Used Car Finance

Financing a car can be beneficial for some circumstances: You can split the cost of your new car into affordable monthly payments It is not essential for you to put down any money for a deposit and you have flexibility to choose how much you wish to put down. If you apply with Vizion Finance, you can relax knowing we will handle the bulk of the work for you!

We work with a panel of trusted lenders who offer a variety of finance products. Amongst these are two main variants: Hire Purchase (HP) and Personal Contract Purchase (PCP). Hire Purchase With Hire Purchase (HP), the loan is secured against the Used Car, and you don't own it until you've reached the end of your agreement and paid the 'Option to Purchase' fee. A deposit may be needed but there would typically be no annual mileage restrictions. Personal Contract Purchase Personal Contract Purchase (PCP) loans are also secured against the Used Car, but you don't automatically own the motorhome when the loan term ends. Instead, you can choose to (1) give it back, (2) use any positive equity as a deposit in a new deal, or (3) buy the Used Car by paying the balloon payment. Monthly payments can be lower than with HP motorhome finance, but you may have to agree to annual mileage restrictions. Personal Car Loan With a personal car loan, you receive the full amount in one go so to buy the car outright. You'll then pay back the loan in fixed monthly instalments. Monthly payments can be higher than other forms of finance, but you won't have to face any restrictions and can sell the car before the end of your loan term if you wish.

There are a few steps which we can strongly recommend that will increase your chances of securing a car finance deal: Checking your credit score By checking your credit score regularly you can ensure that you have an idea of what your credit status is like, identify any mistakes or errors and work on areas that can be improved. There are many ways in which you can improve your credit score, such as using credit cards and registering on the electoral roll (see below). Prepare your proof of income If you’re in employment you’ll likely have payslips, otherwise you’ll need to provide 3 months minimum of bank statements. It can be helpful to clean up your bank statements, remove any non-essential subscriptions, evaluate if there are any outgoings that can be stopped. If your income is arriving in multiple instalments, ensure you label and identify these accordingly or try to merge them into one payment for ease. Register on the electoral roll It’s free and allows you to confirm your name and address online. It is one of the first things that lenders look at when evaluating your finance application and will help you gain approval for a finance product. Increase your deposit Putting down a larger payment upfront may reduce the amount you need to borrow making it more likely for lenders to approve your application.

Get a free no-obligation quote by filling in our quote form. If you’ll be approved in theory by one of our panel lenders, we will reach out with your offers and explain what you have available. We will be able to answer any questions you may have and we will leave you to find your perfect car (or you might already have one in mind!). You can search our vehicle stock or let us know about a car you have found elsewhere. Use our calculator to find out how much you could afford to repay monthly.