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The Internet Car Showroom works with the biggest names in the car finance to provide you with the widest range of finance facilities as described below.


Hire purchase

Hire purchase (HP) is very similar to borrowing a sum of money from a bank and paying it back over a fixed period of time, with interest. Hire Purchase is a type of secured loan which are often preferred over alternative (unsecured) loans because they allow a greater borrowing limit. The Term “secured loan” means exactly that, a loan that the lender can secure against an asset (in this case, the vehicle). HP gives you additional rights over those of a personal loan and is only available through dealers that have passed the string net approval process of the finance companies.


Low Payment Plan

Low payment plan will enable you to purchase your next car with lower monthly payments.The way this is achieved is by deferring an amount of the total cost of the vehicle to the end of the agreement. This amount is known as residual value (RV).

It is the customers responsibility to settle the final payment either though additional finance, cash or settle by part exchange.

The Low payment plan product has no tie to a mileage contract. Repayment periods are typically taken over 2,3 or 4 years and settlement can be made of the agreement. We would recommend that you select your anticipated annual mileage to realistic level so that a realistic Residual value is set for the vehicle. At the end of the agreement you have three options :

•  If you want to keep the vehicle, you can simply pay off or refinance the outstanding balloon payment.

•  You can come back to us and part exchange your vehicle for a new one. If the trade in value is greater than the RV, the difference can be used towards a deposit on the next agreement.

•  You can sell the vehicle privately and keep any profits over and above the RV.

 

Personal Contract Purchase

A personal contract purchase (PCP) plan will enable you to purchase your next car with a lower monthly repayment. The way this is achieved is by deferring an amount of the total cost of the vehicle to the end of the contract. This amount is known as the guaranteed future value (GFV). The guaranteed future value plus your deposit is subtracted from the cash price of the vehicle and your monthly payments are based on the balance (plus interest on the balance and the (GFV). By only repaying the difference between the cash price and the optional balloon payment you are only financing the depreciation of the car. At the end of the contract you have four options:

 

  • You can return the vehicle to the finance company. As long as you have not exceeded the agreed mileage, you will have nothing moreto pay.
  • If you want to keep the vehicle, you can simply pay off or re finance the out standing balloon payment.
  • You can come back to us and part exchange your vehicle for a new one. If the trade in value is greater that the GFV, the difference can be used towards a deposit on the next agreement.
  • You can sell the vehicle privately and keep any profit over and above the GFV.

 

Credit problems – No problem

Our dedicated finance team are on hand to get your new car financed even if you have had past credit problems or no credit history. Great cars and affordable payments call in today and find out just how easy it is to drive away your new car.


Impartial Advice

We are confident that our products are suited to a wide range of finance needs, but if you are not sure then the Finance and Leasing Association have produced impartial guide to motor finance. Their simple guide to your finance options will explain how the different and their finance decider tool will help you choose which product is the most suited to your needs. www.fla.org.uk


Why Apply Online?

  • You are in no way obliged to buy the vehicle, but by applying you register an interest in the vehicle.
  • You can submit your details at any time, our system is availiable 24hrs a day for your convenience.
  • By arranging your finance in advance you can have the comfort of knowing your finances are in place.
  • The whole process is confidential with no need to disclose personal details to our operatives.
  • The service is provided on a secure server so your details are kept totally safe.

Glossary

  • APR (Annual percentage rate) – a standard method of calculating the full cost of interest and other charges on the finance. You should use the APR to compare the costs of different finance options, although some business leasing agreements will not show an APR.
  • Balloon Payment – a one off payment made by you at the end of some finance agreements. It will reduce your monthly.
  • Credit Rating – a scoring system use by finance companies to help decide how much finance to make available to you. Click here for more information.
  • Flat Rate – the base internet rate charged on the finance. Dealer will sometimes quote a monthly or annual flat rate but you should ask for the APR, which more accurately describes the true cost of the finance.
  • Guaranteed Future Value (GFV) – it is the lowest amount that your car is guaranteed to be worth at the end of the contract purchase deal and will usually be the same at the deferred amount on the finance.
  • Residual Value – the value of your car at the end of the finance agreement, after a certain time and mileage. It May not be guaranteed, depending on the terms of your agreement.
  • Total Amount payable - the total cost of the finance, including any interest or other charges, if you repay the finance over a agreed period. This is a good way to compare the actual cost of various types of motor finance,
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Whilst every effort has been made to ensure the accuracy of information on this website, some errors may occur. It is important you do not rely soley on this information but check with the internet car showroom about any details you feel will affect your decision to purchase. No liability is accepted for loss or damage resulting from errors or omissions on this website.
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