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At Group we offer a wide range of finance options to suit our customers and aim to help every customer drive away in their ideal vehicle. We aim to understand your needs as thoroughly as possible and will then tailor or finance options to suit your specific requirements.
With a range of advantages such as lower monthly payments and a shorter term than that of personal loans, our finance packages add security and ease in purchasing your vehicle. Our finance options are intended to remove any additional hassle when purchasing a vehicle and makes the process as smooth and convenient as possible.
The finance plans available include Hire Purchase, Personal Contract Purchase, Lease Purchase and Contract Hire. We can also tailor finance packages to suit your needs, with features such as nil advance payment and Guaranteed Future Values. Our finance options are suited to individuals and businesses.
If you have had trouble getting a vehicle elsewhere then give us a call to see if we can help, we have flexible finance deals to suit all budgets. The vehicle finance options offered by Group help you to own your ideal car sooner and at a smaller cost than you may expect.
Please speak to an experienced adviser or enquire with our dealership near to find out more about our superb vehicles and your finance choices. If you have any queries or require a quotation, then please do not hesitate to contact us.
Personal Contract Purchase (PCP) is a finance product that allows you the opportunity to buy a new or a used car.
It is similar to a Hire Purchase agreement as you will usually pay an initial deposit, followed by monthly instalments over a term typically between 18 to 48 months.
What makes PCP different to Hire Purchase (HP) is that your monthly instalments are paying off the depreciation of the car, and not its entire value, over the course of the term. Then, 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. The balloon payment is often referred to also as the Guaranteed Future Value (GFV).
When you have chosen your vehicle, you will then agree your annual mileage and decide on the agreement term with one of our Business Managers.
We will then determine the Guaranteed Minimum Future Value (GMFV) of the vehicle at the end of the agreement and work out a deposit and monthly amount that works for you.
At the end of your agreement you will then have three options:
Return – Simply return the car the back to us
Retain – Keep the car by paying the optional final payment
Renew – Trade it in for another car
For a quotation, help, or advice contact us and ask to speak to one of our Business Managers
You can normally settle your agreement early by asking the finance company to provide you with a settlement figure. However, the finance company will require you to pay off the difference between what your car is worth, and what you still owe and there may be a difference which is known as negative equity. On the other hand, you may find that at the end of your term your car is worth more than the Guaranteed Future Value, which means you will have some positive equity to contribute towards your next car.
Hire Purchase is a way to finance buying a new or used car. You will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends, and you own the car outright.
The short answer is yes, you can end your finance early. There are different provisions within each finance agreement that allows you to do just that. If you have got through two-thirds of the way through your finance agreement, the options to end the finance agreement early open up.
For a Hire Purchase agreement, there is an option of paying it off early through a settlement fee. A settlement fee covers the cost of any remaining unpaid instalments and interest payments remaining on the agreement. Once the settlement fee is paid, you take full ownership of the car early.
