UK car classifieds

UK car classifieds

UK new or used cars and dealerships buying/selling cars


  1. UK Information
  2. UK Car Classifieds
  3. UK car finance, car loans and credit
  4. Car Finance Glossary
  5. Manufacturers schemes

Manufacturers schemes

These finance schemes are offered by manufacturers, dealers, finance companies and some banks for the purchase of new or nearly new cars. This is basically the same as a hire purchase deal, but may have a higher interest rate than some other loans.

You need to put down a deposit. You can usually part exchange your existing car as partial or full deposit.

You arrange a finance agreement for the remainder of the cost of the vehicle, plus interest, with the dealer or finance company.

You will not be the owner of the vehicle until you have repaid the loan in full, and the car will be repossessed if you default on repayments.

Because the UK car finance market is so competitive, some manufacturers offer exceptional deals, sometimes interest-free credit on selected models. If the car you are looking to buy is available through a zero percent or low interest rate manufacturer scheme, this could be a good choice.

Be careful about the deals and make sure you are not paying over the odds for your car loan. Do not let the salesperson push you into a finance agreement. If in doubt, ask for a quote and come back.

Interest-free Finance may look great at first, but it usually requires a large deposit and you could lose out on getting a discount or extras that a cash buyer might. Check your options before you take this loan.