Used cars on finance
PCP, HP and personal lease from verified UK dealers. Every car DVLA-checked.
Used cars on finance let UK buyers spread the cost across 24-60 months via PCP (personal contract purchase, with a balloon final payment), HP (hire purchase, owned at the end) or personal lease. Monthly cost depends on deposit, term and APR — typical APR on used-car finance ranges from 7% to 14% depending on credit profile and lender.
Used-car finance has been the single biggest change in how UK buyers actually pay for cars since 2018. Around 90% of new cars and a growing share of used cars are bought on PCP, HP or lease finance. WheelsAI surfaces every listing where the dealer offers finance — most do, on most stock above £4,000.
Whichever finance route you take, the headline £/month is only one of the three numbers that matter. The other two are total cost over the term (deposit + monthly payments + balloon if PCP) and APR. WheelsAI lets you compare like-for-like across listings, with a live valuation so you can see if the dealer's headline £/month is built on a competitive price or a stretched one.
2 matching listings from £6,995.
Frequently asked questions
What is the typical APR on used-car finance in 2026?
7-14% APR depending on credit profile, lender and term. Sub-prime lenders run 18-30% APR — these are flagged as 'specialist finance' and almost always cost more in total than buying outright if you can afford to wait and save the deposit.
What's the difference between PCP and HP?
HP (hire purchase) spreads the full purchase price over the term — at the end you own the car. PCP (personal contract purchase) is structured around a balloon payment at the end equal to the predicted residual value; monthly payments are lower because you're only financing the depreciation, but you don't own the car unless you settle the balloon.
Do I need a deposit?
Usually yes — 10% is common, though zero-deposit deals exist on some stock. A larger deposit reduces monthly cost and total interest paid. Most lenders cap the deposit at 30% to keep some financial commitment in the deal.