Simply put, car finance gives you the opportunity to spread the cost of a vehicle over an agreed term at a fixed rate of interest making the purchase more manageable. At Kandoo Car Credit we have an extensive panel of lenders offering varying products depending on your affordability and credit rating. Whether your credit rating is excellent or poor we will work with you to find the best option available.



Your credit rating is ultimately your credit score and amongst other factors like age, type of driving license, that are specific to each lender, your credit rating indicates how risky it would be for a company to lend you money. Your credit rating helps a lender see how likely it is that you will pay the loan back. Every lender has different tiers depending on how good or bad your credit rating is and the rate at which you pay back the loan is fixed on the tier. So, the quality of your credit rating will dictate what financial products are available to you and how much you will pay back. Thankfully at Kandoo Car Credit we work with a range of lenders that can offer finance to most people with varying credit ratings. It is our job to find you the most suitable finance option from our panel and guide you through our simple process into your new car.



Hire Purchase is a loan that is fixed/secured on a car. It is a way of purchasing a vehicle without having to pay the full balance upfront. Instead, it is an instalment plan that allows you to make fixed payments for an agreed period of time (term) until the balance is paid in full including the option to purchase fee, at which point you will own the vehicle outright. The total amount paid will include the price of the vehicle (asset) plus the interest accumulated over the agreed term and any administration fees the lender may charge (specific to each lender). With HP you have the option to settle off your finance agreement at any point throughout the agreed term and by doing so you would reduce the total interest paid. You have the option to put in a deposit to reduce your payments, however, HP can be secured using Kandoo Car Credits lender panel without a deposit being required.



Like HP, PCP secures a loan against the car. However, the difference between HP and PCP is the payments are calculated based on how much the car will depreciate over the agreed term of the finance agreement. When applying for PCP you will have to let the lender know how many miles you expect to do per year as this will affect how much the car will depreciate over that time. If the lender expects the car to depreciate by £5000 over the term, the monthly payments will be calculated on that £5000 rather than the total price of the car as it would be with HP. This can be attractive for buyers as the payments will usually be lower on PCP depending on the term agreed.


PCP also gives you options when the term ends.

  1. you can pay the remaining balance known as the balloon payment (Guaranteed Minimum Future Value) and take title of the car.
  2. you can give the car back to the lender.
  3. You can part exchange the vehicle, settling off the balloon payment in the process.

It is important to carefully consider your projected mileage as charges maybe added at the end of the term if you do more than originally stated however this is a great way to keep your payments low. Speak to a Kandoo advisor to learn more.



With regards to the finance, every lender has different criteria when it comes to the car. They will consider the age, mileage and price of the car. Some will have a minimum and maximum loan amount and will have a maximum age and mileage the car can be at the end of the agreed term of finance.

In order to find out what the vehicle criteria will be for you specifically we only need a few details. Our application process is quick and simple and if approved an advisor will contact you to explain everything.



As a car finance broker it is important that we not only take our responsibility seriously when offering you finance options, ensuring we offer the most cost effective option for you, it is also important that we do our due diligence on all the dealers that we work with to ensure you are buying from a reputable source. At Kandoo, we want you to be buying a reliable vehicle from a quality dealership.



  • Similar to a HP agreement but you have to commit to owning the vehicle at the end of the agreement (no option to purchase fee, no option to hand back).
  • You can put a deposit down if you have one, some lenders may have this as part of their criteria.
  • This is a suitable agreement if you definitely want to own the vehicle at the end of the agreement.
  • The lender owns the vehicle until you have made all payments to them.
  • There are no mileage restrictions, payments and terms are set before signing.


We hope the above helps but please call a Kandoo advisor to know more on 0161 850 5354.



Beech Court
M60 Office Park
M27 8FF



01204 311 789




Mon – Thursday 9am – 7pm
Friday –  9am – 5:30pm
Saturdays – 10am – 5pm
Sundays – 11am – 3pm

Please note Kandoo Car Credit Ltd is a broker not a lender.

Kandoo Car Credit Ltd (Company No. 12178111)T/A Kandoo Car Credit is authorised and regulated by the Financial Conduct Authority (FRN No. 936619). We are registered with the Information Commissioner’s Office – No. ZA549847. Applicants must be 18 or over, terms and conditions apply. We are a credit broker, not a lender. All finance is subject to status and income. We can introduce you to a limited number of finance providers and other brokers who may be able to offer you finance facilities for your purchase. We will receive a commission payment from the finance provider if you decide to enter into an agreement with them, your rate is not affected by the amount of commission paid. Our commission is a fixed payment or percentage; however, this may vary by lender. Further information available on request.