You can check the affordability of the monthly repayments by finding out how much you’ll be paying using our calculator. If you fail to make the repayments, the car may be seized by the finance company and have a negative impact on your chances of getting credit in the future. When taking out finance, it is important to make sure that you can afford the monthly repayments. Things to consider when taking out car finance This means that you will own the car straight away, whereas if you opted for Hire Purchase finance, you don’t own the car until you’ve made all monthly payments and paid the ‘option to purchase’ fee. You will then use the funds from the loan and any savings you have to buy the car outright. You will need to get approved for a loan and will get the cash in your bank. Hire purchase and a personal bank loan are essentially the same in terms of how the payments are structured. The monthly costs are generally higher than if you choose PCP, however, you will own the car at the end of the agreement for a nominal fee. Instead, you will usually pay a deposit, followed by regular monthly payments and a small ‘option to purchase’ fee at the end of the agreement. Hire purchase is similar to PCP, but without the balloon payment at the end of the agreement. At the end of the contract, you will have the chance to either return the car to the finance company, pay the balloon payment (GFV) to purchase the car or use the equity in the vehicle towards another car if you’re part exchanging. Personal contract purchase usually requires the buyer to pay a deposit, followed by regular monthly payments for the duration of the finance agreement. If you have no interest in owning a car at the end of a finance agreement, you may instead want to explore personal car leasing (PCH). If you’re looking at financing a car with the view to own the car or have the option to buy the car at the end of the agreement, the most popular options are PCP, HP or a personal loan. There are a couple of main car financing options. There’s a lot to consider when you’re buying a car and unless you’re buying a car with cash, one of the biggest choices to make is which of the available car finance options to choose from. What are the different types of car finance? Reducing the length of the loan will increase your monthly repayments but lower the total amount you repay over the course of the finance agreement. Once you’ve entered all of the required details, we will calculate your monthly repayments, the total amount you’re borrowing and the total amount repayable, including the interest. Where you are calculating the cost of a PCP agreement, you will also need to enter the amount of the balloon payment, which is also known as the GMFV (Guaranteed Minimum Future Value) or option to purchase fee. If you are taking out a PCP or HP agreement, you will need to enter your deposit, including any dealer contribution. Regardless of the type of finance you choose, you will need to select how much you want to borrow, select the term of the loan and the APR. Our car finance calculator allows you to choose from any of these options to see what your repayment plan would look like. The mapping on this website is provided by external mapping providers and is for general information purposes only.There are various ways to finance a car, with the most popular options being PCP, HP, or taking out a personal loan. Please contact your local authorized Jaguar Retailer for availability and prices. Some vehicles are shown with optional equipment and retailer-fit accessories that may not be available in all markets. The information, specification, engines and colors on this website are based on European specifications and may vary from market to market and are subject to change without notice. Some features may vary between optional and standard for different model year vehicles. Jaguar Land Rover Limited is constantly seeking ways to improve the specification, design and production of its vehicles, parts, options and/or accessories and alterations take place continually, and we reserve the right to make changes without notice. Please contact your local authorized Jaguar Retailer for detailed specifications. This is a very dynamic situation, and as a result imagery used within the website at present may not fully reflect current specifications for features, options, trim and color schemes. The global shortages of semiconductors and other materials are currently affecting vehicle build specifications, option availability, and build timings. Important note on imagery & specifications. © 2023 Jaguar Land Rover North America, LLC
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