Supercar Finance Guide

Supercar Finance Guide

There are several elements that make a supercar stand out from other vehicles. They’re symbols of luxury and prestige, known for their power and design and produced by companies with reputations for developing classic cars. If you’re in the market for one of these iconic cars, financing a supercar is one of the best ways to pay. 

When you finance a supercar with Magnitude, we’ll work with you to design a bespoke finance solution that takes into account all your finance requirements, the time period you’d like to make your fixed monthly payments over, and your long-term plans for the car. 

If you’re interested in buying a supercar, this guide is made for you. We’ll cover: 

  • The supercar setlist
  • Why you should consider financing a supercar
  • The finance packages Magnitude offers
  • How to decide which finance method is right for you
  • What to expect from the financial process
  • FAQs about supercar finance

Up close and personal with the supercar 

There’s no single definition of ‘supercar’, but they’re easy to recognise. Supercars are known for being beautifully designed, and you can feel the power behind them from the moment you get behind the wheel. Brands known for producing supercars include Ferrari and Lamborghini, but newer companies such as Tesla are also gaining a reputation as supercar developers. 

Supercars are more than just vehicles: they’re symbols of prestige that can enhance your lifestyle. Some people collect them, while others simply enjoy the unique experience of driving a supercar. 

Part of the appeal of supercars is that, as they do not adhere to a strict definition, there is a lot of variety among them, which means there’s a higher chance you’ll find one that fits all your criteria for the perfect car. Whether you’re drawn in by a car’s reputation or you like its design, there’s a supercar out there for you. That’s where car finance comes in: whether you’ve got your eye on a Ferrari or you’re interested in buying a Porsche, Magnitude can find a finance package to take you closer to collecting the keys to your new supercar

Introducing the supercar setlist:

There are several supercar brands with models on the market. If you’d like to learn more about them, we have a number of buyer’s guides that tell you all you need to know, including one for supercars in general. Companies that produce supercars include:

-Aston Martin

-Porsche 

-Ferrari

-Tesla – Not strictly a supercar, but has supercar performance.

-Lamborghini 

-McLaren

Why should I consider financing my supercar? 

Financing a supercar makes paying for the car straightforward, achievable and affordable. There’s no avoiding the fact that supercars can be expensive, with prices typically starting at well over £100,000, but choosing to pay with car finance enables you to spread the cost out over a period of several years, breaking it down into fixed monthly payments. This way, you get the best of both worlds: the lifestyle and status that are inherent in having a supercar, at an affordable monthly price. 

There’s a sense of exclusivity to driving a supercar, and the driving experience itself is unlike anything else. Choosing to finance a supercar helps you to get behind the wheel sooner, and you’ll be able to pay for it in a way that suits you. 

A key benefit of financing a supercar is the flexibility it offers you – particularly when you choose to finance your car with Magnitude. The range of plans we offer gives you options regarding what happens to the car at the end of the finance term. For example, you could choose to part exchange, which is great if your idea of the supercar lifestyle means being able to drive new and different models as much as possible. 

If this is something that appeals to you, we have finance packages that make it possible, such as Personal Contract Purchase finance or our Hire Purchase With Balloon plan. Alternatively, your vision of the supercar experience may involve actually owning the car, in which case we might base your plan around Hire Purchase Finance. 

The great thing about financing a car with Magnitude is that we provide bespoke finance solutions, so your supercar finance package is tailored exclusively to you and your requirements. 

When you get in touch with us, we’ll take the time to learn exactly what you’re looking for from a finance plan. This includes the supercar model you’re interested in and how much it costs, the timeframe in which you want to pay for the car and what you might want to do with it after the loan is repaid. 

We aim to make the process of securing finance fit around you, so we can talk to you on the phone, face-to-face or by email. We’ll also keep in touch with you as things progress, and we’re available to offer advice and support throughout. 

We’ll secure finance for you by matching you to one of our panel of more than 20 lenders. This includes some main UK banks who are perfectly placed to provide finance for supercars, as they offer exclusive finance products for cars worth more than £25,000. 

Part of what makes Magnitude the best choice for supercar finance is that we give you access to a host of information to answer all your questions about the finance process and everything that surrounds it. Our website includes our Car Finance Academy, which features buyer’s guides for a number of cars and brings you all the latest news from the finance industry. You can explore a range of supercars and learn all about their benefits, as well as find out more about how Magnitude can help you. 

