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We offer the following finance options.
- Hire Purchase (HP) is very similar to
borrowing a sum of money from a bank and
paying it back over a fixed period of
time, with interest. Hire Purchase is
a type of secured loan which are often
preferred over alternative (unsecured)
loans because they allow a greater borrowing
limit. The term "secured loan"
means exactly that, a loan that the lender
can secure against an asset (in this case,
the vehicle). HP gives you additional
rights over those of a personal loan and
is only available through dealers that
have passed the stringent approval process
of the finance companies.
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- Low Payment Plan will enable you to
purchase your next car with lower monthly
repayments. The way this is achieved is
by deferring an amount of the total cost
of the vehicle to the end of the agreement.
This amount is known as the Residual Value
(RV).
It is the customers responsibility
to settle the final payment either though
additional finance, cash or settlement
by part-exchange.
The Low Payment Plan product and has
no tie to a mileage contract. Repayment
periods are typically taken over 2,
3 or 4 years and settlement can be made
at any stage of the agreement. We would
recommend that you select your anticipated
annual mileage to a realistic level
so that a realistic Residual Value is
set for the vehicle. At the end of the
agreement you have three options:
- If you want to keep the vehicle,
you can simply pay off or refinance
the outstanding balloon payment.
- You can come back to us and part
exchange your vehicle for a new one.
If the trade-in value is greater than
the RV, the difference can be used
towards a deposit on the next agreement.
- You can sell the vehicle privately
and keep any profit over and above
the RV.
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- A Personal Contract Purchase (PCP) plan
will enable you to purchase your next
car with lower monthly repayments. The
way this is achieved is by deferring an
amount of the total cost of the vehicle
to the end of the contract. This amount
is known as the Guaranteed Future Value
(GFV).
The Guaranteed Future Value plus your
deposit is subtracted from the cash
price of the vehicle and your monthly
payments are based on the balance (plus
interest on the balance and the GFV).
By only repaying the difference between
the cash price and the optional balloon
payment you are only financing the depreciation
of the car.
At the end of the contract you have
four options:
- You can return the vehicle to the
finance company. As long as you have
not exceeded the agreed mileage, you
will have nothing more to pay.
- If you want to keep the vehicle,
you can simply pay off or refinance
the outstanding balloon payment.
- You can come back to us and part
exchange your vehicle for a new one.
If the trade-in value is greater than
the GFV, the difference can be used
towards a deposit on the next agreement.
You can sell the vehicle privately
and keep any profit over and above
the GFV.
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- Credit Purchase is structured in the
same way as a Personal Contract Purchase
(PCP) in that a capital lump sum amount,
known in this instance as the Residual
Value (RV), is deferred to the end of
the agreement. The RV reduces the regular
monthly payments and makes more expensive
vehicles far more affordable.
Unlike PCP, Credit Purchase offers
no option to return the vehicle to the
finance company at the end of the contract
and is a loan agreement. It is the customers
responsibility to settle the final balloon
payment either though additional finance,
cash or settlement by part-exchange.
Credit Purchase repayment periods are
restricted to 60 months (5 years) and
so is only suitable for customers looking
to take out finance over a long period
of time although settlement can be made
at any stage of the agreement. Customers
will normally benefit from lower monthly
payments due to the long contract period.
In addition, there is no tie in to a
mileage contract, although you will
asked for your annual mileage so that
we can estimate a meaningful Residual
Value.
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If you would like to apply and finance your new
vehicle simply click though the options given
on each of our vehicles in our used car showroom. |
| Wavertree Car Centre provide a wide range
of finance facilities which are described below
and fully integrated into our web site. From the
comfort of your own home you can view all the
available finance products for your next vehicle
and generate your own personalised quotations
by changing the deposit, term and annual mileage.
In addition, you can complete an application
through our secure on-line proposal form which
will pass your information directly to our finance
company, Jigsaw Finance Ltd. You will then be
guided through the process by them. In gaining
pre-approval it allows you to make a considered
choice on your next car purchase in a quick and
convenient manner through a greater selection
of finance products.
- Find your vehicle
- Choose your finance product
- Tailor your quotation
- Apply on-line
- Visit us and view the car
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