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Financing a used car

Did you know, a one-year-old car with 10,000 miles on the clock will, on average, have shed 27% of its value? 

Depending on your circumstances, a quality used car may be worth consideration when it's time to upgrade. In this article, we'll explain how and where you could find a quality used vehicle, and some examples of ways to finance a used car. 


What is an approved used car? 

When owners trade in their cars with a retailer, the retailer generally selects the best ones for their approved scheme. An approved used car will usually be less than five-years-old, in excellent overall condition, and with low mileage. Pre-registered and ex-demonstrator vehicles are often included within the approved used schemes, enabling you to find a 'nearly-new' car for a fraction of the cost. 

Your retailer will also carry out a series of checks to ensure the car meets their minimum standards, including:

  • Multipoint check. This involves up to `20 different checks to ensure mechanical parts, paintwork etc. are in good condition.
  • History check. This verifies the car's roadworthiness and ownership status, and can include its finance, theft and accidental history.
  • Warranty. A used car might still be covered by its original warranty. If not, the retailer will often offer an additional warranty of at least three months, sometimes with the option to extend. 

An approved used car can give its owner a guarantee of quality and greater protection under consumer law, when compared with non-approved used cars. For many, the added reassurance of an approved car is worth paying for. 

Buying a used car

To make buying a used car simple we have partnered with Spoticar. As Stellantis’ approved used retailer, they will provide you with 5 key promises with every purchase to give you peace of mind:

  • Minimum 12 months’ warranty 
  • Vehicle history and mileage check 
  • Comprehensive multi point check and pre-delivery inspection
  • 30-day vehicle exchange programme
  • 12 months’ roadside assistance 

To find the used car for you, simply browse our selection online and make an enquiry with your chosen retailer. The retailer will work with you to find the best finance option for you. 

Ways to finance a used car

Whether it's an approved used car, a pre-registered or ex-demonstrator model, Stellantis Financial Services offers simple car finance for used vehicles across many different brands. There are three key financing options:  

Personal Contract Purchase (PCP)

Available on both new and used cars, PCP lets you purchase your car with a deposit, followed by fixed monthly payments, enabling you to budget with confidence. At the end of your contract, you can part exchange your car, return it or, on payment of the balloon payment (also known as Guaranteed Future Value), you can own the car outright.

Personal Contract Hire (PCH)

PCH is a long-term leasing agreement, so there's no option to keep the car at the end of your contract. At the start, you'll pay the advanced rental fee and agree an annual mileage allowance. When the contract ends, you simply return the car and pay any excess charges (if applicable). 

If you'd prefer to take out a PCH agreement on a used model, it must be less than 39 months old, with a mileage below 50,000.

Conditional Sale

Conditional Sale is a straightforward, budget-friendly way to spread the cost of a new or used car. You pay a deposit, agree a monthly payment to suit your budget, and when the last payment is complete, the car is yours. 

Our Finance Products

There are many decisions to make when choosing a new car, but one of the most important is choosing the best financing option for you. Use our interactive tool to help you understand which product is most suitable for you.

New vehicles

Tempted by a new vehicle? Stellantis Financial Services offers budget-friendly and flexible ways to finance the sale or lease of new cars too. Before you decide, be sure you've weighed up all the options. If you need further information, try our FAQs page or visit one of our retailers