Finance
We offer a range of Personal Finance options available to help YOU decide on the best way to purchase your vehicle. For a quotation, information, help, or advice on which option would suit your needs, give us a call and ask to speak to our Business Manager or click on the email link below.
PERSONAL FINANCE OPTIONS
HIRE PURCHASE
If you are a customer who prefers to have ‘ownership’ of your vehicle then this method of purchase could be ideal for you. The popularity with Hire Purchase comes from its flexibility of deposit and repayment periods up to 60 months, thereby allowing customers to have a fixed monthly payment which best suits their budget.
PERSONAL CONTRACT PURCHASE (PCP)
Ideal for those customers changing or upgrading their car typically at intervals of between 24 months and 36 months. PCP makes it easier for the customer to afford those cars that would normally be considered ‘out of budget’. At the end of the contract there are 3 choices, outright ownership, part exchange for a new car, or hand back the car and walk away with nothing further to pay.
PERSONAL CONTRACT HIRE
This product works in exactly the same way as corporate contract hire with the exception of the VAT treatment. The contract is between the lender and the driver and they can include maintenance and comprehensive insurance in the monthly rental. There is no option to retain the vehicle at the end of the contract
BUSINESS USER FINANCE OPTIONS
HIRE PURCHASE
An easy and highly flexible method of purchase, ideal for customers who prefer to have ‘ownership’ of their car. Hire Purchase is very popular because it offers a wide range of deposit and repayment periods up to 60 months, thereby allowing customers to have a fixed monthly payment which best suits their budget.
FINANCE LEASE
Another ‘business user’ facility, monthly rentals attract VAT. Attractive to businesses that can take advantage of accelerated tax benefits and a proportion of VAT can normally be reclaimed.
VARIABLE RATE & BALANCED PAYMENT PLAN
Applicable to ‘business users’ and finance balances over £15000. Offers ownership with flexible deposit and repayment periods allied to interest rates linked to Finance House Base Rate.
CORPORATE CONTRACT HIRE
Contract Hire is an operating lease whereby fixed rentals are calculated representing the finance and depreciation of a vehicle.
Risks of ownership are underwritten by the lessor and, typically, service packages are attached to the rental to provide a comprehensive vehicle management solution.
ADDITIONAL PRODUCTS
GUARANTEED ASSET PROTECTION (GAP)
If your vehicle should be stolen or declared a total loss in an accident, there might be a difference between the amount your insurance company pays and the amount you paid. GAP Protection will pay this difference and covers your vehicle for up to 3 years to ensure that you are not out of pocket.
PAYMENT PROTECTION
Accident, sickness, involuntary unemployment. None are pleasant, but all could happen - and all could mean loss of income. We offer a range of OPTIONAL Payment Protection plans to ensure that if the unforseeable happens that you are prepared and your rsik is suitably covered.
Terms and Conditions will apply to all our finance products above. For full details, terms and conditions, help or advice give us a call. Droitwich Garage Limited is regulated by the Financial Services Authority.
