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.
“Great service professional&friendly as always this is our 5th car purchase spanning over several years between myself &husband. Thankyou once again ?…”
Julie&Martin - Kingsteignton
“No hard sell at Speedwell. All the staff I dealt with during my purchase were really friendly and helpful , Very polite and knew the product they were selling me ,nothing was to mu…”
Mark J
“Both Richard and Glen were excellent… Exceptional service, great communication, especially considering how far I travelled to view and buy the vehicle! Thanks Rich! Would buy aga…”
Matt
“Helpful and quick to deal with problems. Richard was great, there was a problem on the first test drive but got it fixed asap and did everything to help me get the car sorted and c…”
Hannah Soper
“Friendly service and easy transaction. We are delighted with the service received and the car. No pressure sales just a friendly and helpful salesman who was so easy to deal with. …”
Phillip L
“Glenn was great work with, everything was smooth from start to finish. The SUV was presented to a very high standard and everything was attended to. I had plenty of time to test…”
Mr Matthew C - Kingsteignton
“Hello everyone, I have just purchased a car from Speedwell Online. From buying to actually receiving car was a very pleasant experience.I Dealt with Richard who was professional an…”
Nigel - Exeter
“Polite, helpful and friendly staff perhaps the deal could have been better, very good polite and friendly staff.…”
Anonymous
“Highly recommend they guys at Speedwell Online & the main Honda dealership in Newton Abbot. My wife picked up her CRV today and the service given was unexpected and above our expec…”
Matt Cleaves
“Very professional, only too pleased to be of assistance. Quick and speedy service when trading in and processing new vehicle.…”
Michael H
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.