We also have a selection of Car Finance Tips, which makes it easy to find reviews, advice and anything else you might want to know. We understand that you might have questions about car finance, especially if you’ve never financed a car before, which is why we provide all the information you could need. On that note, you might want to take a look at our website’s FAQ section

If you want a better understanding of your supercar finance requirements, why not take a look at our online finance calculator? Or you could give us a no-obligation call – we’re happy to help. We can talk you through your options for car finance and the finance packages we offer. You can also find out more about what Magnitude can do for you by skipping ahead to this guide’s finance section. 

Get in touch with us today and it won’t be long before you find yourself in the driver’s seat of your dream car. 

Financing a supercar? Magnitude can help 

Here at Magnitude, we aim to make financing a supercar as simple as possible. We’re customer focused, and it’s our job to work around you to find out what you’re looking for from car finance and use this information to develop a bespoke finance plan, so you’ll soon be on your way to collecting the keys to your new supercar. 

To help us design your individual finance plan, we have a number of packages that we use as a basis. This helps to simplify the process and gives you a clearer idea of how we put together your plan. The type of package we use varies based on your requirements, as well as your long-term plans for the car. For example, if you like the sound of lower monthly repayments and a low, flexible deposit, a Personal Contract Purchase might be right for you. Or, if you’re financing a supercar with the intention of keeping the keys at the end of the agreement, you might be interested in Hire Purchase Finance

Customer experience is at the centre of everything we do, and we have decades of experience in providing it. When you get in touch with us, we’ll discuss your options in detail and explain the benefits of each finance package, as well as how it can be adapted for you. 

Once we have everything we need from you, we’ll be able to connect you to one of our panel of lenders, some of whom are able to offer exclusive finance products for cars worth upwards of £25,000 – which is ideal when you want to finance a supercar. We’ll be sure to keep you up-to-date on what’s happening with your finance, and are on hand to answer questions and provide advice whenever you need it. 

If you want to find out more about the car finance industry in general, take a look at our selection of Car Finance Tips. If you have questions, feel free to ask us, or check out our FAQ section. You can also explore supercars in even greater depth with our buyer’s guide

No matter which type of finance you choose, Magnitude is here to help you get the most out of it. With that in mind, let’s look at the finance packages we offer and explore which one is the best fit for your needs and how it can be tailored to you.

Personal Contract Purchase

The Personal Contract Purchase is one of the most popular finance packages we offer. It features a flexible deposit of between 10% and 20% of the car’s purchase price and fixed monthly repayments over a period of 36 to 48 months. The actual length of the finance term, as well as the size of the deposit and the amount you pay each month, will vary based on your individual requirements – this is something we’ll discuss with you when you contact us. 

The reason Personal Contract Purchase finance is such a popular choice is its flexibility. Once your repayments are finished, it gives you several options as to what happens next. First, provided the car is in good condition, you’ll have the chance to return it with nothing more to pay. Please note, however, that you will be responsible for the cost of any repairs. 

If you decide you’d like to keep the car, this is also possible, as all you need to do is pay off the outstanding Guaranteed Minimum Future Value. Finally, you can choose to part exchange, which lets you use any outstanding equity against your next purchase. 

For some people, the supercar lifestyle means having the freedom to drive as many different cars as possible, and that means being able to upgrade your vehicle every few years. With a Personal Contract Purchase, you have the chance to do exactly that – but if you change your mind, there’s nothing to stop you from making a final payment and making the car yours. Part of what makes PCP an attractive option to many of our clients is its versatility. 

If you’re looking for a finance package that allows you to keep your options open, a Personal Contract Purchase is the ideal solution. Whether you’re thinking about upgrading your car in a few years or you’re considering keeping the keys, PCP is worth keeping in mind when you apply for car finance. 

Hire Purchase Finance

Also popular with our clients is Hire Purchase Finance, particularly for those whose ultimate goal is to eventually own their car. 

The deposit for this type of finance is highly flexible, ranging from as little as 10% to as much as 40% of the car’s purchase price. The length of the loan agreement varies from 2 to 5 years – we’ll work out the details of the finance package with you, so you’ll be able to pay within a timeframe that works for your particular financial circumstances.  

As with PCP, repayments are made monthly and are fixed at the start of the term. As you’d expect, you’ll be charged interest on the loan, but the repayments themselves will be the same each month. 

If you’ve come across the term ‘Lease Purchase’, this is just another name for Hire Purchase, stemming from the fact that while repayments are ongoing, the car is technically on loan to you. But once the final repayment is made, the car officially belongs to you. 

