Why Finance your car?
By choosing to finance your car, you can pay with easy-to-manage low monthly payments.
Learn more about car finance
Below you can find some Frequently Asked Questions about car finance. At Speedwell Online, most finance packages available will be either HP, CS or PCP depending on the age of the vehicle.
Hire Purchase - exactly what it sounds like, a hire agreement which gives you an option to own the car at the end of the agreement. The loan period is fixed typically between 12-60 months, and the finance agreement is secured against the car being bought. On an HP Agreement, you are obliged to purchase the vehicle by paying an Option To Purchase Fee.
Benefits - Quick and easy to arrange in the showroom, flexible terms from 12 months to 60-month agreements. Fixed APR throughout the term and fixed monthly payments. Ability to overpay with no penalties. Low deposit terms at the beginning of the Agreement, Finance Agreements are regulated so customers have Rights and Protection under Law.
Personal Contract Purchase - is a variation of the Hire Purchase agreement, the key difference is that the anticipated value of the car at the end of the contract is calculated at the start of the agreement and this figure is deferred to the end of the agreement. This deferred sum is usually referred to as the Guaranteed Minimum Future Value (GMFV) or optional final payment. The PCP agreement also gives you the flexibility to decide whether you would like to own the car outright at the end of the agreement.
Benefits - PCP Deals have fixed regular payments for easy budgeting, regular payments are reduced because the GMFV is deferred to the end of the agreement. The GMFV protects you against any potential fall in used vehicle values. Flexibility, you choose the deposit, annual mileage and agreement term to suit your needs.
Conditional Sale - is a purchase agreement, similar to Hire Purchase. The key difference between a Hire Purchase and a Conditional Sale is that once all the repayments have been made you commit to becoming the legal owner, there is no option to purchase fee.
Benefits - Quick and easy to arrange in the showroom, flexible terms from 12 months to 60-month agreement. Fixed APR throughout the term and fixed monthly payments. Balloon payments can also be used under Conditional Sale agreements.
Personal Contract Hire - provides hassle-free motoring, you benefit from a low initial outlay, regular rentals and no worries about disposing of your vehicle at the end of the contract.
Benefits - Low initial outlay for easy budgeting. No concerns over the future value of the vehicle. You will not own the vehicle at the end of the term.
“Speedwell online is a great garage, just bought our second car from them, excellent customer service and 12 months warranty.…”
Clive B - Newton Abbot
“Absolutely fabulous service and help through every stage of purchasing my car. Richard just sorted everything and made the whole process quick and easy. Would recommend these peopl…”
Julie - Kingsteignton
“I now add to an existing review which is on this site. Who can you trust when it comes to our car servicing? On February 7th I had the jag serviced and then the MOT. It was a del…”
Roger Hall - Torquay
“Simple quick and polite…”
Roger Cashmore
“ I recently bought a car from speedwell and I cannot fault them. Like a lot of people I don't buy a car very often and one of the scariest parts is having faith in a dealer…”
Mr Douglas Manton - Kingsteignton
“Highly recommended! Excellent service all round from the start, great car, very pleased!…”
C Jenkins - Paignton
“Extremely efficient and a credit to the industry. Had several bad experiences buying cars from the surrounding area. 12th Jan test drove the car. 19th Jan collected it. Noticed fro…”
Paul Towle - Christow
“Today I purchased a used Honda from you, I would just like to express my sincere thanks to David who made the whole experience an absolute joy, you have a great team at Speedwell O…”
Mr Stepney
“Excellent, friendly, polite, professional service of the highest standard During my first contact with Glen at Speedwell Online by phone, his manner was very friendly, helpful and …”
Jeffrey Hunn - Barnstaple
“Fantastic customer service from Richard. Thrilled with my purchase.…”
Susan E
Speedwell Online is a division of Pitten Ltd. Registered in the United Kingdom No. 04905299. Registered Address: Speedwell Kia, The Avenue, Newton Abbot. TQ12 2DD. Vat Reg. No. 831 9635 15.
Accreditation Statement: We are a proud member of The Motor Ombudsman accreditation scheme and are accredited to the CTSI-approved Service and Repair / New and Used Car Code of Practice, ensuring we operate to the highest standards of service and offering peace of mind for customers.
* T&C’s apply. We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase.
Pitten Limited t/a Speedwell Kia Exeter, Speedwell Kia Newton Abbot and Speedwell Online are authorised and regulated by the Financial Conduct Authority for consumer credit activity and our registration number is 04905299. Permitted activities include acting as a credit broker not a lender. We can introduce you to a limited number of finance providers. We do not charge fees for our Consumer Credit services. We typically receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with them, typically either a fixed fee or a fixed percentage of the amount you borrow. The payment we receive may vary between finance providers and product types. The payment received does not impact the finance rate offered. All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over, Guarantees may be required.