Car finance from carsandfinance.com
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Regardless of whether you are purchasing your new car from us or not we have a great loan waiting for you. The sheer number of car finance packages available added to the number of personal loans on the market can make financing your new car seems bewildering.
Add to this the misleading sales tactics used by some banks and lenders and you can understand why people seem to spend more time hunting for their finance not their dream car.
Cars and Finance are one of the few finance providers who will offer you a choice of Personal Motor Loan, Personal Contract Purchase (PCP) or Lease Purchase
All products represent excellent value for money and our motor loan product has a typical APR of just 6.9%. No catches, no excuses or small print clauses, just one great rate for all our customers.
Regardless of which loan type (explained below) you choose we guarantee:
- Your rate is fixed for the whole loan period
- We have no hidden funds transfer fee's or courier charges not factored into the APR
- Our customers get our advertised APR's
- Our life, accident, sickness and unemployment cover costs just 8% of your monthly payment
Our Products Explained
Motor Loan
Personal Motor Loans (or Hire Purchase depending on your loan amount) have certain advantages. Typically you do not require any deposit, so you can borrow the full purchase price. You also have one fixed monthly payment with no final payment to find. The downside is that the monthly payment is higher than for a Car Purchase Plan. Our personal motor loans are available over periods from 1 to 5 years and customers can borrow up to £35,000.
Lease Purchase
Lease Purchase is an excellent choice if you want to keep your repayments down because it allows you to defer the repayment of part of the loan to the very end of the loan, when a final payment becomes due. At the end of the loan you have two choices to either pay off the outstanding amount and take full ownership of the car or sell the car and use the money to settle the deferred balloon amount. Cars and Finance can help provide finance for the balloon payment if required or repurchase the vehicle from you when the balloon falls due. Lease purchase is a great way of affording to purchase executive and prestige vehicles. Our Lease Purchase loans are available over 2, 3 or 4 years and customers can borrow up to £50,000.
Personal Contract Purchase (PCP)
Personal Contract Purchase is an extremely popular method of funding a new car favoured by individuals and drivers opting out of a company car scheme. It offers low fixed monthly repayments with a choice of flexible options at the end of the contract.
Your cars future value is calculated based on your annual mileage and offset to the end of the contract by means of a guaranteed future value, at the end of the contract you then decide to either:-
1) Buy the car by paying the agreed minimum future value
2) Part-exchange the vehicle for another
3) Pay the agreed minimum future value and sell the vehicle privately
4) Or, subject to mileage and condition, return the car with nothing more to pay
PCP is ideal for drivers opting out of a company car scheme. You use your company car allowance to fund your PCP monthly payments without having to pay company car tax.