As experts in the marque, Lutterworth Ford can advise across the selection of nearly-new and used cars. When you are in the process of purchasing a new car, you may have a lot of questions about paying through finance. Many drivers are now purchasing cars through finance plans, particularly new models, as it allows people to enjoy the perks of a new model while spreading the cost.
There are two main types of finance deals. Firstly, a Personal Contract Purchase (PCP) requires a low initial deposit and, usually, low monthly payments spread out over a fixed period of time. At the end of the contract you have three options:
· Pay a final lump sum – or balloon payment – to own the car outright
· Return the car and start up a new PCP with a different car
· Return the car and walk away
Your second choice for a finance plan is Hire Purchase (HP). Here, you can pay a slightly larger deposit with, usually, a shorter contract period. Once you have made the final payment at the end of the contract, the car is officially yours.
Experts at Lutterworth Ford can advise across the various finance plans and help you decide on a plan that is right for you, whichever model you choose. Call the team now or enquire online.