCH) or Business Contract Hire (BCH) allows you (the lessee) to choose the vehicle you want, use it for a set period of time and then give it back to the leasing company (the lessor) at the end of the period of hire. You will pay a fixed monthly rental payment for a fixed period of time, this is based on a fixed annual agreed mileage.
Some PCH and BCH agreements include Annual Vehicle Excise Duty (road tax). Service and maintenance plans are optional but can also be added to the contract.
You are not responsible for the disposal or sale price of the vehicle at the end of the contract. Full description.
Our Role as a Broker
Jigsaw Finance is a credit broker, not a lender.
We work with a panel of lenders to offer you finance options that best fit your situation based on your personal circumstances and affordability. We do not charge you a fee for using our service, but we may receive a commission from the lender if you go ahead with an agreement.
We’ll explain how the commission works before you proceed, ensuring everything is transparent and clear. Our service is non-advised, which means we’ll explain each product and its key features so that you can decide which option is right for you.
All finance is subject to status and affordability checks. Terms and conditions apply.
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