Private Individual Finance Options
Personal Contract Hire
This is the most popular way to pay for a car and is ideal for customers who wish to change their car at intervals between 24 and 48 months, taking away the worry of depreciation.
How does it work?
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Choose the car (new or used) you like
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Choose the most suitable repayment period
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Agree on your annual mileage
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You are given a Guaranteed Minimum Future Value which becomes your optional final payment
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You decide on the deposit and payments suitable for your budget
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At the end there are three choices for you; part exchange your vehicle for another car, keep the car and pay the final payment or hand it back and have nothing further to pay.
What are the benefits?
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Fixed monthly payments mean you always know what you will be paying, so there are no nasty surprises
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A Guaranteed Minimum Future Value, so you know from day one the minimum you will receive as a part exchange in the future
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Lower monthly payments than traditional forms of funding because the final payment at the end reduces your monthly commitment
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Changing your car regularly saves money on repairs and maintenance
Hire Purchase
The most straight forward method of purchase. Ideal for a customer who desires outright ownership of their car and probably changes their car at intervals of greater than 48 months.
How does it work?
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Choose the car (new or used) you like
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Choose the most suitable repayment period between 12 and 60 months
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You agree on a deposit and monthly repayment to suit your budget
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At the end of the agreement, as long as all the payments have been made, the car is yours
What are the benefits?
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At the end of the agreement you own your car with nothing further to pay
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Fixed monthly payments help with your budgeting