Magnitude Finance

Magnitude Finance: car finance with an online comparison tool

Magnitude Finance is a UK-based credit broker that presents itself as a digital tool for obtaining car finance. The company does not act as a lender, but instead acts as an intermediary between the customer and a wide selection of financial institutions. Its proposition centres on an online calculator that allows you to obtain PCP and HP finance quotes in just a few steps, as well as a process that can be completed digitally.

Finance products

The firm structures its offering into several options. PCP (Personal Contract Purchase) is described as the most popular form of car finance in the UK, with typically lower monthly payments thanks to the guaranteed final payment or balloon provided by the lender. At the end of the contract, the customer can keep the vehicle, trade it in as part payment, or return it. HP (Hire Purchase) is a more traditional agreement in which the full value of the vehicle is paid in fixed instalments over a typical period of five years, with fewer age and mileage restrictions than PCP, and ownership transfers upon making the final payment.

They also offer Lease Purchase, a specialist product aimed at higher-value vehicles that requires qualification by the lender. In this case, the balloon is specifically tailored to the financed vehicle and the fixed instalments are usually lower than those of PCP. In addition, the company has bespoke options for unique financial situations, with access to a concierge team and alternatives more focused on businesses.

Process and customer service

Representative examples from the catalogue

The site shows examples of PCP finance for specific models. For a BMW M2 Competition with a cash price of £37,500, a deposit of £4,000 and an amount financed of £33,500, the monthly payment is £503.16 over 48 months, with a guaranteed final payment of £18,929 and a total amount payable of £46,587.52. For a Mercedes CLA35, with a price of £27,000 and a deposit of £3,000, the monthly payment is £319.70, with a final payment of £15,841. In the case of a Porsche Macan, with a price of £43,000 and a deposit of £5,000, the monthly payment is £508.46 and the final payment is £24,961. All examples share a representative APR of 8.9% fixed and a limit of 6,000 miles per year.

Transparency and terms

The company explicitly states that it acts as a credit broker and not as a lender. The representative examples include the APR, the total cost of credit and the mileage terms, with excess mileage charges. Finance is subject to approval and available only to those aged 18 or over.

Location and contact

Phone: 01943 660703 · Opening hours: Monday to Friday: 09:00-18:00; Saturday: 10:00-16:00; Sunday: closed