FAQ's

How does car finance work?

Car finance lets you borrow money to buy a new or used vehicle, repaying it through monthly instalments. There are various loan types; "car finance" refers to them all. To choose a deal, decide how much you need, the loan term (usually 1–5 years), and your deposit, which can lower the total amount borrowed. After approval, you'll repay the loan plus interest each month, and in some cases, the loan is secured against the car.

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What are the different types of car finance?

There are two main types of car finance: hire purchase (HP) and personal contract purchase (PCP).
 

Hire Purchase: The loan is secured against the car, which you own only after completing all payments and the ‘Option to Purchase’ fee. A deposit may be required, but there are usually no mileage restrictions.
 

Personal Contract Purchase: Loans are secured against the car, but ownership isn’t guaranteed at the end; you can return the car, use equity for a new deal, or pay a balloon payment to keep it. Monthly payments are often lower than HP, though mileage limits typically apply.
 

Learn more on our finance solutions page
 

How do I choose the right car finance option?

The best car finance option depends on your needs, the vehicle you want, and your intended use. With HP finance, you'll own the car after the loan term but face higher monthly payments and can't sell or swap the car during the agreement. A personal loan gives you full ownership and flexibility, though payments may also be high. PCP typically has the lowest monthly payments but includes mileage limits and does not guarantee ownership at term end. Whatever you choose, Hawkstone Motor Finance will help find the most suitable lender from our panel.
 

What is the cheapest way to finance a car?

The most cost-effective method to finance a car depends on factors such as loan type, loan term, and annual percentage rate (APR). It is important to note that a loan with the lowest monthly payment may not be the least expensive overall, as total interest paid throughout the term could be higher. PCP car finance may result in lower monthly payments than HP or personal loans because you do not borrow the vehicle's full value. Instead, the amount financed reflects the difference between the current price and the estimated value at the end of the agreement, known as the Guaranteed Minimum Future Value (GMFV). However, ownership of the car at the end of the term requires an additional balloon payment.
 

Will applying for finance affect my credit score?

When you apply with Hawkstone Motor Finance, we’ll perform a soft credit check to see if we can get you approved by a lender, which may appear on your credit report but won’t affect your score. A hard credit check, which can impact your score, only happens if we send you to specific lenders, or when you decide to proceed with the finance. We can perform a soft search only to attain a car finance quote if you would like us to do so.
 

Do you have a finance calculator?

Yes. You can use the car finance calculator to estimate your monthly payments based on your desired loan amount, term length, and credit score. Simply enter the registration and mileage of the car you’re interested in, and our car finance calculator will do the rest.
 

How quickly can I get car finance?

With Hawkstone Motor Finance, applicants typically receive a decision within minutes. After submitting an application, if an approval in principle is obtained, an account manager will contact you to confirm your details and discuss subsequent steps.
 

How does the process work?

Fill out our online application form, one of our team will aim to get you an approval, then we will liaise with the supplying dealer to get an invoice, we will send you the agreement to sign, we will pay the supplying dealer, and you can arrange collection or delivery directly with them.
 

Do you work with any dealer?

We will only work with reputable dealers. Our compliance team will complete our mandatory due diligence on the dealer and let you know as soon as possible if we can work with them. If we can’t work with them, we will help you find a similar vehicle at an alternative dealership.
 

What information do I need to apply for finance?

Once you know your desired loan amount or have chosen a car, start your application with a quote. Fill out our online form with personal, employment, income, and vehicle details so we can seek approval in principle from our lenders.
 

What if I've been refused finance elsewhere?

We’re often able to help customers that have been refused elsewhere. If you’ve been refused car finance elsewhere, don’t worry. Some of our lenders specialise in helping people with bad credit, so we’ll work to find a suitable option for you.
 

What shall I do if I can't get car finance?

Contact credit reference agencies to understand what is on your credit profile that has had a negative impact on your ability to get car finance. Equifax and Experian are usually a popular choice amongst consumers. Understanding why you can’t get finance, will give you an idea on how you can improve it in the future.
 

How do you earn money?

