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How to Buy a Car on Finance

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How to Buy a Car on Finance

When buying a car, there are car financing options available that can provide affordable and flexible ways of buying a car. These include PCP, Personal Contract Hire and PML. However, understanding exactly what each one offers is imperative to securing a plan that works for you.

That’s why we’ve put together a complete guide of how to buy on a car on finance, sharing the ins and outs of PCP and PML and how they can offer you flexibility and long-term value.

Kia Sportage in experience green - side view

Getting a car on finance: what are your options ?

If you’re looking to get a car on finance, you need to consider the options available to you.

A couple of car financing options that are particularly popular are PCP and PML. Let’s explore how to get a car on finance through these methods, what each involves and what they can offer you.

Kia dealership with models driving a Sportage

Personal Motor Loan (PML)

Personal Motor Loan is a traditional method of car financing that allows the driver to hire, and then own, a used or new car by spreading the upfront cost. Like Personal Contract Hire (PCH), the driver makes fixed, monthly repayments over an agreed term, until the cost is fully repaid.

With PML, you can also choose to make an initial deposit, which will reduce the cost of the monthly payments. The interest rate is also fixed, so you’ll know exactly how much you’ll repay at the beginning of the agreement. At the end of your contract, if all monthly repayments have been made, you will own the vehicle.

Getting a car on finance with PML provides flexibility in terms of deposit, term length and early settlement. With PML deals, you may also have the option to end the contract early by paying off your remaining balance, allowing you to own the car sooner.

Kia  Sportage with tailgate open, model on a bike

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Considering financing a Kia car? Use our car finance calculator to get a personalised quote

Kia dealership, with models shaking hands

Personal Contract Purchase (PCP)

PCP (Personal Contract Purchase) is a form of car financing that enables drivers to spread the upfront cost of a car over an agreed-length contract.

In a PCP car deal, the driver chooses a car they’d like to finance and agree to a contract-length in which they’ll pay monthly repayments and an initial deposit amount. Like PML, the larger the deposit, the smaller the monthly payments will be.

Like PML, PCP also offers ongoing flexibility. Getting a car on finance with PCP enables drivers to tailor their contract. This gives you the choice of owning the car after making an optional final payment or using any equity you’ve accumulated during your contract towards a deposit for an upgraded car.

Kia  niro EV side view

Buying a Kia car on finance

At Kia, we want to ensure the driving experience of tomorrow is available and accessible to everyone today. That’s why we offer an extensive range of Kia cars with PCP or PML offers, including Hybrid, Plug-In Hybrid, and Electric Cars.

Our exciting range of PML and PCP car deals includes finance offers for the award-winning Kia EV6. With an impressive all-electric range of up to 328 miles* as well as ultra-fast charging, this sporty crossover makes emission-free driving hassle-free.

You can also get the all-new Kia Niro in Hybrid, Plug-In Hybrid and fully Electric powertrains. Infused with innovation and designed with family at the heart, the Niro has advanced connectivity features and high-tech safety functions.

Alternatively, experience everything the Kia Sportage has to offer, available in petrol/diesel and hybrid powertrains. The Sportage is our award-winning family car, engineered to provide a driving experience that combines technology, safety and performance under one roof. With a range of convenient features, safety functions and drive modes, this SUV excels in versatility.

Also available on PML or PCP is the Kia XCeed, our ultra-modern, dynamic crossover. With cutting-edge technologies, enhanced safety features and a stylish aesthetic, the XCeed really does feel as good as it looks.

Want to find out more? Discover what’s possible when you explore the rest of our PML and PCP car deals and find out how to apply for car finance with Kia. You can also use our car finance calculator to create a tailored finance quote for your dream Kia vehicle.

*The range was determined according to the standardised EU measurement procedure (WLTP). The individual driving style and other factors, such as speed, outside temperature, topography and the use of electricity-consuming devices/units, have an influence on the real-life range and can possibly reduce it.



Models sat on a sofa in a dealership discussing cars


Images shown are for illustration purposes only and may not be to full UK specification. Features shown are not standard across the Kia model range and availability will vary dependant on model. For further details please refer to the individual model specification sheets.