From PCP & Hire Purchase to bespoke funding packages


We offer a range of car finance products to meet your individual requirements.

Our concierge service, coupled with over 30 years experience, and a panel of over 20 lenders enables us to create a finance package to suit each individual client’s needs.

To begin your journey with Magnitude Finance explore our range of products below, or enter your details into our unique car finance calculator for an instant, accurate no-obligation finance example.

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What is Hire Purchase with a balloon?

Hire Purchase with a balloon payment is very similar to a standard Hire Purchase agreement, but like a PCP a certain amount of the loan is deferred until the end as a final “balloon” payment to reduce the monthly payments. For cars with strong residual values, the final balloon can be more flexible than a PCP, which can further reduce monthly payments. The balloon amount is agreed in advance and fixed, but unlike a PCP there is no Guaranteed Minimum Future Value and the final payment has to be settled at the end of the agreement if you want to take ownership of the vehicle. The alternatives are part exchanging or refinancing the vehicle.

How does it work?

You make an initial deposit – normally 10-30% – and pay for the vehicle monthly until the end of the agreement, when you will need to pay the balloon payment to take ownership of the vehicle, refinance the outstanding balance or trade the car in.

What are the benefits of Hire Purchase + Balloon?

  • Lower monthly payments than equivalent HP
  • More flexible final payment than a PCP
  • A simple way to finance a vehicle purchase
  • Flexible deposit options at the start
  • A choice of agreement length based on your own financial circumstances
  • Fixed monthly repayments

Why choose Hire Purchase + Balloon

HP Balloon agreements are ideal for those purchasing collectable or classic cars with strong residual values such as limited production Porsche and Ferrari models. Unlike a PCP, there is no age limit on the vehicle at the end of the agreement.

Things to consider

Once all of the monthly payments have been made, you will need to pay the final balloon payment. Once you have paid this you become the owner of the vehicle. The car can also be part exchanged, with any remaining equity going towards the next vehicle once the finance has been settled.

You also have options to settle the finance agreement part way through the term of the agreement, your finance provider can give you specific details at any time.

Read our faq's

We’ve got lots of amazing resources to help you understand the world of prestige car finance

Our Car Finance Academy provides all the resources you will need to choose the right finance product and get the most out of your car finance agreement.

Car finance can be tricky to understand, so we help de-mistify it. Do you know the difference between a regulated and non-regulated agreement? What happens if you want to trade your car in before your finance is over? We’ve got the answers that some finance companies won’t want to give you…

Read more

Already have a Finance agreement in place?
Try our Car Finance settlement Calculator.

Our car finance settlement calculator will calculate the outstanding balance of any loan.

This formula assumes all payments are made on time and that you have an agreement regulated by the Consumer Credit Act. Please note that there may be additional settlement penalties for non-regulated agreements.

If you wish to settle any finance agreement early and you are a Magnitude customer please give us a call. If not, we recommend that you contact your existing finance provider for an exact figure.

Settlement Calculator

Our concierge team love helping our customers finance their dream car. Get in touch with them to see how we can do the same for you.