We will receive a commission payment from the lender when you enter into an agreement with them. Commission arrangements can be based on a percentage of the balance financed which means we will be paid a commission for introducing you to the lender. This will be a percentage of the amount that you borrow. This means the more you borrow, the more we will be paid. The commission will be the same no matter the interest rate that you pay. We will tell you in good time before the agreement is made the amount of any commission we will earn from the lender. Some lenders opt for a flat fee commission model. We will be paid a commission for introducing you to the lender. This will be a flat fee amount. This means the commission will be the same no matter how much you borrow or the interest rate that you pay. We will tell you in good time before the agreement is made the amount of commission we will earn from the lender. We will not charge you a processing/admin fee for our brokering services.
 

How am I protected?

Hawkstone Farley Group Ltd trading as Hawkstone Motor Finance is authorised and regulated by the Financial Conduct Authority (FCA) with firm reference number 987531, and we comply with all legislation set out by the Financial Conduct Authority.
 

Best place to apply for van finance in Bridgend?

If you’re looking for the best place to apply for van finance in Bridgend, Hawkstone Motor Finance offers a range of competitive van finance options tailored to your budget. Whether you’re a small business or an individual, Hawkstone can help you secure flexible finance solutions with straightforward application processes and quick approvals.
 

Where to find hire purchase options for cars in the UK?

For reliable hire purchase options for cars in the UK, Hawkstone Motor Finance provides transparent HP agreements that make car ownership affordable. With flexible payment plans and a range of vehicles available, Hawkstone is a trusted choice for customers across the UK.
 

Affordable van finance deals in Wales?

Looking for affordable van finance deals in Wales? Hawkstone Motor Finance offers low-rate van finance solutions designed to fit your business or personal needs. With competitive terms and easy application processes, Hawkstone ensures that getting a van in Wales has never been simpler.
 

Where can small businesses get vehicle finance in the UK?

Small businesses across the UK can rely on Hawkstone Motor Finance for tailored vehicle finance solutions. From vans to company cars, Hawkstone offers flexible terms and competitive rates, helping small businesses manage cash flow while expanding their vehicle fleet.
 

Where to find hire purchase options for cars in the UK?

For hire purchase car finance across the UK, Hawkstone Motor Finance is a leading provider. With straightforward HP agreements, clear repayment terms, and a wide selection of cars, Hawkstone makes it easy to finance your next vehicle with confidence.
 

Where to find flexible car finance terms in the UK?

If you want flexible car finance terms in the UK, Hawkstone Motor Finance offers personalised solutions to suit your budget and lifestyle. From varying repayment periods to low deposit options, Hawkstone ensures car finance is accessible and manageable for all customers.
 

Where to get van finance with bad credit in the UK?

Even with bad credit, you can get van finance in the UK through Hawkstone Motor Finance. Hawkstone specializes in helping customers with imperfect credit histories secure affordable van finance, providing a pathway to reliable vehicles without compromising on flexibility.
 

What is personal contract purchase for car finance in the UK?
Personal Contract Purchase (PCP) is a popular way to finance a car in the UK, and Hawkstone Motor Finance offers tailored PCP deals to suit your needs. With lower monthly payments and the option to buy, return, or trade-in your car at the end of the term, Hawkstone makes car ownership flexible and affordable.
 

How does hire purchase work for vehicle finance in Wales?

Hire purchase finance in Wales works by paying for your vehicle in monthly instalments until you own it outright. Hawkstone Motor Finance provides transparent HP agreements, allowing customers in Wales to spread the cost of cars or vans while keeping ownership simple and manageable.
 

Same day car finance approval in Bridgend, Wales?

Need same day car finance approval in Bridgend, Wales? Hawkstone Motor Finance offers fast, hassle-free finance approvals, making it easy to drive away in your next car on the same day you apply. Quick decisions and competitive rates make Hawkstone a top choice in Bridgend.
 

Best PCP deals for cars in Wales?

For the best PCP deals for cars in Wales, Hawkstone Motor Finance offers flexible terms, low monthly payments, and competitive interest rates. Whether you want to upgrade regularly or keep your car long-term, Hawkstone has PCP options that suit every budget.