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Used Car Finance

We offer a number of different financing options here at Drayton Motors and select the very best lenders to work with in order to get you the best deal. Please see below for the different types of financing that could benefit you.

PCP A Personal Contract Purchase, or PCP as it is more commonly known, is a purchase agreement where a predicted minimum future value is offset until the end of the agreement – this is called a Guaranteed Minimum Future Value (GMFV).

The customer usually puts down a deposit at the beginning of the agreement, pays regular monthly instalments over the agreed time and at the end has three options; Keep, Hand-back or Part exchange. If the customer wants to keep the vehicle then they pay the GMFV (either in full or refinanced) and ownership is transferred to the customer. If the vehicle is worth less than the GMFV for any reason, the customer can hand the car back and walk away subject to mileage and conditions.

The most popular option is to Part Exchange the vehicle and use any equity over the GMFV as a deposit towards their next finance agreement.

Conditional Sale Conditional Sale is a purchase agreement between the finance company and the customer, where the customer will automatically own the vehicle after all the repayments have been made. An optional deposit can be paid and then regular, fixed repayments will be paid for the duration of the agreement.

Unlike a PCP contract, there are no mileage restrictions on a Conditional Sale agreement however the vehicle must be kept in a reasonable condition for the duration of the agreement, as well as being comprehensively insured.

If you’re still unsure, or would like to hear more about the options available to you then please do contact one of our knowledgeable Sales Executives for more details or a quote.


  • Drayton Motors Louth

    Grimsby Road , Louth, LN11 0SY

    Sales: 01507 307060

    Aftersales: 01507 307060

    Approved Used Cars: 01507 307060

  • Drayton Motors Boston

    The Drayton, Swineshead, Boston, PE20 3JN

    Sales: 01205 820408

    Aftersales: 01205 820408

    Approved Used Cars: 01205 820408