FINANCE OPTIONS AVAILABLE
We work closely with a careful picked team of brokers who are able to give you extremely competitive quotes on the vehicles we have offered for sale.
The brokers we work with are very easy to work with and very transparent. They can go through the different types of finance on offer to you and which will work best for you. They are happy to run through various quotes with you to get you to the figures you want to proceed forwards with.
Here is a little bit more about the different finance options available to you:
HIRE PURCHASE
ALSO KNOwn AS HP
On a Hire Purchase agreement, you will normally pay an initial deposit and will pay off the entire value of the vehicle in monthly instalments. When all the payments are made including any option to purchase fees, the Hire Purchase agreement ends and you own the vehicle.
PCP
ALSO KNOWN AS PERONAL CONTACT PURCHASE
Personal Contract Purchase (PCP) is similar to a Hire Purchase agreement as you will usually pay an initial deposit, followed by monthly instalments. What makes PCP different is that your monthly instalments are paying off the depreciation of the car, and not its entire value, over the course of the term. When you get to the end of your agreement, there is a final balloon payment that must be made if you want to keep the car, either in a lump sum or by refinancing the balloon. Other options include handing the car back to the lender (subject to acceptable condition and being within the agreed annual mileage), and part exchanging the car for a new one.
LEASE PURCHASE
ALSO KNOWN AS HIRE PURCHASE + BALLOON
Lease purchase works very similarly to PCP and is in essence the same concept. The major difference between the two is that the balloon payment is not a guaranteed future amount where you can simply hand the car back to the lender, so it must either be paid in full, refinanced onto a new agreement, or the vehicle part exchanged for a new one.