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What is car credit?
22 July 2021

What is car credit?

Looking for your next used car and wondering what car credit is? Well, let us explain.

Car credit, or car finance, is where you pay a deposit on a car and then, you pay off the balance over an agreed period of months or years. It means that you can drive away sooner, without having to save up for your car beforehand.

While it isn’t right for everyone, there are plenty of benefits that come with it…

It means you don’t have the pressures of saving for the full amount of a car, and it gives you flexibility in what you can afford, in the sense that you budget for the amount per month and you get all the benefits of driving your car! There are also plenty of options to choose from.


This stands for personal contract purchase and it is a popular way to finance a car. You will pay your deposit and start your agreement, and at the end you will have a few options, sun as handing the car back, paying a balloon payment to own the car, or you can use it against your next finance agreement.


Hire purchase is similar to personal contract purchase, apart from, at the end of the agreement, you will own the car.

Bad credit car finance

Bad credit car finance is for those with poor credit ratings or those who have struggled with finance in the past. Specialist lenders work to secure deals to make sure there are options available to customers with poor credit, as well as those with good credit.

We have a sister company in house, Car Credit Now, with experts in car finance, so they will be able to help you with any queries and questions you may have surrounding car finance and car credit. Get in touch or apply online to start your search.