Finance a Vehicle:
At Position One Motor Company, we provide flexible finance options that are tailored to your specific needs. We work with a range of lenders to help you find the best possible finance option to suit your budget and lifestyle.
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What is Vehicle Finance?
Vehicle finance is a method of purchasing a vehicle without having to pay the full amount upfront. Instead, you make monthly payments over a fixed term, making it easier to manage your finances. Vehicle finance options include hire purchase, personal contract purchase, and personal loans.
Why Finance a Vehicle?
There are many benefits to financing a vehicle. Firstly, it allows you to spread the cost of the car over a fixed period, making it more affordable. Secondly, it can help you to manage your cash flow, as you don’t have to pay the full amount upfront. Lastly, it can also help you to improve your credit score if you make your payments on time.
THE TYPES OF Vehicle FINANCE:
At Position One Motor Company, we offer a range of vehicle finance options that are tailored to your specific needs. Whether you’re looking for a personal or business vehicle, we have the right finance solution for you. Here are the different types of vehicle finance we offer:
Type of Finance | Ownership | Monthly Payments | End of Term Options | Excess Mileage Charges | Additional Charges |
Hire Purchase (HP) | Owned outright | Fixed | Own car outright | Yes | Yes |
Personal Contract Purchase (PCP) | Options to own or return car | Lower than HP | Pay balloon payment, return car, or use value as deposit for new agreement | Yes | Yes |
Personal Contract Hire (PCH) | Not owned | Lower than PCP | Return car | Yes | Yes |
Business Contract Hire (BCH) | Not owned by business | Lower than PCH | Return car | Yes | Yes |
Lease Purchase | Option to own | Lower than HP | Pay balloon payment or return car | Yes | Yes |
Personal Loan | Owned outright | Fixed | N/A | N/A | N/A |
Balloon Hire Purchase | Owned outright | Lower than HP | Own car outright | Yes | Yes |
Note: The information in this table is a general overview and may vary depending on individual circumstances and agreements. It is always recommended to consult with our financial advisor before making any finance decisions.
