Long Term Auto Loans

Our ability to deliver secure and uncovered vintage financing solutions provides the flexible purchase financing from specialty dealers, retail outlets or vintage auctions. Employing our highly skilled, professionals, we are able to quickly find the financing solution best suited to your needs, with up to £1m in advance, long maturities of up to 10 years and NO deposit payment for you.

PCP deal, what is it? PCP is essentially a credit that is intended to make the lowest possible repayment on a month to month basis, but unlike a personal credit or hire-purchase contract you do not pay out the full value of the vehicle and you will not own it at the end of the contract unless you decide to do so.

Which is a hire contract? What is a PCP agreement? They then have to make a payment in kind, often 20-30% of the total amount. It calculates montly refunds which stay firm for the duration of the credit. Those montly instalments comprise the principal payment on the amount of the credit (purchase money - security money - balloon), the interest on the amount of the credit plus the interest on the value of the ballon.

A lot of different types of persons, some of them traders, do not know that interest is levied on the ballon item of the loans. Legally, this interest is higher than that levied on the redemption component of the arrangement and need not be included in the annual percentage of charge.

Just think, you want to buy a vehicle that you have seen and the cost on the windshield is 90,000, the forecast prospective rating (balloon payment) is 40,000 pounds and you have a down pay of 18,000 pounds (20%). At the end of the financial transaction, what happens? At the end of the transaction we said that you can buy the vehicle, but you don't have to - in fact you have three choices, but in the end you are obliged to make a choice at a certain point in the day.

Purchase the vehicle by making the payout. At the end of sometimes a PCP contract, the price of the vehicle will be slightly higher than the price of the ballon. Aiming to make credit more accessible on a month-by-month base, we have launched a 10-year old-timer financing instrument. There are two main advantages to this long-term hire purchase agreement.

Interest rate may differ according to the amount of the loans and your specific situation.