PCP vs HP finance explained - Which is better?

Choosing between Personal Contract Purchase (PCP) or Hire Purchase (HP)? If you're eyeing up a new set of wheels and feeling a bit lost in the finance jargon, don’t worry – we’ve got you. In this video, we break down two of the UK’s most popular car finance options, PCP and HP, using real cars as examples, and zero waffle. What you'll learn: The key differences between PCP and HP Which one ends with full car ownership (and which one doesn’t) Monthly payments, balloon payments, and all the good stuff are explained simply Which option might suit your lifestyle and budget Timestamps: 00:00 Intro 00:19 PCP and HP car finance options 00:57 How does HP finance work? 01:33 How does PCP finance work? 02:23 PCP vs HP: Pros and Cons 03:00 Which is better for you? 03:58 Key takeaways Find out more: https://www.carmoola.co.uk/blog/pcp-v... ------------------------ Try our free car finance calculator: https://carmoola.app.link/pfEQYteekUb Ready to get your dream wheels? Get your budget in 60 seconds on the Carmoola app 👉 https://carmoola.app.link/rzwD59p7Hob ✅ No impact on your credit score to see if you're approved. Representative 13.9% APR (correct at time of posting). Finance is subject to status and is only available to mainland UK residents aged 18 and over with a full driving licence. Acceptance is subject to the vehicle meeting approval criteria. Terms and conditions apply. Borrow responsibly.