Get your FREE, no obligation trade-in valuation

Valuation Form


The Van Hub can offer a wide range of finance options to suit our customers and aim to help every customer drive away in their ideal vehicle with the best possible finance package in place. We aim to understand your needs as thoroughly as possible and tailor one of our available finance packages or options to suit you or your business.

Our finance packages​ offer a range of advantages over a traditional personal loan, such as lower monthly payments and a shorter term. You can apply for and complete a finance application online, providing an unprecedented level of security and convenience to purchasing your next vehicle. Our finance options are intended to remove any additional hassle from purchasing your next vehicle.

We have a number of different options available to allow you to finance your next vehicle in the way that best suits your individual needs, these include Hire Purchase, Personal Contract Purchase, Lease Purchase and Contract Hire. We can often offer a number of additional benefits or perks to your chosen finance package also, such as nil advance payment and Guaranteed Future Values.

If you have had trouble purchasing a vehicle elsewhere previously or perhaps you have poor credit history, then give us a call to see if we can help. We have great relationships with our finance providers, allowing us to offer flexible finance deals to suit all budgets, often where others may have been unable to help. The vehicle finance options offered by The Van Hub help you to own your next vehicle sooner and often at a lower monthly payment than you may expect.

What is Personal Contract Purchase (PCP)?

Personal Contract Purchase (PCP) is a finance product which normally allows you the opportunity to buy a new or a used car with a lower monthly repayment than if you were to purchase with a hire purchase or loan agreement. This provides you with increased buying power and can put you into a vehicle which perhaps you previously believed would be out of your budget.

It is similar to a Hire Purchase agreement in as much as you will usually pay an initial deposit, followed by monthly instalments over an agreed term typically between 18 to 48 months.

What makes PCP different to Hire Purchase (HP) is that your monthly instalments are paying off only the depreciation of the vehicle rather than its entire value, over the course of the term. When you reach the the end of your agreement, there is a final balloon payment that must be made if you want to keep the vehicle or the vehicle can be returned with no additional costs or payments due. The balloon payment is often referred to also as the Guaranteed Future Value (GFV) and is agreed at the start of the term.

PCP often suits those who wish to change their vehicle every 2-3 years and enjoy the convenience of being able to simply hand the vehicle back at the end of the term.

Van Hub Content Page Body Image 2 Result - Network Fleet Ltd


How does PCP actually work?

When you have chosen your vehicle, you will then agree your annual mileage and decide on the agreement term with one of our Business Managers.

We will then determine the Guaranteed Minimum Future Value (GMFV) of the vehicle at the end of the agreement and work out a deposit and monthly payment that works for you based on the term, GFV & annual mileage.

At the end of your agreement, you will then have three options:

  • Return – Simply return the car back to us
  • Retain – Keep the car by paying the optional final payment
  • Renew – Trade it in for another car

For a quotation, help or advice, please don't hesitate to contact us.

What are the advantages of PCP?

Monthly payments on a car financed by PCP are usually lower than if your car is financed by a Hire Purchase agreement.

If you decide not to buy the car, you can simply walk away when you've made all the payments.

Similar to PCH, you can drive away a new or used car every few years (dependent on the chosen term) without worrying about selling it on.

If your car is worth more than the Guaranteed Future Value, then you can use that equity towards a deposit on a new car.

What should you consider when opting for a PCP?

If you want to buy the car, you will need to pay your final balloon payment (the Guaranteed Future Value).

Similar to PCH, you will need to agree on a mileage allowance at the beginning of your contract and there may be excess mileage charges if you exceed this.

You won’t be able to sell the car without settling the finance.

You won’t own the car until you have made all of your repayments.

You’ll need to keep the car properly insured, maintained and in your possession until the full value is paid off.

Can I settle my PCP agreement early?

You can normally settle your agreement early by asking the finance company to provide you with a settlement figure. However, the finance company will require you to pay off the difference between what your car is worth and what you still owe, and there may be a difference which is known as negative equity.

On the other hand, you may find that at the end of your term your car is worth more than the Guaranteed Future Value, which means you will have some positive equity to contribute towards your next car.​​

What is Hire Purchase (HP)?

Hire Purchase is the more traditional method of financing a new or used car. You will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends and you own the car.

Van Hub Content Page Body Image 1 Result - Network Fleet Ltd


What are the advantages of HP?

You’ll be able to drive away a car without needing to pay the full value outright there and then.

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.

Once you’ve made your final monthly payment, including the option to purchase fee, you'll have full ownership of the car.

What should you consider when opting for HP?

Monthly payments may be higher than some other finance options, such as PCP, as you're paying off the full value of the car.

You won’t be able to sell the car without settling the finance.

You won’t own the car until you have made all of your repayments.

You’ll need to keep the car properly insured, maintained and in your possession until the full value is paid off.

Can I settle my HP agreement early?

The short answer is yes, you can end your finance early. There are different provisions within each finance agreement that allows you to do just that. If you have got through two-thirds of the way through your finance agreement, the options to end the finance agreement early open up.

For a Hire Purchase agreement, there is an option of paying it off early through a settlement fee. A settlement fee covers the cost of any remaining unpaid instalments and interest payments remaining on the agreement. Once the settlement fee is paid, you take full ownership of the car early.

Under a Personal Contract Purchase agreement, you can also pay a settlement fee for bringing the agreement to an end early. After that, you can choose to hand the car back or you have a second option. Through a PCP agreement, you can take full ownership of the car by paying off the remaining Guaranteed Minimum Future Value also known as a balloon payment.

Why Finance Through a Dealership

What is Hire Purchase?

What is Personal Contract Purchase