FG Barnes Nissan in Guildford can help you pay for your vehicle in the way that best suits you. We are a licensed credit broker, which means we are able to offer you a range of finance plans and lending options. It is well worth considering our finance plans over borrowing from different sources, as we are specialists in car finance, allowing you to use other credit sources for other purchases.
Hire purchase agreements work very much like a smaller-scale version of a mortgage on your house. You pay a deposit up front, and we agree a period with you to pay off the remaining balance in the form of fixed monthly payments. Once you have made the final payment, the car is fully yours.
The term of the agreement usually runs over 18-60 months. This agreement is often preferred by drivers who plan to keep their vehicle for a longer time after the end of the payment term, rather than opt for another new vehicle straight away.For more information on hire purchase, take a look at our video or get in touch with us at FG Barnes Nissan in Guildford.
A lease purchase also works on the basis of a deposit followed by regular monthly payments over an agreed term.
With lease purchase, the monthly payments are often lower, with a larger final payment, often called a balloon.
For more information on lease purchase, take a look at our video or get in touch with us at FG Barnes Nissan in Guildford.
PCP stands for Personal Contract Purchase and is available under the Nissan Preferences title at Bishops of Guildford. Much in the same way as hire purchase agreements, with the PCP arrangement you pay a deposit and then have fixed monthly payments over an agreed term.
Usually however, the term is shorter with PCP, because you do not pay off the whole cost of the car. Once the shorter term has finished, PCP offers you three options, the first of which is to return the car to us without paying the remaining balance, which means you have effectively been renting the car over the term of the agreement. Secondly, you can pay the remaining balance, termed the Guaranteed Minimum Future Value and keep the car. Lastly, you can opt to part exchange your car. We will assess the value of your vehicle at the end of the term, and if it is worth more than the GMFV, you can use the difference as a deposit on your next vehicle.
PCP agreements are more flexible than other types of finance, and are often preferred by drivers who like to upgrade their vehicle on a more regular basis.
Get in touch with FG Barnes Nissan today for more information on any of our finance or insurance products. You can also drop into our Nissan showroom in Guildford to discuss the options available to you with one of our Nissan advisers.