Hire Purchase with Balloon

If you find yourself torn between PCP and Hire Purchase Finance, Hire Purchase with Balloon is the perfect solution, as it combines the benefits of both packages

As with PCP and Hire Purchase, you’ll make fixed monthly repayments, to be agreed upon before the start of the finance term. It should be noted, however, that the amount you’ll pay each month tends to be lower than with Hire Purchase Finance. The flexible deposit ranges from 10% to 30% of the car’s purchase price, and repayments are made over a period of 36 to 48 months – again, the exact length of the agreement will be customised to fit your requirements. 

Once you’ve finished repaying the loan, you’ll be able to part exchange or refinance the car’s outstanding value. Unlike with PCP, there is no age limit on the car at the end of the agreement. Due to its flexibility and the way it includes some of the best aspects of other packages, Hire Purchase With Balloon is often favoured by customers who want to invest in classic or collectible cars. 

If you can’t decide between the basic Hire Purchase package and the Balloon option, give us a call. We’ll discuss the merits of our various finance products and work with you to identify the right type of finance for you. 

Balanced Payments 

If you’re an experienced borrower – and that could mean an investor, a car collector, or any other type of borrower – Balanced Payments could be the ideal finance package for you

This finance package gives you access to ultra-competitive rates, as well as a number of tax benefits. As with the other types of finance we offer, you’ll start by paying a flexible deposit, and then making fixed monthly repayments until the loan is paid off. The deposit has the benefit of being relatively low and, as always, we’ll customise the length of the repayment period to suit you. Similar to Hire Purchase, you’ll technically be borrowing the car from us while repayments are in progress, but once they’re all paid, the keys are yours to keep! 

A significant difference between Balanced Payments and Magnitude’s other finance plans is that when you choose Balanced Payments, you will be subject to national interest rates, which have the potential to change over the course of the agreement term. This is why we recommend Balanced Payments to customers who have borrowed in the past and are aware of the risks involved. If you’ve never borrowed before, we suggest exploring our other finance products, or getting in touch with us to talk through your options. 

How do I know which method of supercar financing is right for me? 

With the number of options Magnitude provides for financing a supercar, you might be wondering where to start. Luckily, we’re here to help. We can tailor a bespoke finance package that fulfils all your requirements and reflects what you want from car finance. So, regardless of which supercar model you’ve got your eye on, we’ll work with you to design a finance package that gives you a great deal and gets you behind the wheel as soon as possible. 

At Magnitude, we’re all about customer experience, which means that we put you at the centre of the process. You’re an individual, so your finance package should be too, and we’ll design it to suit your financial needs. 

We offer a concierge approach, which means we’ll endeavour to fit around you and your lifestyle. Your time is valuable, so we’ll make the process of securing finance as simple as possible, providing you with a straightforward, stress-free experience. The concierge service includes lending designed for older and classic cars, for which we have access to a number of specialist lenders. We also provide car finance specifically for sports and media professionals, as well as options for refinancing your car. If you’d like to discuss this in more depth, get in touch with us.

Regardless of your financial requirements, we’re here to help. Because your finance plan is tailored to you, you know you’re getting the best deal. We use our range of flexible finance products as a starting point, then develop your personal finance package based on what you tell us. 

Which is best: Hire Purchase, Personal Contract Purchase or Balanced Payments?

If you contact us and say you’re interested in finance that lets you keep the keys once repayments are finished, we might suggest using Hire Purchase Finance as a basis. Then we’ll talk to you about your fixed monthly repayments to get an idea of how long you’d like to make them over, as well as what your thoughts are on the deposit. For example, you might want to put down a larger deposit, which will result in lower monthly repayments. 

On the other hand, let’s say you phone us and tell us that you already know you’re going to part exchange your supercar once repayments are finished. In this case, we might suggest a Personal Contract Purchase and work out the details from there. Or, if you let us know you’re an experienced borrower, we’ll discuss potentially using a Balanced Payments plan, which offers ultra-competitive rates for those who have borrowed before

Magnitude’s focus on customer experience means that we’re trusted by many people to find and secure the best deals – that’s why we have a 5/5 rating on Trustist. We don’t just help our customers to finance vehicles, we’re as enthusiastic about cars as you are. 

Check out our buyer’s guides 

We know how important it is to find the perfect car for you, which is why our website includes a number of buyer’s guides. These include overviews of a range of companies and details about the models that are currently available, as well as suggestions as to what kind of driver certain cars might be suited to. 

