Used Car Finance at Junction 17 Cars

Our Finance

At Junction 17 Cars, our priority is to make sure that we are the most competitive prestigious retailer in the U.K. By monitoring the marketplace daily we can pass on our incredible savings to all our customers. Taking out a finance agreement is a popular way to make your purchase more affordable.

No matter what your current or previous financial situation may be; our sales advisers will be happy to help you towards purchasing a vehicle on finance. As we deal with these finance companies every day we know exactly where to place an application for a successful result. We work firmly towards your personal budget and often will help you save money.

Junction 17 acts as a finance broker. Our in-house finance team have excellent relationships with a select panel of specialist lenders, so they can offer the best bespoke finance package for you on the types of car we sell.

We Are A SAF Approved Dealership

We are proud to announce that we are a SAF approved retailer. SAF (Specialist Approved Dealership) was introduced by the Finance and Leasing Association in 2007, with the aim to improve expertises and professionalism for all retailers and dealerships across the board, and increase consumer confidence in car finance.

In order to qualify as a SAF approved retailer, the test assesses the retailers staff knowledge in regards to everything finance. Those that pass the test are then qualified and up to date on the latest finance options that their retailers offer. They're also knowledgeable in how the retailers finance options can be best tailor made to meet customers specific car-buying needs, and making sure that the customer gets the best deal available to them.

Time for a Change?

Find a Car, Enquire and Swap it with Junction 17 cars

Payment Switch

Junction 17 Cars offers a unique service; payment switch. This allows customers to upgrade their current car, to a newer model for the amount that they're currently spending - with no cash deposit needed. We have over 22 cars for you to choose from.

Complete Flexibility

Drive away in a newer model that is designed around your lifestyle and circumstances, whether that's something bigger, faster, or just something for the weekend - we've got you covered.

0% Finance

We realise buying a car is an expensive process, so we like to help out where we can. That's why we're offering 0% finance

Isn't it nice when things don't cost any extra?

Competitive Rates

At Junction 17 Cars finance is our speciality, so we know exactly which lenders will deliver you the best possible deal based on the car you're buying.

Along with competitive rates, we can offer you a quick decision so you can be driving home in your new car within the hour.

To find out more about our finance options, please fill in your details below or speak to us on live chat.

What is Personal Contract Purchase (PCP)?

Personal Contract Purchase (PCP) is a finance product that allows you the opportunity to buy a new or a used car.

It is similar to a Hire Purchase agreement as you will usually pay an initial deposit, followed by monthly instalments over a term typically between 18 to 48 months.

What makes PCP different to Hire Purchase (HP) is that your monthly instalments are paying off the depreciation of the car, and not its entire value, over the course of the term. Then, when you get to the end of your agreement, there is a final, balloon payment that must be made if you want to keep the car. The balloon payment is often referred to also as the Guaranteed Future Value (GFV).

How does PCP actually work?​


When you have chosen your vehicle, you will then agree your annual mileage and decide on the agreement term with one of our Business Managers.

We will then determine the Guaranteed Minimum Future Value (GMFV) of the vehicle at the end of the agreement and work out a deposit and monthly amount that works for you.

At the end of your agreement you will then have three options:

Return – Simply return the car the back to us 
Retain – Keep the car by paying the optional final payment
Renew – Trade it in for another car

For a quotation, help, or advice contact us and ask to speak to one of our Business Managers.

What are the advantages of PCP?


  • Monthly payments on a car financed by PCP are usually lower than if your car is financed by a Hire Purchase agreement.
  • If you decide not to buy the car, you can simply walk away when you've made all the payments.
  • Similar to PCH, you can drive away a new or used car every few years (dependent on the chosen term) without worrying about selling it on.
  • If your car is worth more than the Guaranteed Future Value then you can use that equity towards a deposit on a new ca

What should you consider when option for a PCP?


  • If you want to buy the car you will need to pay your final balloon payment (the Guaranteed Future Value).
  • Similar to PCH, you will need to agree on a mileage allowance at the beginning of your contract and there may be excess mileage charges if you exceed this.
  • You won’t be able to sell the car without settling the finance.
  • You won’t own the car until you have made all of your repayments.
  • You’ll need to keep the car properly insured, maintained and in your possession until the full value is paid off.

Can I settle my PCP agreement early?


You can normally settle your agreement early by asking the finance company to provide you with a settlement figure. However, the finance company will require you to pay off the difference between what your car is worth, and what you still owe and there may be a difference which is known as negative equity. On the other hand, you may find that at the end of your term your car is worth more than the Guaranteed Future Value, which means you will have some positive equity to contribute towards your next car.

What is Hire Purchase (HP)?

​Hire Purchase is a way to finance buying a new or used car. You will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends, and you own the car outright. 

What are the advantages of HP?


  • You’ll be able to drive away a car that you may not have managed to buy outright.
  • Unlike a PCP or PCH contract, you won't need to estimate your mileage at the start of your Hire Purchase agreement, so you'll avoid excess mileage charges.
  • Once you’ve made your final monthly payment, including the option to purchase fee, you'll have full ownership of the car.

What should you consider when opting for HP?


  • Monthly payments may be higher than some other finance options, such as PCP, as you're paying off the full value of the car.
  • You won’t be able to sell the car without settling the finance.
  • You won’t own the car until you have made all of your repayments.
  • You’ll need to keep the car properly insured, maintained and in your possession until the full value is paid off.

Can I settle my HP agreement early?


The short answer is yes, you can end your finance early. There are different provisions within each finance agreement that allows you to do just that. If you have got through two-thirds of the way through your finance agreement, the options to end the finance agreement early open up.

For a Hire Purchase agreement, there is an option of paying it off early through a settlement fee. A settlement fee covers the cost of any remaining unpaid instalments and interest payments remaining on the agreement. Once the settlement fee is paid, you take full ownership of the car early.

Under a Personal Contract Purchase agreement, you can also pay a settlement fee for bringing the agreement to an end early. After that, you can choose to hand the car back or you have a second option. Through a PCP agreement, you can take full ownership of the car by paying off the remaining Guaranteed Minimum Future Value also known as a balloon payment.