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CAR FINANCE

HIRE PURCHASE

Hire Purchase offers a straightforward way to spread the cost of buying a car. You pay a fixed rate of interest with fixed monthly payments , making budgeting simple and easy.

You choose the amount of deposit you wish to pay and the remaining balance, together with interest, is repaid over a period of 36 - 60 months.

The benefits of Hire Purchase:

• Low Deposit
doesnt tie up personal or business assets.
• Control
you decide the deposit, you decide the term.
• Fixed Monthly Payment
simple budgeting
• Flexibility
doesnt compromise your other lines of credit.
• Assets
you gain ownership of the car at the end of the agreement.
• Tax benefits
tax allowances for business users. VAT Free - no VAT on payments

HIRE PURCHASE WITH A FINAL PAYMENT PCP or LEASE PURCHASE

Hire Purchase with a balloon final payment offers a lower monthly payments, as at the end of the agreement you can make a final lump sum payment to purchase the car in full.

Its a fixed rate finance, but with a lower fixed monthly outlay since you defer repayment of some of the borrowing. At the end of the agreement you have vaious options, PCP return car to finance house, pay the final payment and own the car, refinance the final payment, part exchange the car or sell it.

The final payment is calculated based on the aniticipated mileage you will be covering, on which we calculate an estimated future value for the car.

The difference, plus interest, is repaid in equal monthly instalments over a period of 36-60 months plus the  final balloon payment.

Why Hire Purchase with a final payment?

All the advantages of Hire Purchase plus:

• Low Deposit
Lower payments can help you drive a higher specification car than you would normally. Especially useful if you are opting out of the company car scheme and have a monthly car allowance.