Vehicle finance made easy
Explore ALPHERA’s personal contract purchase (PCP) and hire purchase (HP) options and find a way to finance your next vehicle.
ALPHERA offers two ways to finance a new or used car: personal contract purchase (PCP) through ALPHERA Select and hire purchase (HP). Explore the key differences below and choose the option that best suits your needs.
ALPHERA Select personal contract purchase (PCP)
Usually offers lower monthly payments than an equivalent hire purchase agreement, with the flexibility to keep, part-exchange or return the car at the end.
ALPHERA hire purchase (HP)
Make fixed monthly payments towards owning the car, with no contractual annual mileage allowance or optional balloon payment.
PCP vs HP – which finance product is right for me?
Compare your options and make an informed decision with our handy guide to motor finance agreements.
Understanding common car finance terms
Car finance can include unfamiliar terms, but understanding the basics can make it easier to compare your options. Below, we explain the two types of car finance available from ALPHERA. For independent information about motor finance, visit the Finance & Leasing Association website.
How does the car finance application process work?
Our short Customer Finance Films explain the application journey, including how to choose a finance product, understand your quotation and proposal, and sign your agreement. (Please note that all finance is subject to status.)
Finding The Right Finance Product For You.
Your Vehicle Finance Quotation.
Your Finance Application.
Signing Your Finance Documents.
Types of motor finance
Personal Contract Purchase (PCP)
ALPHERA Select is our PCP product which lets you defer part of the car’s cost until the end of the agreement as an optional final payment. This usually means lower monthly payments than an equivalent hire purchase agreement. At the end, you can keep, part-exchange or return the car, subject to the agreement conditions.
Hire purchase (HP)
ALPHERA hire purchase is our HP product. It allows you to spread the cost of a vehicle through a deposit and fixed monthly payments. ALPHERA owns the car during the agreement, and ownership passes to you once all required payments have been made.
MyALPHERA Finance
The easiest way to manage your motor finance
With the MyALPHERA Finance portal, you’ll find all the help you need to manage your finance agreement, whenever you need it. It's free and simple to register – ready to get started?
Register now
- View and manage multiple finance agreements
- Request a settlement figure and make an online payment*
- Edit your personal details
- Manage your documents
- Request partial early repayment*
- Update your bank details and amend your payment date
- Manage your options at the end of your agreement**
- View your payment summary
- Manage your marketing preferences
- Mileage calculator available***
*Excludes Personal Contract Hire Customers.
**Applies to Select and Hire Purchase customers only.
***Available for Select and Personal Contract Hire customers only.
Frequently asked questions
That depends on how you want to use and own your vehicle. PCP may suit you if you want flexibility at the end of your agreement, while Hire Purchase may suit you if you want to own the vehicle once all payments have been made. Our handy car finance comparison guide may help you decide.
With PCP, you usually have lower monthly payments and options at the end of the agreement, including returning the vehicle, part-exchanging it, or paying the optional final payment to own it. With Hire Purchase, you make fixed monthly payments and own the vehicle at the end of the agreement, once all payments and any option to purchase fee have been made.
Yes. ALPHERA finance can be available for eligible used vehicles through our approved Retailer network, depending on the vehicle, finance product and your individual circumstances.
ALPHERA finance is arranged through our approved Retailer network. Your Retailer can explain the options available, provide a finance quotation and support you through the application process.
Think about whether you want to own the vehicle at the end, how long you want to keep it, your expected mileage, your deposit, and the monthly payment that feels right for your budget. Your Retailer can help explain how different options may suit your needs.
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