Buying a used Peugeot with hire purchase (HP) car finance

Peugeot is a French automotive brand known for its stylish designs, innovative technology, and a diverse range of vehicles.

At AutoMoney Motor Finance we can help you secure HP car finance on a used Peugeot within minutes.

What’s more we can complete your deal the same day, so you can drive home with your chosen Peugeot model straight away.

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Complete your details via our online form.

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

Contents

Want to know more about buying a used Peugeot?

If you’re considering purchasing a used Peugeot, here’s a detailed look at what you should know about its strengths and weaknesses:

Strengths of Peugeot

  1. Stylish Design: Peugeot vehicles are renowned for their contemporary and attractive designs. Their sleek lines and modern aesthetics make them stand out on the road, appealing to buyers who value style.
  2. Innovative Technology: Peugeot incorporates advanced technology in its vehicles, including the i-Cockpit (a driver-focused dashboard), advanced infotainment systems, and a suite of driver assistance features such as adaptive cruise control and lane-keeping assist.
  3. Comfort and Handling: Peugeot cars often provide a comfortable ride with well-designed interiors that use high-quality materials. They also offer good handling and driving dynamics, making them enjoyable to drive.
  4. Fuel Efficiency: Many Peugeot models are designed with fuel efficiency in mind, offering economical engines and, in some cases, hybrid powertrains. This helps in reducing fuel costs over time.
  5. Safety Features: Peugeot places a strong emphasis on safety, equipping many of its vehicles with advanced safety features. Models often score well in safety tests, providing peace of mind for drivers and passengers.
  6. Diverse Model Range: Peugeot offers a wide range of vehicles, from compact city cars like the Peugeot 208 to spacious SUVs like the Peugeot 3008 and 5008. This diversity ensures that there's a Peugeot model to suit various needs and preferences.

Weaknesses of Peugeot

  1. Depreciation: Peugeot vehicles can experience significant depreciation, particularly in the first few years. While this can be advantageous for used car buyers, it's something to be mindful of if you plan to sell the car in the future.
  2. Electrical Issues: Some older Peugeot models have been reported to experience electrical problems. It's important to research specific models and check for any common issues related to electrical systems.
  3. Interior Material Quality: While newer Peugeots have improved in terms of interior quality, some older models may feature materials that are less premium compared to competitors. This can affect the overall feel of the cabin.
  4. Ride Comfort: Certain Peugeot models, particularly those with sportier suspensions, may have a firmer ride that might not appeal to all buyers. Be sure to test drive to ensure the ride comfort meets your expectations.
  5. Limited Dealer Network: In some regions, the availability of Peugeot dealerships and service centres may be limited compared to more ubiquitous brands. This can impact convenience for servicing and repairs.

Tips for buying a used Peugeot

  • Research Specific Models: Popular models like the Peugeot 208, 308, and 3008 each have unique characteristics. Research specific model years for any common issues or recalls to ensure you make an informed decision.
  • Check Service History: Ensure the vehicle has a comprehensive service history. Regular maintenance by authorised Peugeot service centres is a good indicator of a well-cared-for car.
  • Inspect for Wear and Tear: Look for signs of wear and tear, especially on high-mileage models. Pay close attention to the condition of the interior, electronics, and suspension components.
  • Consider Certified Pre-Owned: Buying a dealership-certified pre-owned Peugeot offers benefits like extended warranties and rigorous inspections, providing added peace of mind.
  • Evaluate Running Costs: Factor in potential running costs, including insurance, road tax, and fuel consumption, to ensure the car fits within your budget. Peugeots generally have reasonable running costs, but it's important to consider maintenance expenses, especially for older models.

Overall, a used Peugeot can offer stylish design, innovative technology, and a comfortable driving experience. By doing thorough research and inspections, you can find a high-quality used Peugeot that meets your needs and provides lasting satisfaction.

Buying a used Peugeot with HP car finance

One of the ways to buy a used Peugeot, if you do not have enough money to pay for it in full straight away, is to use Hire Purchase car finance (HP car finance).

This is where you ‘hire’ the Peugeot from us, spreading the cost of the car over monthly payments to us. These payments contribute towards you ‘purchasing’ (buying) the Peugeot from us at the end of the term of the borrowing, when you also pay a one-off “option-to-purchase” fee.

At this point you own the Peugeot completely and our contract comes to an end.

The pros and cons of HP car finance

Borrowing money to buy anything comes with risks, as well as rewards.

Buying a used Peugeot could be the right choice for you and an ideal solution to the practical challenges of getting about day to day. However, whilst a used car can be significantly cheaper than its brand new alternative, it still involves spending a lot of money.

When you borrow money, you need to make sure you can keep up with payments comfortably. You will have other bills to pay and necessary things to buy, so you don’t want to find that the payments on your Peugeot are leaving you short of money each month.

There are also other considerations when buying a used car and below we share the pros and cons, to help you decide if applying for HP car finance is right for you.

The pros

  • Drive away in a Peugeot today: with HP car finance you can get a Peugeot, even if you don’t have all the money for it right now.
  • Spread the cost of owning your Peugeot: cars are expensive, but are often an essential part of daily life. When you buy your Peugeot with HP car finance, you can pay for it gradually over time.
  • Manage your finances: HP car finance comes with a clear payment plan. You can easily compare what your finances will look like each month by taking away the money your Peugeot will cost you, alongside your other bills and costs, from your income to make sure it is affordable for you.
  • Decide how much you can afford each month: if you find the Peugeot you are looking at is too expensive per month, you can look at other options, with lower monthly costs.
  • Choose a term that suits you: you can repay over 3-5 years, which will impact the monthly cost to suit your monthly finances. Borrowing for longer reduces the monthly cost, but be aware it may increase the total amount you repay.
  • Own your Peugeot at the end of the term: If you keep up with your monthly payments, and can afford the “option-to-purchase” fee, you will own your Peugeot at the end of the term of your agreement.

The cons

  • Delayed ownership: You won't own the car until the final payment is made. Missing payments could result in your Peugeot being repossessed.
  • Depreciation: Used cars can lose value quickly. You might end up paying more than the Peugeot is worth over time.
  • Higher total cost: The total amount paid, including interest and fees, will be much higher than the Peugeot's purchase price.
  • Insurance requirements: Comprehensive insurance is required, which can be more costly.
  • Credit impact: Missing payments can negatively affect your credit score, making future borrowing more difficult.
  • Repossession risk: Failure to make payments can lead to the car being repossessed, possibly leaving you with outstanding debt.

Please make sure you read and understand your hire purchase agreement, maintain your car and ensure you can afford the payments before committing.

Why get HP car finance with AutoMoney Motor Finance?

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  • Complete the same day

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Ready to apply?

We hope you found the information on this page useful. If you are now ready to apply for HP car finance with us, we’d be pleased to help.

Get started with an application using our online form:

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

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