When it comes to actually buying a car, there are a number of ways you can pay for it. Depending on your circumstances, you may be able to buy the car outright. This means you won’t have to make monthly payments and you’ll own the car from the get-go.
There are also flexible finance options available, such as hire purchase (HP) and personal contract purchase (PCP). With an HP agreement you can spread the cost of the car by making monthly payments over an agreed term and once the final payment is made, the car is yours.
A PCP agreement often means you make lower monthly payments and then have options when the agreement comes to an end. You can swap the car for another, hand it back and walk away, or pay what’s called a balloon payment to own the car.
At Cazoo, you can apply for car finance entirely online and get a decision within minutes.
Another option is a car subscription. The cost of road tax, insurance, servicing and breakdown cover is included in your monthly payment and you can tailor a car subscription to suit your needs. You’ll also get to choose from the latest car models. Whether you’ve got your eye on a family hatchback or you’re thinking of making the move to electric, you can pick the perfect car for you.
If you’re completely new to the idea of a car subscription, it’s worth spending some time researching whether it’s right for you and your budget. You can also check out our six reasons to subscribe to your next car.