You can also explore our Car Finance Academy to discover more about the kinds of cars we can help you to finance, and you can read all the latest news from the car finance industry. There’s even a section specifically on supercars, so you can get all the details before you’ve even contacted us. 

Part of what makes Magnitude the go-to option for car finance is that not only do we have almost 30 years of experience in matching people just like you to finance for luxury cars, but we have access to an extensive panel of more than 20 lenders. Some of these include main UK banks, who offer exclusive finance products for cars worth £25,000 or more – which is ideal when financing supercars, which often cost upwards of £100,000. 

No matter which make or model you have in mind, Magnitude is here to help you get the best deal possible. 

What can I expect from the financial process? 

If you’ve never financed a supercar before, you might be wondering what to expect. Financing a car is one of the most popular solutions for paying for a prestige car, as it makes it more affordable by breaking payments down into fixed monthly amounts. 

Here at Magnitude, we offer a range of bespoke finance packages, which gives you options as to what happens to the car once you’ve made your final repayment. When you buy a car outright, you own it – there’s no flexibility. But finance gives you a choice, allowing you to part exchange, return the car with nothing more to pay, or keep the keys. It’s all about what you want. 

If you’re wondering what to expect from the financial process, we’re here to answer your questions. Here’s what you need to know about what happens when you decide to finance a supercar: 

Is financing a supercar easy?

There are several steps to financing a supercar, but Magnitude makes it simple. First, get in touch with us and tell us all about what you’re looking for from a finance package. Let us know about the car you want to finance, how much it costs, and the time period you’d like to pay for it over. Then we’ll discuss your options in order to build up a finance plan that’s unique to you, developed with your specific requirements in mind. We’ll make sure you’re happy with everything before the plan is finalised. 

We secure finance for each of our customers from one of our panel of more than 20 lenders. These include some main UK banks, who are able to offer exclusive finance products for cars worth more than £25,000 – perfect for financing a supercar. 

At Magnitude, we put you at the centre of the finance process, and that means treating you as an individual. We’ll keep in contact with you throughout the process and take the time to get to know you to ensure you get the best deal possible. We make a point of working around you, which means we can discuss your finance with you by email, over the phone, or face-to-face. It’s all about what’s most convenient for you. 

We can answer any questions you have during the process, and if you want to learn more, we have an extensive list of resources, such as our Car Finance Academy, which covers everything from buyer’s guides to the latest news from the car finance world

Let’s talk cash: how much do supercars cost?

When you’re exploring your car finance options, how much your supercar will cost is likely to be at the forefront of your mind. There’s no single answer to the question of how much you’ll have to pay for a supercar, as this varies between brands and models. But you can get an idea of the price range by looking at some examples. 

Let’s say you want to finance a Porsche. For the models currently on the market, the lower end of the price range starts at around £50,000. This includes cars such as the 718 Cayman, which will set you back at least £47,700 – and that’s before you add in any of the optional extras the company offers for its cars. At the other end of Porsche’s price spectrum is the 911 Sport Classic, which starts from £214,000. Somewhere in the middle of this is the Panamera 4S, from £96,000, and the Macan GTS from £68,800. 

If you’re interested in financing an Aston Martin, most new models cost upwards of £100,000. The Vantage will set you back around £125,000, the DBS starts at £240,000, and the DB11 carries a price tag of £150,000. If you’d prefer a used model, these typically start from £66,000. 

Then there’s the BMW, whose prices also cover a wide range. The 4 Series Coupe M starts from £128,225, while the 8 Series Convertible will cost you at least £84,050. The 520d M Sport Touring, meanwhile, starts from £47,370. 

If you’d like to know more about supercar prices, check out our buyer’s guides. 

Looking for a bespoke package to secure your dream car? 

Car finance is one of the best ways to secure your dream car – it’s straightforward, makes the process more affordable, and gives you options regarding what happens to the car after you’ve finished making repayments. If you’re interested in financing a supercar, Magnitude should be your go-to for all things finance. 

We understand that all our customers are individuals, and your finance plan should reflect that. That’s why we offer bespoke finance packages to help you get behind the wheel of a supercar. When you get in touch with us, we’ll find out all about your finance requirements so that we can offer a package tailored to suit your needs.

We have a number of packages available, and these can all be customised to meet your requirements. If you look at the finance section of our website, you’ll see that we provide flexible finance packages. These include rough guides to the length of the finance term and what percentage of the car’s purchase price you can expect your deposit to be, but there are no definite numbers. For example, the fixed monthly repayment period for a Personal Contract Purchase is suggested to be between 36 and 48 months, but the exact length of the term depends on you. When you finance a supercar through us, we’ll discuss this with you, so the actual term length will fit around your specific financial circumstances. 

