Types of Car Finance

If you are interested in purchasing your next vehicle via a finance package or payment plan, it helps to know what each type of finance is. We have listed our main types of finance packages below so that you can have a better idea of the type of solution you want.


Hire Purchase (HP)

Hire Purchase allows you to pay for your vehicle over a period that suits you. Your monthly payments will depend on the length of your term, between 24 and 60 months, and how much deposit you want to contribute, which can be as little as nil. At the end of the agreement you own the vehicle and no further payments are required.


Personal Contract Purchase (PCP)

This flexible payment plan allows you to choose your deposit, the length of your contract and mileage in return for a fixed rate payment. At the end, you can either return your vehicle or purchase it outright for an agreed amount. The benefit of PCP Finance is that monthly payments are lower than with Hire Purchase agreements


Contract Hire

Typically preferred by businesses, contract hire allows tailored arrangements suited to the requirements of the business in question e.g. the size of the fleet, type of business and company's taxation requirements.



At Baylis, we offer each of these finance options, as well as several others designed to lighten the load on your finances. For more information, get in touch with us today or view our latest offers.


Status disclosure Financial Conduct Authority (FCA)

General Insurance

Baylis (Gloucester) Limited is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486) and which is permitted to advise on and arrange general insurance contracts.

Consumer Credit

Baylis (Gloucester) Limited is authorised and regulated by the Financial Conduct Authority (our registration number is 689288) and which is permitted to advise on and arrange consumer credit contracts and broker sourcing credit to assist with your purchase from a carefully selected panel of lenders. We may receive a fee for these introductions. A guarantor may be required, and all offers and credit subject to status, terms and conditions apply.

What to do if you have a complaint

e-mail: info@baylis.uk.com

Or in writing: Customer Care Department, Baylis, Princess Elizabeth Way, Cheltenham, GL51 0A