Harlow Disclaimer
© Ken Brown Motors (Harlow), 44 - 46 Potter Street, Harlow, United Kingdom, CM17 9AQ is a subsidiary of Safeway Cars Limited t/a Ken Brown Motors (Harlow) Registered in England and Wales No. 1526461. VAT registration number GB215810685.
All photographs are for illustrative purposes only and may not depict the actual car. Specifications, mileage and prices are subject to change, please contact us to confirm before travelling or a purchase is agreed.
Safeway Cars Limited t/a Ken Brown Motors (Harlow) is authorised and regulated by the Financial Conduct Authority for consumer credit activity and our registration number is 679900. We act as an independent credit intermediary and we work with a number of carefully selected credit providers who may be able to off you finance for your purchase. We will receive a commission for the introduction.
Stevenage Disclaimer
© Ken Brown Motors. Ken Brown Motors (Stevenage) is a subsidiary of Safeway Cars Ltd T/A Ken Brown Motors, Potters Street, Harlow, Essex, CM17 9AQ. Registered in England and Wales No. 01526461. VAT registration number GB215810685.
All photographs are for illustrative purposes only and may not depict the actual car. Specifications, mileage and prices are subject to change, please contact us to confirm before travelling or a purchase is agreed.
Safeway Cars Limited t/a Ken Brown Kia is authorised and regulated by the Financial Conduct Authority for consumer credit activity and our registration number is 679900. We act as an independent credit intermediary and we work with a number of carefully selected credit providers who may be able to off you finance for your purchase. We will receive a commission for the introduction.
Richmond Disclaimer
© Ken Brown Motors. Ken Brown Motors (Richmond), 1-5 North Road, Richmond, United Kingdom, TW9 4HA and is a subsidiary of Shephall Way Service Station Ltd T/A Ken Brown Motors Shephall Way, Stevenage, Hertfordshire, SG2 9RW. Registered in England and Wales No. 1522824. VAT registration number GB322390191.
All photographs are for illustrative purposes only and may not depict the actual car. Specifications, mileage and prices are subject to change, please contact us to confirm before travelling or a purchase is agreed.
Shephall Way Service Station Limited t/a Ken Brown Richmond is authorised and regulated by the Financial Conduct Authority for consumer credit activity and our registration number is 684922. We act as an independent credit intermediary and we work with a number of carefully selected credit providers who may be able to off you finance for your purchase. We will receive a commission for the introduction.
Letchworth Disclaimer
© Ken Brown Motors. Ken Brown Motors (Letchworth), Icknield Way, Letchworth Garden City SG6 1EX and is a subsidiary of Shephall Way Service Station Ltd T/A Ken Brown Motors Shephall Way, Stevenage, Hertfordshire, SG2 9RW. Registered in England and Wales No. 1522824. VAT registration number GB322390191.
All photographs are for illustrative purposes only and may not depict the actual car. Specifications, mileage and prices are subject to change, please contact us to confirm before travelling or a purchase is agreed.
Shephall Way Service Station Limited T/A Ken Brown Letchworth is authorised and regulated by the Financial Conduct Authority for consumer credit activity and our registration number is 684922. We act as an independent credit intermediary and we work with a number of carefully selected credit providers who may be able to off you finance for your purchase. We will receive a commission for the introduction.
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FAQs
Conditional Sale (CS) is a type of car finance that means you legally own the car once you make your final payment. During the agreement, you'll be the car's registered keeper. This means you'll be responsible for maintaining and servicing the car, but with full use of the car with no mileage restrictions.
What is the difference between CS finance and PCP finance? ›
PCP finance deals need monthly payments that are equal to the depreciation of the car and not the full value, with the optional balloon payment at the end to own the car. As CS finance has you paying for the full value of the car, your monthly payments will be higher.
What is the difference between PCP and PCH? ›
PCP is a purchase plan, customers have the option to buy the car at end of the contract. PCH is a hire plan that can offer attractive monthly payments but you do not own the car at the end of the agreement. If you're in the market for a new car, you might be starting to research which finance option is best for you.
