Free Instant Car Finance Check that won't affect your credit score
Get Started!

Leasing Or Financing A Used Car


Used car leasing and finance deals come with modest payments and often certified used cars, making leasing a used car an appealing option.

Many people think of car leasing, and wrongly assume that you can only lease brand new cars. In fact, this isn’t the case at all. Hippo Finance and Hippo Leasing specialise in used car finance and leasing, as well as new car leasing.



At Hippo, we finance used cars daily and there’s good reason for this.

  • Used approved – We have our own service centre at Hippo so each vehicle comes ‘Hippo approved’. This means that they come with a 124 point inspection, and are fully checked and prepped up to a high standard to ensure that you will have a smooth drive throughout your leasing term, even if you haven’t opted for a brand new vehicle.
  • BVRLA – All our cars are strictly prepared and prepped to BVRLA Standards.
  • Nearly new – The used lease cars we have in stock are usually only between 1-3 years old, with few owners and either fleet miles or low mileage. They are all different but what will be the same; they’ll all be mechanically sound to upkeep our reputation and keep you safe.
  • Warranty – To give you peace of mind, all our used cars come with outstanding manufacturer’s warranty or complimentary 3 months fully comprehensive Hippo warranty.
  • Quicker Delivery – The lead time for a used car is way quicker than a brand new car from the manufacturer. A brand new car can take weeks or even months to get to you, as these vehicles are built from scratch by the manufacturer. Whereas all used cars are already in stock, waiting to be delivered to you within just 10 days. With a nationwide delivery option available, your chosen car can be delivered to your doorstep, no matter where in the UK you are. All cars on our Hippo Leasing site with ‘used special’ are in stock and available on finance, not just lease.
  • More cost effective – Yes it will often be cheaper to lease and finance a used car because;
  1. Less, or NO deposit – Manufacturers often want bigger deposits. Because we own these used cars, we are able to offer them with very little or no deposit at all if that’s what you prefer. Simply choose a finance option, choose the car and start paying monthly for the car; no large lumps sums up-front.
  2. Obviously leasing a car that’s two years old is going to be cheaper than leasing the same car that’s brand new. As soon as a new car leaves the forecourt it’s worthless, and the main value depreciation happens within the first couple of years. When leasing, monthly payments primarily go towards depreciation, which is less severe as a car ages, giving lower monthly payments. Yes, it will have a few miles on the clock but it’ll still come with that new car smell and it’ll be much lighter on your monthly payments.

2014 Ford Focus


You can finance a used car just like you could finance a brand new car. There are 3 main types of finance available;



Used car hire purchase is a way to own a car, without having to pay large sums upfront like when buying. You’ll pay an initial deposit (if any), and a set amount of agreed monthly payments for an agreed term.

The amount you pay, and how long that term is, is dependent on your financial capabilities. If you pay a large deposit, your monthly payments will be lower, or you may wish to spread the cost evenly over the whole period and pay no deposit.

Whichever payment structure you choose, at the end of your chosen term, you’ll own the car outright. No balloon payments, the car is simply yours once you’ve paid it off.

It’s the best way to own a car and spread the cost of it through monthly payments you can afford.



Perhaps, since your recent car issues, you’re now reluctant to take ownership of an older car again. The used car you lease may only be two years old and working perfectly when you leave our forecourt but once your lease is up, it’ll be 5 years old and, depending on how you’ve treated it, may not be something you want to have to keep and deal with. If so, used car PCH will be your best option. Get all the perks of leasing a used car, cheaper and quicker, without having to own it in the end.   

Choose your used car to lease, agree on; a deposit (if any), the monthly payments, mileage and contract length and drive away. At the end of the agreed term, simply hand the car back. No strings attached at all, you can walk away or lease another used car.



You’ve found the perfect car, it’s only a couple of years old and it’s in amazing condition (Hippo used approved). It’s done little miles and you just aren’t sure whether you want to own it at the end of the lease term, or whether you’ll want to give it back. If you would prefer to have the option to own it, but since your last car broke it’s made you wary, go for used PCP.

This finance option gives you the best of both leasing worlds! It’ll start the same; choose the car, the deposit, the mileage and contract length. However, one main difference with PCP is that the finance company or lease company will calculate how much they think the car is worth at the end of the term. This is called the residual value; what it’s worth at the beginning, and what it’ll be worth at the end. They will then calculate your monthly costs going off this figure, along with a balloon payment to pay at the end of the lease.

At the end of the used car PCP deal you’ll have 3 options;

  • Pay the balloon payment and the car is yours. You’ll take full ownership and the monthly payments will stop.
  • Hand the car back – Don’t pay the balloon payment, simply give the car back like you would on PCH
  • Use the car as a down payment or part exchange for another vehicle



Ordinarily, when looking for a used car lease you will have to look for a car yourself, and then look for a way to finance it. Save precious time and energy with us at Hippo Finance.

We merge these two tasks together, by being a car finance company and a leasing company. We have 1000’s of used cars in stock through Hippo Leasing, and we have close relationships with all the major lenders through Hippo Motor Finance, successfully dealing with all kind of credit.

Simply let us know how much you can afford, and we’ll work out the best finance option, and show you what cars are available for your budget.


Choose Hippo;


Available to do online or over the phone, it’s a quick process where we’ll take some details such as employment details and addresses, so we can see what would be the best car finance option for your personal circumstances.


We deal with all kinds of financial backgrounds and credit, approving many when they have been turned away elsewhere. We will work closely with yourself to ensure you’re kept up to date with the decision from the lenders.


We’ll give you suggestions for the ideal car for you, your personal needs and your budget. If you’ve already seen a car you like, let us know and we’ll source an identical car for you. This allows us to prepare the vehicle to the highest standards and you only have to deal with one company.


Once you’ve been approved and you’ve signed for your car, it’s time to either come and get it immediately or get it delivered to your front door. If you are local to the Lancashire area, like in Manchester, Leeds, Liverpool, Preston etc., you can come to our showroom in Blackburn and drive it away the same day. If you don’t have the time or are too far, we can deliver to (almost) anywhere in the UK!

At Hippo, we purchase a wide variety of used vehicles from all over the country to ensure the best quality and value for our customers. All of our used cars go through a thorough inspection process and if they do not meet our standards we do not sell them, at all.


We are one of the biggest, most trusted, used car finance companies in the UK, so why not see what we can do for you and your circumstances. Head to our website and fill in the quick form, or give us a call at 01254 956 777 any day before 17.30pm and we’ll be more than happy to discuss the best option for your used car finance.

Representative Example of Credit

We expect more than 51% of our customers to achive this rate.

Loan AmountTotal Cost of CreditRepresentative APR48 Monthly PaymentsDeposit AmountLoan TermTotal Amount Payable
£7,500£3019.1619.1% APR£219.77£048 Months£10,548.96

We are a broker not a lender and our registered office is Trident Park, Trident Way, Blackburn BB1 3NU. Our contact number is 01254 919000

Instant Car Finance Check
Like us on Facebook Follow us on Twitter Join us on Google+