Finance
Whether you're a 'Private' or 'Business' user there are a number of different low cost finance options available to fund you next car, and we would be happy to provide you with a personalised, tailored quotation on any of the packages detailed below. Simply click here to complete our ‘Quick Finance Quote’ form and we'll get back to you with a detailed quotation to best match your requirements.
We will find you the most competitive package we can and contact you directly at a time to suit you in order to provide you with a personalised finance quotation and maybe discuss your options in greater detail.
In most instances we will allow the supplying dealer to provide a comparative finance quote, this way you’ll be safe in the knowledge that you are being offered the same deal by the manufacturer as if you were stood in the dealer’s showroom.
The most common forms of car finance are:
Hire Purchase* - This is often considered as the most straightforward way in which to finance your car purchase. After agreeing how much deposit you would wish to pay, the outstanding balance, including a change for interest is paid in equal instalments over a fixed period of time. Once the final payment has been made then the car is yours to either keep or trade in again against your next car.
Personal Contract Purchase (PCP)* - Personal Contract Purchase or PCP has becoming a more increasingly popular way for people to finance their new cars. A flexible deposit can be agreed, along with the length of the contract and an estimated annual mileage. At this stage the finance house confirms with you a ‘guaranteed minimum future value’ for your car. This guaranteed future value is just that - ‘guaranteed’ and has the effect of reducing your monthly payments as this value is not paid back monthly, only the interest on this amount is charged.
At the end of the agreement you then have one of three choices to make:
- Pay the ‘guaranteed future value’ figure yourself and keep the car.
- Part exchange the car and use the vehicles value above the guaranteed value as a deposit in full or part against your next new car.
- Simply hand the car back to the finance company and walk away
Finance Lease* - A package usually considered by business users it can offer more flexibility than a PCP agreement but without the guarantees. Once an initial deposit has been agreed of usually between 3 and 6 months rental, the monthly repayment can then be adjusted by either increasing the deposit at the front end of the agreement or alternatively increasing the ‘balloon payment’ at the end of the agreement. A VAT registered business client may then be able to claim back a percentage of the VAT on the payments.
Unlike a PCP deal the ‘balloon payment’ is not guaranteed and therefore a prudent approach should be taken when finalising this amount. However reducing your monthly payments can then have a positive effect on your monthly budget and cash flow.
Contract Hire/Leasing* - A finance package again usually considered by most business users. Contract hire provides off-balance sheet funding and a fixed monthly cost payment that can either include or exclude your cars maintenance. Again it can be taken over various terms and agreed annual mileages, the deposit amount usually being between 3 to 6 times one months rental. A VAT registered business client may then be able to claim back a percentage of the VAT on the payments.
At the end of the agreement, subject to the cars agreed annual mileage having not being exceeded, the condition of the vehicle being acceptable, all payments have been made and any terms and conditions of the contact have been met, simply hand the car back and start again.
*In most instances a documentation fee is payable with both the first and final instalments, these will be explained in full prior to any agreement being signed. Finance rates of interest vary for different cars, finance houses and products, the balance to be financed and the length of term, again these rates will be fully explained prior to finalising any agreement. Certain finance packages are subject to an annual mileage not being exceeded, in instances where this happens an additional mileage change may be made. Certain finance packages are subject to the vehicle being maintained and/or kept in a condition commensurate with age and mileage, again certain charges may apply where this is not the case. All finance packages are subject to Terms and Conditions which are available on request.
Cheaper Car Finance:
As you can see there are a number of different ways in which you could possibly pay for your car. We hope that we may be able to help you save more money by allowing us to quote you on either one of our flexible finance options or from those that are available from our main UK dealer and manufacturer sources.
Alternatively if wish to organise your own car finance please see our payment terms outlined in the ’Payments’ section in ‘About Us’ on this site.
In order to finalise any finance agreement we may need you to complete either our ‘Private Users Finance Proposal’ form or ‘Business Users Finance Proposal’ form. Alternatively this information can be taken over the telephone should you so wish.
