Rates from 8.9% APR. Representative Example: Borrow £12,000 over 5 years with a £0 deposit. Representative 19.5% APR fixed rate. Monthly payment: £304.38. Option to purchase fee £10 payable. Total cost of credit: £6,272.80. Total amount repayable: £18,272.80.
Car Finance 247 Limited is a credit broker, not a lender.
Considering a hybrid car?
With the ban on sales of new petrol and diesel cars coming into force in 2030 and the proven environmental benefits and fuel cost savings offered by electric vehicles, opting for a hybrid could offer the best of both worlds.
If you’re looking for hybrid car finance, Car Finance 247 is here to help! We’re a broker, not a lender and we’ll work to find you the best deal from our panel of lenders and pair you with a dedicated account manager, who will guide you through the process and answer any questions you might have.
There are two main types of hybrid car finance:
PCP Car Finance
PCP or Personal Contract Purchase is a type of car finance that gives you options. At the end of your agreement, you can choose to give the car back, buy it by paying the balloon payment, or use any positive equity as a deposit in a new deal. You won’t have to borrow the full amount that your car is worth so monthly payments could be lower than other loan types, but you might have to agree to mileage restrictions.
HP Car Finance
HP or Hire Purchase is a fixed rate loan that lets you break down the cost of your car into affordable monthly payments. Your repayments might be higher than other finance types but it’s unlikely that you’ll face any mileage restrictions and when you reach the end of your agreement, the car will be all yours!
Plug-in Hybrids (PHEVs)
Similar to electric vehicles, a plug-in hybrid needs to be plugged in to recharge the battery. They come equipped with both a battery-powered motor and a petrol or diesel engine, so you can travel short distances using electric power and switch to traditional fuel for longer trips.
Mild Hybrids (MHEVs)
A mild hybrid still has an electric battery as well as a petrol or diesel engine, but the electricity generated is only used to power the car’s electrical systems – you can’t drive using only electric power. The battery doesn’t need to be plugged in to charge as it gains power when the car coasts or brakes.
Full Hybrids (FHEVs)
Full hybrids are powered by a battery and petrol or diesel engine and the car can switch between both sources automatically. These vehicles can typically only travel short distances under solely electric power, but they don’t need to be plugged in to charge.
While used hybrid cars can cost more to buy than petrol or diesel models, you could save on running costs (as well as contribute towards protecting the environment). You may also benefit from a reduced rate of depreciation and used hybrids registered before 1st April 2017 don’t have to pay any road tax.
Looking for a hybrid van? If you’re looking to swap your work van for a more environmentally friendly version, you can apply for hybrid van finance. Choosing a hybrid could help you cut fuel costs, especially if you work takes you on lots of short journeys or into city centre ultra-low emissions zones.
Get a quote today.
It all starts with a quote. If you’re approved in principle, we’ll give you a call to talk through your hybrid car finance options. Your personal account manager can answer any questions you have and grant you access to our car search – a treasure trove of over 100,000 used cars ready and waiting to find a home. Found a hybrid car somewhere else? We can still help – just let your account manager know.