Not everyone has a spare £5,000 to fork out on a car. Whether you're new to driving, fancy an upgrade, or your old car has seen its final days, car finance can be a convenient option for lots of situations.

Take our quiz to find out which type of finance suits you best.

Question One - After all your monthly payments have been made, do you want to own the car?

Yes - A HP (Hire Purchase) agreement is ideal for people who plan on owning the car at the end of their agreement. The HP option requires an initial deposit, after which a set number of monthly payments will be made to pay off the rest. Once the outstanding amount is all paid off, you get to keep the car. It's important to note here that the car will legally belong to the finance company until you've paid it off.

No - Go to Q2.

Question Two - Are you interested in including car services and repairs in your deal to keep your car running smoothly and safely?

Yes - If you want the peace of mind that comes with regular services and speedy repairs, Personal Contract Hire (PCH) is a good option. Most PCH leasing deals include these services as standard, so you never need to pay any extra for the maintenance of the car. You get no hefty bills, and no unexpected charges. This all-inclusive option will help you budget and keep track of all your car-related costs.

No - Go to Q3

Question Three - Will you put more than 20,000 miles on the clock?

Yes - HP is ideal for drivers who drive long distances and clock up lots of mileage on their cars. Some financial agreements come with a mileage allowance which will limit the amount of miles you are able to drive the car. If you go over the limit, you will be charged extra. With HP, you will own the car once it's paid off, so the finance company will have no say on how much you can drive it.

No – Go to Q4

Question Four - Is keeping the monthly payment low a high priority?

Yes - PCP is ideal for those trying to keep their costs down. It's normally the most affordable out of all the car finance options and there are lots of fantastic deals on a wide range of cars, both new and used! Car dealers are able to keep the costs low on PCP deals because you are not paying for the full value of the car, only the depreciation value. It's therefore a win-win for everybody!

Get in touch with the dedicated GetCarFinanceHere team

To make finance application with the assistance of an experienced team, simply contact GetCarFinanceHere today. Start your application online.

To talk directly with one of our friendly and knowledgeable car finance advisors, give us a call on 0330 057 4085  today.

Or if you are unable to speak to our team over the phone right now, don’t worry as you can also contact GetCarFinanceHere online.