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- Zero deposit available
- Finance rates from 9.9%
- 96% finance acceptance rate
- Varied panel of lenders to cater for everyone.
How does financing a car work?
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Take a look at our car finance calculator for a quote based on either HP or PCP plans. -
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Apply online and we'll find you the best deal with our finance lenders. -
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Confirm your offer and pay your deposit then choose to collect or have your car delivered.
Applying For Car Finance
Worried about car finance? Not sure what you can afford or what options are out there? If you’ve got your eye on a certain vehicle, the next step is considering how you’re going to fund it. If you can’t afford an outright payment, don’t worry. At Peter Vardy, we’ve got you covered and have partnered with CarMoney to give you access to over 28 different finance providers to ensure we find a car finance deal and lender that’s right for you.
Whether you’re buying an electric car or simply want to know how much you can borrow for a new or used car, apply for car finance online today and spread the cost of your car over a personal payment plan.
Our finance lenders
Car finance plans to suit your budget
Find your perfect car with a realistic budget and repayment plan. Choose from the popular Hire Purchase (HP) and Personal Contract Hire (PCP) finance options below:
Hire Purchase (HP)
This car finance plan is a popular option where you hire your vehicle from a finance company with monthly payments over a set period of time. At the end of the agreement when you’ve paid your final payment, you own the car outright. With hire purchase, the cost of the car is spread out, however, you will be making higher payments than with a personal contract purchase (PCP).
Hire purchase will be more suitable for you if you don’t want limits on mileage and want to own the car at the contract.
Personal Contract Purchase (PCP)
Personal Contract Purchase (PCP) is a popular method of financing a car. Usually an initial deposit is paid, followed by fixed monthly instalments - the contract length and annual mileage can be determined at initial negotiations but can be adjusted throughout the contract.
With this option, after paying monthly payments over a set period of time you could make a larger final payment if you wanted to own the car. If you didn’t want to own it outright, you could part exchange it for a new car loan.
This plan would be more suitable for you if you’d prefer to change your car when the loan is up or if you’re uncertain whether you’d like to own it.
How to apply for car finance online
Check if you’re eligible
Select the right amount of money you would like to borrow based on affordability and see how likely it is that your application will be accepted before applying.
Apply for car finance online
When applying for car finance with Peter Vardy, you’ll need all of the following information so our lending partners can assess your eligibility. This will help us verify that it is you who is applying as well as carry out credit checks based on your information.
- Driving license with the correct address
- Personal information
- The deposit you’ve chosen to put down
Car Finance FAQs
Do you have to have a job to get car finance?
Getting a car on finance without employment is possible if you meet certain conditions, it may however be harder. Having an employment history will certainly help in your chances of being approved.
How long does a car finance application take?
The initial finance application can take place in several minutes. At Peter Vardy, we aim to have your finance approval secured on the same day.
What checks are done for car finance?
There are several checks that our finance lenders will carry out, including:
- Proof of identity
- Address and address history
- Proof of income and outgoings
- Credit score
What is a credit score?
A credit score gives you an indication of how companies view you when applying for credit. A score is a 3-figure number, ranging from an "Excellent" to a "Very Poor". A higher score would increase the chances of acceptance. Lenders calculate credit scores differently, and lender criteria may vary. However, the same rule applies across all lenders: a higher score increases the likelihood of acceptance and a better finance rate.
What is a soft credit search?
A soft credit search can be conducted prior to the completion of your application process. A soft search filters out lenders you are unlikely to be accepted for, whilst listing probable lenders and determining allowances. To reduce the chances of affecting your credit score, you should undertake a soft credit search before a hard credit search, which can negatively impact your score if rejected. Whilst a soft credit search is not a guarantee of acceptance, it will provide a good indication of likelihood.
Will applying for finance affect my credit score?
Finance applications are assessed through a hard credit check which will be present on your file for 12 months. Hard checks can affect your credit score, especially if you’ve applied for several credit products in a short space of time.
We recommend reviewing your credit score before you apply for car finance.
How long does car finance take to be approved?
We know coming face to face with your dream car is exciting, and luckily you don't have to wait too long for a response to your application. Usually, it takes up to 2 working days for a car finance application to be reviewed and accepted.
Can I get declined for car finance?
It is possible to get declined for car finance, in this instance the lender can refuse you finance. Customers might feel more comfortable undergoing a soft search before applying for finance, to reduce the chances of a declined application and further negatively impacting your credit score. Check out our guide on best practices to improve your credit score.
What is a guarantor?
Lenders will frequently request a guarantor to protect themselves if you fail to make your monthly payments. A guarantor is usually a family member or friend who agrees to pay the remainder of the loan.
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