Hire Purchase is still the most popular way of spreading the cost of your car. Just decide how much you want to borrow (you don't even need to pay a deposit) and repay with fixed monthly payments over any period up to 60 months. At the end of the contract the car is yours!

Features

Fixed Repayments - At the beginning of the agreement, both the amount you pay every month, and the repayment period, is fixed and will not change… great for budgeting!

Fixed Interest - Even if interest rates go up, the interest rate on your finance repayments will not be affected.

Flexible Payment Terms - Choose any period from 12 months to 60 months to suit your budget. You work out what you want to pay each month and we'll work out how many months to repay it over to get you into your ideal car.

Finance Example

The following example is based on a 3dr hatch and is for illustration purposes only. Please note that rates may vary; for an up to date quotation please contact us.

*Includes VAT, delivery charge, number plates, one year's road fund licence and first registration fee. **Includes £140 acceptance fee. ***Includes £95 credit facility fee.

For further information simply ask for a quotation when you enquire about your vehicle. We are a licensed credit broker and written quotations are available on request. Note that all finance is subject to status and indemnities may be required.

Personal Contract Purchase (PCP) could offer a lower cost and more flexible alternative to Hire Purchase. A lower monthly payment is achieved by allowing you to finance the difference between the price of the vehicle and the projected value of the vehicle at the end of the Contract Term. PCP also offers much greater flexibility at the end of the contract.

How It Works

At the end of the contract you can simple give the car back to Inchcape, trade it in for a replacement vehicle or buy it for the guaranteed future value set at the start of the contract.

PCP has been developed to allow you to change your vehicle more often than other forms of finance as effectively all you are paying for is the depreciation of the vehicle, and you have the comfort of knowing that we will guarantee to buy back your car back at the end of the contract at a pre agreed price set at the start, this price is known as the 'Guaranteed Future Value (GFV)'.

The contract can be set from 24 to 42 months allowing you the flexibility to decide how long you would like to keep the car before you change it. When you reach the end of the contract you have three options:-

Option 1 - If you think the vehicle is worth less than the GFV simple return the vehicle to us. As long as it's in good condition and has not exceeded the agreed mileage, you have nothing more to pay. We guaranteed this future value with you at the start of the contract, we will absorb the loss and allow you to choose a new vehicle and start again.

Option 2 - You can keep the vehicle by simple paying off the outstanding GFV

Option 3 - You can part exchange the vehicle against your new car and whatever trade-in value we give you greater than the GFV can go towards your deposit, and lower the monthly payments, on your new agreement. Alternatively, you could sell the vehicle privately and keep any profit over and above the GFV

Excess Mileage - At the beginning of the agreement, you decide on the total mileage you expect to do. If, at the end of the agreement, having chosen to hand your vehicle back, your mileage exceeds the agreed level, you simply pay a fixed amount for every extra mile.

Finance Example

The following example is based on a 3dr hatch and is for illustration purposes only. Please note that rates may vary; for an up to date quotation please contact us.

*Includes VAT, delivery charge, number plates, one year's road fund license and first registration fee. **Includes £140 acceptance fee. ***Includes £95 credit facility fee. Based on 10,000 miles per annum. Excess mileage charged at 6p per mile.

For further information simply ask for a quotation when you enquire about your vehicle. We are a licensed credit broker and written quotations are available on request. Note that all finance is subject to status and indemnities may be required.

Ross Car Sales Finance Application