finance

finance

Financing your vehicle

Precious Metal are proud to offer some of the markets leading finance options to accommodate all budgets. Our dedicated team of professionals will help find you the perfect finance package with terms ranging from 24 through to 60 months and deposits starting from zero.

Why finance through a dealership?

PCP

PCP stands for “Personal Contract Purchase” which is one of the most popular and flexible packages on the market.

How PCP works

  1. You specify how much deposit you would like to put towards your deal.
  2. Our finance team will calculate your monthly repayments based upon an agreed annual mileage to suit your needs.
  3. Our finance team will calculate the Optional Final Payment (sometimes referred to as Guaranteed Future Value) depending on your driving requirements and contract term.

At the end of the agreement

You will have three options:
  1. You can either pay the guaranteed future value in full and own the car outright.
  2. Hand back the keys and walk away.
  3. Trade the car in by using any existing equity (if the guaranteed future value is lower than the current market value of the car) as a deposit for a new finance agreement.

If you want to hand the car back but have exceeded the forecast mileage you agreed at the start of the contract, you will need to pay an excess charge. You can settle a PCP agreement at any time.

Advantages of PCP

  1. Lower monthly payments than Hire Purchase for a comparable car and term.
  2. A low deposit at the start of the agreement.
  3. Unless you opt out, your agreement will be regulated which means you have certain legal rights and protections.
  4. Flexibility at the end of the agreement on what you would like to do with the car.
  5. Fixed monthly payments throughout the term of the agreement.

HIRE PURCHASE

Hire Purchase is a classic straightforward finance agreement where you pay a fixed monthly payment over an agreed term to own the car.

How Hire Purchase works

  1. You specify how much deposit you would like to put towards your deal.
  2. Our finance team will calculate your monthly repayments based upon an agreed term to suit your budget.
  3. At the end of the agreement once all payments have been made (including the option to purchase fee), ownership of the vehicle is transferred to you.

Advantages of Hire Purchase

  1. Low initial deposit.
  2. Fixed monthly payments.
  3. Choice of payment terms of 24 to 60 months.
  4. No mileage restrictions.
  5. Ownership of the vehicle at the end of the term.

Contact Us

If you have any questions about finance options, please contact us:

Our Finance Partners

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