At Linders, we strive to provide the best quality cars at the best prices. We work hard to provide our customers with great offers, finance options, and competitively priced aftercare. Whether you are looking to purchase a new or used car our dedicated Business Managers are here to ensure you get the best rates and the plan most suited to your individual needs.

Find out more about the different finance options available below or contact us to find out more. You can also start your finance application online here.

What is Hire Purchase?

​Hire Purchase (HP) is a straightforward and affordable way to finance buying a new or used car. With HP you can finance your car over a period of time that you choose, between 1 to 5 years. After placing a deposit, you will pay off the entire value of the car in equal monthly installments. When all the payments are made, the Hire Purchase agreement ends, and you own the car outright.

  • At the end of the repayment period, you will own the car outright
  • Choose the vehicle and the repayment period that is right for you
  • Fixed interest rate for the duration of your agreement, making budgeting easier
  • Unlike a PCP or PCH contract, you won't need to estimate your mileage at the start of your Hire Purchase agreement, so you'll avoid excess mileage charges.
  • Monthly payments may be higher than some other finance options as you are paying off the car's full value.
  • You cannot sell the car without settling the finance
  • The car must be properly insured, maintained and in your possession until the full value is paid off
  • You won’t own the car until all of your repayments have been made.

In short, yes you can end your finance early. Each finance agreement comes with different provisions that allow you to end your HP agreement early with different options and possible fees associated. These will be outlined to you by our Business Manager when drawing up the HP agreement.

What is Personal Contract Purchase?

Personal Contract Purchase (PCP) is a finance product that allows you the opportunity to buy a new or a used car.

PCP is different from HP in that your monthly installments are paying off the depreciation of the vehicles, not its entire value, over the course of the term. When you get to the end of our agreement, there is a final, balloon payment that must be made if you want to keep the car.


When you have chosen the vehicle for you, you will then agree your annual mileage and the terms of the agreement with our Business Manager. They will then determine the Guaranteed Minimum Future Value (GMFV) of the vehicle at the end of the agreement and work out the deposit and monthly repayment amount that will work best for you.
At the end of the agreement you will have three options:

  • 1. Return - simply return the car to us
  • 2. Retain - pay the optional final payment and keep the car
  • 3. Renew - trade it in for another car
  • Lower monthly payments and shorter terms than HP
  • No requirement to purchase the car at the end of the agreement term
  • Upgrade your car every few years without the residual value worries
  • If you want to purchase the car you will need to factor in the final balloon payment
  • You may be charged excess mileage charges if you exceed the mileage allowance agreed upon at the beginning of your contract.
  • You won’t own the car until you have made all the repayments.

Normally it is possible to settle your PCP agreement early, however, you will be required to pay off the difference between what your vehicle is worth and what is still owed and there may be a difference known as negative equity. You may also find at the end of your term that the vehicle is worth more than the Guaranteed Future Value, giving you positive equity to put toward your next vehicle.