Private Individual Finance Options
Personal Contract Purchase
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?
- Choose the car (new or used) you like
- Choose the most suitable repayment period
- Agree on your annual mileage
- You are given a Guaranteed Minimum Future Value which becomes your optional final payment
- You decide on the deposit and payments suitable for your budget
- 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?
- Fixed monthly payments mean you always know what you will be paying, so there are no nasty surprises
- A Guaranteed Minimum Future Value, so you know from day one the minimum you will receive as a part exchange in the future
- Lower monthly payments than traditional forms of funding because the final payment at the end reduces your monthly commitment
- 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?
- Choose the car (new or used) you like
- Choose the most suitable repayment period between 12 and 60 months
- You agree on a deposit and monthly repayment to suit your budget
- At the end of the agreement, as long as all the payments have been made, the car is yours
What are the benefits?
- At the end of the agreement you own your car with nothing further to pay
- Fixed monthly payments help with your budgeting
Personal Contract Hire
This option allows you to run a car without the worry of ownership or depreciation and giving you the option of having a maintenance package, so you have no unexpected bills.
How does it work?
- Choose the new car you like
- Choose the most suitable hire period, usually between 24 and 48 months
- Agree on your annual mileage
- Agree the rentals most suitable for your budget
- At the end of the agreement, simply hand your car back
What are the benefits?
- Fixed monthly payments with an option of having your servicing and maintenance costs fixed for the term
- No concerns over depreciation of the future value of your car
- No hassle trying to sell your car at the end of the contract