What makes Magnitude stand out from the crowd is that, in order to create your bespoke finance package, we take the time to get to know you in order to fully understand all your finance requirements. We can talk to you in person, by email or over the phone. After all, it’s your car finance, so we think it’s important for us to work around you and your lifestyle. This helps to make the process as straightforward and stress-free as possible. Plus, we’ll stay in touch with you throughout the process, so we can offer advice and support every step of the way. 

We also have a range of resources to help you get to grips with car finance, such as our Car Finance Academy, which includes buyer’s guides for a wide range of luxury cars, as well as a number of articles that cover many of the questions you might have about finance – and some questions you might not even have thought of!

Get in touch with us today to find out more about what Magnitude can do for you. 

Financing a supercar: Here’s everything you need to know 

By this point, you might be ready to get started on financing a supercar – or you might still have questions about how finance works, such as how your credit score might affect your chances of securing car finance, how long the finance term will last and how much you’ll have to pay each month. In this section, we’ll explore these questions, and make sure you know everything you need to know before getting in touch with us and starting your supercar finance journey. 

How long do people finance supercars?

Every car finance deal is uniquely tailored to the individual, so it’s hard to say exactly how long your finance agreement will last. However, each type of finance package has a rough estimate attached as to the length of the repayment period. For example, if you finance your supercar with a Personal Contract Purchase, you can expect to make repayments over a fixed term of 36 to 48 months

Or, if you’re looking to finance a car with the intention of keeping the keys at the end of the agreement term, you might choose a Hire Purchase Finance plan, which typically lasts between 2 and 5 years. If you’re paying for a car with Hire Purchase With Balloon, repayments are usually made over 36 to 48 months, similar to PCP. 

Of course, the actual length of the repayment period will be agreed upon before you start paying, and it will be customised to reflect your specific financial circumstances and car finance requirements. This is what makes Magnitude the go-to when it comes to financing a supercar: we offer bespoke finance packages to all our customers. 

What credit score is needed to buy a luxury car?

We’re often asked about what credit score is required to finance a supercar. Firstly, it’s important to note that when you apply for car finance through us, we will perform a credit check, as is the standard throughout the car finance industry. 

Before we talk to any of our panel of lenders, we do a quotation search – but don’t worry, you’re the only one who will be able to see this on your credit search. Following a formal offer of finance, a full credit reference check will be carried out. 

It’s true that bad credit may make it more difficult for you to secure car finance, but at Magnitude, we look at credit scores on a case-by-case basis, so don’t let your credit score put you off contacting us. Sometimes, we find that a person’s credit is not as bad as they think, and if any finance options present themselves, we will discuss them with you to help you get the best deal available. 

How much is a monthly payment on a supercar?

The amount you’ll pay each month is affected by a number of factors, so we can’t say for certain what your monthly repayment rate will be. Every finance plan is customised to suit your needs, so we won’t be able to tell you how much you’ll pay per month until we’ve discussed it with you. 

The length of the finance term and the size of your deposit will affect your repayments, and these vary based on both what you want from a finance plan and the type of finance package you choose. 

If you’d like more information, feel free to give us a no-obligation call. We’ll talk you through our range of finance options, and you can find out more about what your personalised plan might look like. We’ll answer your questions and explain everything you might want to know about finance, so you can take the first steps towards getting the best deal possible for your new supercar. 

Financing your supercar with Magnitude  

Financing a supercar with Magnitude is the best way to pay for your supercar. We aim to make it a stress-free, straightforward process, and we have a range of flexible finance packages available, which means we can match you to the perfect plan to finance your new supercar. 

We put the customer at the centre of everything we do, and our team is on-hand to offer support and advice throughout your finance journey. We’ll find out your finance requirements in order to work out a finance package that suits you, and we can discuss your options face-to-face, by email or over the phone – it all depends on what you prefer. 

We have almost 30 years of expertise and experience in securing finance for car enthusiasts like you, and we have access to a panel of more than 20 lenders, including some main UK banks, who offer exclusive finance products for cars worth more than £25,000. This means we’re perfectly placed to find the right finance package for you. You can also check out our online finance calculator for more insight into what sort of finance plan will suit you.

If you’re ready to get behind the wheel of your dream car, contact Magnitude today