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Finance Finance Finance

BUYING YOUR NEXT CAR ON FINANCE?

PARKLANDS MOTORS HAVE THE RIGHT DEAL FOR YOU...

At Parklands Motors, we offer a selection of payment plans for you to find the right car loan. Our in-house fast track system allows us to arrange finance promptly and efficiently to ensure that you are getting the best value for money. We provide the facilities to offer flexible finance deals to suit almost any budget!

With the help of our team of finance specialist we have secured some key benefits

Finding your next car on finance can be just a few clicks away, browse through our extensive range of quality used cars and simply click on the apply for finance link (change to button) and one of our finance specialists we will be in touch to secure the best finance deals suitable to your budget.

With the help of our great panel of lenders we have secured some key benefits such as:

Fixed Rates

Your regular payment will not change over the contractual, despite fluctuations of the Bank of England base rate.

Low Deposit

We offer deposits starting with 0%.

Simple Set Up

Bring either your UK Driving License, recent bank statement, a utility bill, or your debit/credit card to you can take advantage of same day Finance Drive Away.

Please note that an admin fee is required of a £150 with any external finance company. Terms and conditions apply.

THE DIFFERENT FINANCE OPTIONS AVAILABLE

HIRE PURCHASE ALSO KNOWN AS PERSONAL CONTRACT HIRE (PCH)

This is the traditional finance option which is most commonly used when purchasing a used car on finance.

The Hire Purchase option allows you to pay a deposit towards the vehicle, in some cases a £0 deposit is available, this is then deducted from the price of the vehicle, which leaves a balance to be financed, interest is then added to the balance to be financed, the total balance plus interest is repaid over a number of months ranging from 6 to 60, the flexibility is decided by you to suit your needs although the age and mileage do have restrictions on the length of the loan, upon making the final payment at the end of your agreement, the vehicle is yours to keep with no further payments to the finance company.

You may use our finance calculator to determine a Hire Purchase option suitable to your budget by clicking here (link to iVendi calculator). After choosing your ideal vehicle on our website you can click the apply now button

Key Features of the hire purchase option:

  • Fixed Repayments - Your monthly payments and the length of the agreement will not change, ideal for cash flow control.
  • Fixed Interest Rate - The interest rate of your repayments will remain fixed for the whole length of the agreement even if any other interest rates increase.
  • Flexible Payment Terms -  Great flexibility, you can choose the length of our agreement, usually between 6 and 60 months.
  • Low Deposit - With the possibility of £0 deposit you are able to choose how much deposit you would like to put down, you can also part exchange your existing vehicle and use its value towards your deposit, or perhaps use some of your savings as a deposit.

PERSONAL CONTRACT PURCHASE

The Personal Contract Purchase (PCP) is an agreement where lower repayments are made for the vehicle through monthly instalments in addition to an optional final payment.

You can decide to either pay the final payment or return the vehicle to the finance company. It is common for customers to part exchange the vehicle for their next purchase, as the part exchange value is used to settle the final payment. Thus, the PCP payment plan allows you to drive a vehicle of a higher specification for lower monthly instalments.

You may inquire a member of our finance specialist team for an estimation of your vehicle's value at the end of your contractual period.

Key features of PCP:

Fixed repayments
As the repayment period is fixed, your monthly sum will not change.

Flexible terms

You can later decide whether you would like to make the final payment and keep the vehicle, part exchange it, or hand it back to us.

Affordability
Low sums of monthly repayments will be arranged to suit your budget.

Financial Security
Our experts can notify you the minimum value of your car at the end of your agreement in advance.

CAR LEASING

This is a great option for cars of higher value, new or nearly new cars, and for those who want a hassle-free driving without the worry of the cars devaluation at the end of the agreement, in effect it is a long term car rental agreement which will also have the same sort of restrictions, it involves making lower monthly repayments and the ability to start a new agreement when the old one finishes, enabling you to drive a new car every few years.

Lease Purchase agreement periods are commonly fixed terms ranging between 2 and 4 years and also with mileage limits.

Key features of Leasing:

Lower Monthly Repayments
Low sums of advance repayments will be made before the balloon payments.

Flexible Payment Terms
You can choose the length of the agreement.

Optional new vehicle at the end of agreement
At the end of the agreement you can opt to start the agreement again with a new vehicle.

Maintenance packages can be included
Included in your monthly cost you can add servicing and tyres maintenance so complete peace of mind

For more information and queries on any of our finance options contact our team on 01509 232232. Written quotations are available upon request.