What are the negatives of PCP? ›
Disadvantages of PCP
- The balloon payment can be expensive. ...
- You will be charged for damage that falls outside fair wear and tear. ...
- If your credit score is low, you'll be charged a high interest rate. ...
- You'll be charged if you exceed your mileage allowance. ...
- If you cancel your contract early it might be expensive.
Conditional Sale (CS)
Select a term and make regular monthly repayments to repay the balance, it's that simple. As your interest rate is fixed, you have a guaranteed monthly payment, allowing you to budget with confidence. Once all the monthly repayments have been made, you will own the car.
What is a CP in car finance? ›
A contract purchase, or CP, is essentially where a company pays monthly payments for a set period of time. At the end of the agreement, you have three options; Part exchange the car and use the equity towards a deposit for your next car. Buy the car for a pre-agreed amount.
Is CS better than PCP? ›
PCP typically offers lower monthly payments, but at the end of the agreement, you have the option to return the car, purchase it outright (with a balloon payment), or part-exchange it for a new vehicle. With CS finance, you will own the car at the end of the term without having to make a large final payment.
Is PCP a good option? ›
So, should I avoid PCP deals? Not at all. They can work really well for many buyers, and in particular are a great way to protect yourself against unexpected depreciation as you'll have agreed at the start with the dealer what the car will be worth in three years' time.
What is better PCP or HP finance? ›
Key differences between HP and PCP
PCP often offers lower monthly payments and a variety of choices at the end of the agreement, but it may come with mileage limitations and potential extra costs for wear and tear. On the other hand, HP is a straight road to ownership without the surprise of a final balloon payment.
What does PCH stand for cars? ›
Personal Contract Hire (PCH) leasing allows you to drive a new car every few years, with relatively low monthly payments and no worries about the car's resale value.
The benefits of PCH include:
Fixed monthly payments for the entire contract – typically lower than those for a personal loan. Flexibility of meeting your specific financial requirements and driving habits. You can include the maintenance cost of your vehicle within your monthly payments.
Is PCP the same as PCH? ›
PCP works like a long-term rental agreement and also gives the opportunity to purchase the vehicle outright via a 'balloon' payment at the end of the agreement. Personal Contract Hire, or 'PCH', is industry-speak for a lease agreement and it's more simple than PCP.
Why avoid PCP? ›
Extra PCP charges that can catch you out
If the value of the car has reduced enough, you could be left with a smaller balloon payment or even some cash in credit from your payments to put towards a new deposit. However you might be stung by other charges at the end of your deal.
Can you pay off PCP early? ›
If you want to pay off a PCP early, you can do so by asking the car finance provider for a settlement figure. If you pay this, you should be able to end the agreement early and you then become the car's legal owner. You then have a choice of either keeping the car or selling it.
Why is PCP more expensive? ›
Generally speaking, PCP costs more over the course of a contract when compared with leasing. This is because there's extra flexibility involved with the former, such as no-deposit deals, new and used cars available and, of course, the ability to own the vehicle for a one-off balloon payment.
What does Cs mean in banking? ›
Understanding the 5 Cs of Credit
Each lender has its own method for analyzing a borrower's creditworthiness. Most lenders use the five Cs—character, capacity, capital, collateral, and conditions—when analyzing individual or business credit applications.
Can you pay off Cs early? ›
Conditional sale definition
At the end of your agreement, there's no additional fees and the car is yours. Plus you also have the flexibility to pay off the total amount early if your circ*mstances change.
What are the Cs of credit risk? ›
Key Takeaways. The five Cs of credit are character, capacity, capital, collateral, and conditions. The five Cs of credit are a crucial framework used by lenders to assess the creditworthiness of potential borrowers. The 5 Cs of credit remain fundamental in evaluating credit risks.
What does Cs stand for in mortgage? ›
Credit, Capacity, Capitol, and Collaterals are the four important Cs in the mortgage world and the most looked-at factors by banks when it comes to loan approval. So, what do each of the 4Cs mean, and why are they so important?
