The REAL COST of CAR FINANCE - PCP vs HP vs Leasing vs Bank Loans

The Real Cost of UK Car Finance. UK Car Finance Explained. We look at PCP vs HP vs Leasing vs Bank Loans as ways of financing a new or used car in the UK. Which is best for you and what is a rip-off? We also look at leasing vs PCH - what makes them different and which one offers the best value.

We look at Leasing vs Buying and the various finance options available to you. PCP deals are the most popular at the moment but they often serve the car dealers better than they serve you, we look at all the options to help you make a more informed decision and get the most value from your money when buying a new car or decent used car.

Remember that the PCP deal we are showing only finances less than half of the cost of the car so it looks a lot cheaper than the loans or HP - you will still probably need to finance the balloon payment if you want to keep the car so would need additional finance which would make it a fair bit more expensive than the other options.

I hope you enjoy it, please leave your feedback and comments below. We will be doing lots more content on car buying tips, great new and used deals and of course more on car leasing deals during 2021.

By the way, this video is made with the big assumption that you have a good credit history and can get finance from the main providers without any trouble.

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UK Car Leasing Explained Video: https://youtu.be/kXcXvYvzPIc

00:00 Intro
02:20 PCH (Car Leasing)
05:38 PCP (Personal Contract Purchase)
08:00 Hire Purchase (HP)
08:50 Bank Loan
10:20 Cash Purchase
11:08 Mortgage
12:06 New Car Finance Examples
17:42 Used Car Finance Examples
20:23 Summary
22:22 Gap Insurance
24:20 I'm Definitely Not a Guru!
25:50 Outro

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