We have partnered with Octane Finance, the UK’s fastest growing Car Finance Broker. They compare a variety of car finance products to ensure you get the best deal when purchasing your next vehicle. Octane Finance have access to high street banks and lending corporations, as well as some of the more specialist and niche car finance companies. Their team take a personal approach to finance and cater for all credit profiles, ensuring the best outcome for our customers.
Hire Purchase (HP)
A simple way of financing that gives you the certainty of a fixed interest rate, and fixed monthly payments throughout the agreement. The initial deposit and repayment period can be structured to help meet your budget and the length of time you expect to keep the car. You can trade in your existing car and put this towards the initial deposit, or if you wish, just put down a cash deposit.
- After paying the initial deposit you make regular monthly payments to cover the amount borrowed plus any interest and fees
- The interest rate is fixed which means you'll know exactly how much you will repay throughout the term of the agreement
- Once all of the payments have been paid the car is yours
- Features and Benefits Fixed monthly repayments
- Flexible Deposit Ownership of Car
- Budget with confidence
- Freedom, no mileage restrictions
- Ability to settle loan early
Personal Contract Purchase (PCP)
Similar to a Hire Purchase agreement but with additional flexibility since part of the cost is deferred until the end of the agreement which may give you the benefit of lower monthly payments. The deferred amount is known as the Guaranteed Future Value (GFV) sometimes known as Optional Final Payment.
What happens next?
At the end of your PCP agreement you then have a number of options.
Option 1: Part-exchange your vehicle-use any equity above the Guaranteed Minimum Future Value as an initial deposit on your next purchase.
Option 2: Keep your vehicle- simply pay the Guaranteed Minimum Future Value to retain ownership.
Option 3: Refinance the final balloon payment. Option 4Return your vehicle and have nothing further to pay, subject to vehicle condition and within the agreed mileage terms. (Subject to terms and conditions).
Features and Benefits
- Flexible deposit
- Low fixed monthly payments
- Choice at the end of the agreement
- No need to worry about depreciation
- Potential lower payments than a standard HP agreement or Conditional Sale
Are you looking for a particular car? Message our sales team to help find your dream car.
Bexhill Motoring Centre is a credit broker and not a lender. We are Authorised and Regulated by the Financial Conduct Authority. FCA No: 967003 Finance is Subject to status. Other offers may be available but cannot be used in conjunction with this offer. We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. We may receive a commission from some lenders/brokers for introducing customers to their products.
- Why Finance Through a Dealership?
- What is Hire Purchase?
- What is Personal Contract Purchase?
We are a credit broker and not a lender.
We are able to introduce you to a limited number of lenders and their finance products which may have different interest rates and charges.
We do not charge a fee for our credit brokering services provided to you, however the lender we introduce you to, we will typically receive commission from. This will be either a fixed fee or a fixed percentage of the amount you borrow.
The lender we work with may pay commission at different rates. However, the amount of commission that we receive from a lender does not have an effect on the amount that you pay to the lender under your credit agreement.
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