Evolution Group Car Finance

Evolution's finance division can assist you with various funding options in relation to the purchase of your new vehicle.

As a FSA regulated company, our advisors work to a strict code of practise to provide our clients with an efficient and fair deal. Please fill in the car finance form below for a quotation.

Car Finance enquiry form

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Personal Contract Purchase

Personal Contract Purchase (PCP) is an increasingly popular choice for car finance. It offers the best in flexibility at the end of the agreement, together with low, fixed monthly payments.

PCP is perfect if you are opting out of your company car scheme. Your company car allowance can fund your monthly payments, but there is no company car tax to pay.

At the beginning of the agreement your car's guaranteed future value is calculated, based on an agreed mileage and age. This is deferred as a final 'balloon' payment.

With PCP you don't have to commit to buying the car at the outset. You use it for an agreed period of time (24-48 months) and then decide at the end of this period what you would like to do. You have four options:

- Buy the car by paying an agreed minimum residual value
- Part-exchange the vehicle for another
- Sell the vehicle privately (settling the balloon)
- Or, subject to mileage and condition, return the car with nothing more to pay
(e.g. if depreciation resulted in negative equity)

The benefits of Personal Contract Purchase:

- Low risk - A minimum future value is guaranteed
- Low deposit - keeps valuable personal or business cash available
- Low fixed monthly payments - perfect for budgeting
- Choice - Buy the car, part-exchange it or just return it
- A better car - lower payments can help you choose a higher specification car
- VAT free - no VAT on your payments
- Tax advantage - the cash alternative when you opt out of a company car scheme is not subject to company car tax

Hire Purchase

Hire purchase offers a straightforward way to spread the cost of your new car. With this method of finance you have a fixed rate of interest with fixed monthly payments, making budgeting simple and easy.

You choose the amount of deposit you wish to pay, typically between 10-50% of the car's cost. The remainder of the balance, together with fixed interest, is repaid over an agreed period of your choosing (12-60 months).

The benefits of Hire Purchase:

Low deposit - keeps valuable personal or business cash available
Control - you decide the deposit, you decide the term
Fixed monthly payment – makes budgeting simple
Flexibility - doesn't compromise your other lines of credit
Assets - you gain ownership of the car
Tax benefits - Tax allowances for business users
VAT free - no VAT on payments