Choose Your Finance Options

Vehicle Finance Today

Vehicle Finance Today is a credit broker, not a lender. Our rates start from 7.9% APR. The rate you are offered will depend on your individual circumstances. Representative Example: Borrowing £6,500 over 48 months with a representative APR of 19.8%, the amount payable would be £191.62 a month, with a total cost of credit of £2,697.76  and a total amount payable of £9197.76. We are located at Bourne House, 23 Hinton Road, Bournemouth, BH21EF.

How Does Van Financing Work With
Vehicle Finance Today?

How Does Used Vehicle Financing Work With Vehicle Finance Today?

It may come as a surprise to learn that you can take out vehicle finance on a used vehicle! But in the UK, around 1.5 million used vehicles are bought on finance a year. Here at Vehicle Finance Today, we’ve made this process as streamlined as possible, and can help you buy a used vehicle through a number of financing options.

Our online application is short and straightforward, and you’ll be provided with a quick loan decision. We’ll search for a suitable finance provider for you from our network of lenders, and will do our best to find a solution that suits you. And if you have a poor credit rating, rest assured that many of our lenders will still consider your application. They’ll take more than just your credit score into account, looking at things like your income and employment history too.

After approval, you can choose a second-hand vehicle from any reputable dealer. Then just sign the paperwork, which will outline your monthly payments and other terms, and drive away in your new vehicle!


Vehicle Finance

Vehicle Finance
Types of Used Vehicle Finance Available

We offer a variety of vehicle finance arrangements, including the most popular ones below:

There are two main types of used vehicle finance to choose from – personal contract purchase and hire purchase. Both are types of secured loan, which means your vehicle acts as collateral against the loan – we’ve expanded a little bit more on these below!

You may also wish to look into a personal loan, in order to buy a second-hand vehicle outright. You’d then make monthly payments directly into your lender. The main drawback of a personal loan though is that because it’s unsecured, the interest rates can be higher, and you may need to have a good credit rating to be approved.

Personal Contract Purchase (PCP) – When it comes to PCP, you’d typically pay a deposit, and then make monthly payments towards the depreciation of the vehicle. This is the difference in price between the initial cost of the vehicle, and the estimated value at the end of the term. With a second-hand vehicle, this may not be as high a figure as a new vehicle, so PCP can work out to be a relatively cheap option. Once your agreement comes to an end, you can then choose to make a balloon payment, in order to buy the vehicle outright.

Hire Purchase (HP) – As with PCP, with a hire purchase agreement, you’d generally make a deposit at the start of the loan, and then make regular instalments moving forward. But rather than contributing towards the depreciation of the vehicle, you’d be simply paying off the cost of the vehicle. So when your loan finishes, you’ll own the vehicle.

Vehicle Finance
What Types of Used Vehicles Can I Get a Loan For?

In terms of what used vehicles you can take out on finance, the list is pretty much endless! As long as you go through a reputable dealer, anywhere in the UK, you should be able to apply for a vehicle loan. So whether you’re looking for a flashy sports vehicle that’ll make all your friends jealous, or a spacious SUV for the family, we’ll do our best to put you in touch with a suitable lender.

What Types of Used Vehicles Can I Get a Loan For?
  • Don’t Rush Into It: While you may want your new vehicle as soon as possible, it’s a good idea to be cautious when dealing with used vehicles. Make sure you’re completely happy with the vehicle before buying, as your finance agreement is likely to be over at least a few years.
  • Know Your Budget: Before purchasing a used vehicle, it’s important to go through your budget carefully to work out what you can afford. This won’t just include the monthly instalments either – you’ll also need to factor in the running costs, such as insurance and road tax. Find out more by using our handy vehicle finance calculator!

Check Your Credit Score: While it’s possible to get a vehicle loan with a bad credit history, you may be able to boost your credit rating and improve the offered rates. That’s why it’s sensible to look at your credit file and see if these credit improving tips can help!