Personal Contract Purchase is a popular way to enjoy driving a new car with lower monthly payments. You pay a deposit, make fixed monthly payments, and then choose what to do at the end. The payments cover the car’s depreciation rather than its full value.

Your plan has three parts: an initial deposit, monthly payments for 2 to 4 years, and a final optional balloon payment. At the end, you can pay the balloon to keep the car, return it, or use any equity towards your next Geely.

Pros

• Lower monthly payments
• Three options at the end
• Often includes dealer offers or 0% finance
• Fixed predictable costs

Cons

• Mileage limits and excess charges
• You do not own the car during the agreement
• Charges for excess wear and tear
• Servicing must follow main dealer rules

This option is a good choice if you want lower monthly payments with flexibility at the end. It suits those who like to change cars every few years or who are unsure whether to keep the vehicle.

Personal Contract Hire is leasing a car for an agreed time and returning it at the end. There is no option to buy. Businesses often choose it for VAT benefits, but private drivers can also lease with VAT at 20 percent.

You pay an initial amount equal to 3 to 12 monthly payments, then continue paying monthly for 2 to 4 years. At the end, you simply return the car in good condition with all documents. Credit checks are often less strict than other types of finance.

Pros

• Lowest monthly payments
• No risk of depreciation
• Servicing can be included
• Simple and easy

Cons

• No option to own the car
• Strict rules on mileage and condition
• Usually only available on new cars
• Costly to end early

This option is ideal if you want the lowest possible monthly payments and enjoy driving new cars regularly. It is perfect if you are not concerned about ownership and want predictable costs.

Hire Purchase is a straightforward way to buy a car through regular monthly payments. You pay a deposit, then monthly payments over 1 to 4 years, followed by a small final fee. Once complete, the car is yours.

After your deposit, payments cover the remaining car value plus interest. Unlike Personal Contract Purchase, you are paying off the full value, not just depreciation. The car is legally yours once the final fee is paid.

Pros

• You own the car at the end
• No mileage limits
• Works for used cars as well
• No large final payment

Cons

• Higher monthly payments than leasing
• Higher overall interest costs
• Not suitable if you will not keep the car
• May need a larger deposit

Hire Purchase is best if you want to own your car and prefer steady monthly payments without a large balloon at the end. It is well suited for high mileage drivers and buyers of used cars.

Conditional Sale is a loan designed for buying a car with monthly payments. The finance company buys the car, and you repay its value plus interest. Once the final payment is made, the car is yours with no extra fees.

You pay a deposit and then monthly payments for the car’s full value plus interest. There are no final fees, and ownership is guaranteed once the agreement is complete.

Pros

• No fees at the end
• Flexible deposit and term options
• No mileage or condition restrictions
• Ownership is guaranteed

Cons

• Higher monthly payments than leasing
• Cannot modify the car until fully paid
• No option to return the car

Conditional Sale suits drivers who are certain they want to own their car without final fees or surprises. It is a good option if you want flexibility in deposit and term length while ensuring ownership.