Sharp Funding Android Touch

We’re here to help.

Vehicle Motor Finance.

There are two types of Vehicle & Motor Finance available. It’s all about choosing the right option for you, something that fits your requirements. The alternative is a Personal Loan.

Get a Quote
Audi Q7

A new or used car purchase can be financed through hire purchase. They are typically over a period of 2-3 years but can also be stretched to 5, to suit your needs. Unless defined by the lender, you can agree on an initial payment for the agreement (deposit).

Hire Purchase includes a final payment which, when made, you own the vehicle / motor. It’s yours.

This gives the lender extra protection in the event of payment issues because they retain ownership of the car until the end of the contract. Because they maintain possession of the vehicle until you make your final payment, the lender is also able to provide you with more enticing terms and conditions.

  • Additional Protection over a Personal Loan
  • Straightforward Application Process
  • Keep existing Credit Lines free
  • Once the final payment is made, you own the vehicle
  • Save paying interest if you can settle the finance early
  • Payment and Terms that meet your budget
  • The Finance is secured against the vehicle which means, missing payments could lead to the vehicle / motor being repossessed

A popular finance agreement for those who like to change their cars between 2 to 4 years.

Similar to a Hire Purchase agreement (HP), Personal Contract Purchase (PCP) consists of an initial payment (deposit). The payments of a PCP agreement are towards the depreciation value of a vehicle & motor, whereas, HP payments are towards the ownership of a vehicle & motor.

A PCP works with 3 basics which are:

  • Deposit and Payment: Tailored for your requirements
  • Annual Mileage: Tailored for your requirements (how many miles you can do per year)
  • Guaranteed Minimum Future Value: Balloon payment (final payment) which, is the expected value of the vehicle at the end of the agreement

At the end of a PCP agreement, you have a few choices. You can:

  • Own the Vehicle / Motor: simply by making the final payment (you can also finance this)
  • End the Agreement: Giving the Vehicle / Motor back to the finance company
  • Part Ex: Exchange the Vehicle / Motor for something else
  • Low Deposit
  • Lower Monthly Payments compared to Hire Purchase
  • Flexible Options at the end of the PCP Agreement
  • Specified Guaranteed Minimum Future Value which, protects you from market fluctuations
  • Option to change the Vehicle / Motor more frequently (2-4 years)
  • The Finance is secured against the vehicle, similar to a Hire Purchase, meaning, the vehicle may be repossessed if you miss payments
  • If you exceed the agreed annual mileage, you may be charged an excess mileage fee at the end of the agreement

We are a passionate team

Need more help choosing the right Vehicle Motor Finance?

Not a problem. Contact us using any of the contact methods from our website. We’d be more than happy to help guide you in choosing what’s best for you!

Get in Touch!