What is Car Finance?

Car finance encompasses a range of borrowing options designed to help you purchase a new or used car. A widely used option is Personal Contract Purchase (PCP). Other important car finance choices include Personal Contract Hire and Hire Purchase. The Platinum Motor Group offers a variety of these borrowing options.

What is PCP Finance?

The short video below explains how PCP Finance works.

What is HP Finance?

The short video below explains how HP Finance works.

What is a PCH agreement?

Personal Contract Hire is a simple lease agreement that gives you the ability to regularly change cars and avoid the decreases in value that owning a car outright normally results in.

Similar to a standard home rental contract, there is no option to buy the vehicle at the end of your term. You simply hand it back to the rental company and are then free to enter another agreement. Do watch out for any damage made to the vehicle during your contract, as you may be charged for this by the rental company when you return the vehicle.

When entering a lease agreement, you will be asked to choose your desired term length and anticipated annual mileage. A combination of these factors will determine the cost of the monthly payments.

Enquire About Finance Types

Our Insurance & Protection Products

When purchasing your new vehicle, it's important to protect your investment from the unexpected. That’s why we offer a range of insurance products designed to provide peace of mind and financial security. Whether you're looking for gap insurance, alloy wheel protection or comprehensive protection plans, we have options to suit your needs and budget—all conveniently available alongside your vehicle purchase.

Guranteed Asset Protection (GAP)

Find out more

Alloy Wheel Protection

Find out more

Shine! Protect

Find out more

Financial Conduct Authority

Platinum Motor Group is a trading name of Renrod Limited. Registered Office, Platinum Motor Group, Unit 12 Meridian Business Park, North Bradley, Trowbridge. BA14 0BJ. Registered in England No. 1210595. VAT Registration No. 821 9379 14. Renrod Ltd t/a Platinum Motor Group is authorised and regulated by the Financial Conduct Authority. FRN: 689306. We are a Credit Broker not a Lender and can introduce you to a limited number of lenders. An introduction to a lender does not amount to independent financial advice. Our approach is to introduce you first to the relevant manufacturer supporting finance company. If they are unable to make you a finance offer, we will inform you and request your permission to submit a proposal to another of our lenders. Please ask for a list of our funding partners. We do not charge a fee for our services. We will receive commission from the lender for introducing you which will either be a fixed fee or fixed percentage of the amount you borrow. The lenders we work with will pay commission at different rates. The exact amount of finance commission will be provided to you in good time prior to conclusion of your finance contract. We receive commission as a proportion of premium paid from our insurance provider if you decide to enter into an agreement with them. Our manufacturer supporting finance companies also provide funding for our vehicle stock and financial support for our training and marketing. However, any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. For the sale of general insurance, Renrod Ltd t/a Platinum Motor Group is an Appointed Representative of Automotive Compliance Ltd (FRN 497010, which is authorised and regulated by the Financial Conduct Authority). Automotive Compliance Ltd’s permissions as a Principal Firm allows Renrod Ltd t/a Platinum Motor Group to act as an agent on behalf of the insurer for insurance distribution activities only. You can check this on the FCA Register by visiting the www.fca.org.uk

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What is Car Finance?

What is PCP Finance?

What is HP Finance?

What is a PCH agreement?

Our Insurance & Protection Products

Guranteed Asset Protection (GAP)

Alloy Wheel Protection

Shine! Protect

Financial Conduct Authority

Financial Conduct Authority

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