Ways to buy your vehicle

There are two simple ways we can help you buy your vehicle
For all enquiries please contact us on
(01228) 595 939

LEASE PURCHASE

Lease Purchase offers all of the benefits of Hire Purchase but with the addition of deferring part of your loan until the end of the agreement.

This gives you a larger final payment, which is sometimes referred to as a balloon payment.

To do this, we’ll discuss the vehicle you’re buying and base the final payment on how many miles a year you’ll be traveling and what the estimated value of the vehicle will be at the end of your loan.

This has the affect of lowering your monthly repayment and may allow you to buy a newer or more expensive vehicle when compared to a Hire Purchase loan over the same period.

At the end of your loan, if you wish to keep your vehicle you simply have to pay the final payment. We offer our customers the ability to refinance the balloon payment over a period which fits with your monthly budget from 12 to 60 months.

If you decide you want to change your vehicle rather than paying the balloon payment, you can part exchange it and use the value of the vehicle to repay the final payment and any remaining equity can be used as a deposit towards your next vehicle.

We don’t rely on computers to make a decision about your application. Instead, our team of experts combine their years of experience with modern technology to provide a personal, friendly and professional service.

How does it work?

  1. . Speak to us directly or tell your dealership that you want us to arrange your finance. We’ll make the necessary arrangements with them.
  2. . Once we’ve approved your application we’ll make sure the paperwork is waiting at the dealership for you. Alternatively you can you can visit our office or call in to any Cumberland Branch.
  3. . Once the paperwork has been completed, we’ll pay the balance direct to the dealership in time to collect your new vehicle!

WHAT IF YOU WANT TO CHANGE YOUR VEHICLE?

If you decide you want to change your vehicle part way through your loan then all you need to do is speak to us to get a settlement figure.

This is the amount required to settle the outstanding loan but as it’s secured on your vehicle, you may be able to sell or part exchange your vehicle to do this.

Once you know what your settlement figure is, we’ll talk you through the process of changing your vehicle, ensuring your new finance is right for your needs.

We also offer our customers the ability to make partial settlements, this allows you to repay some of your outstanding finance and reduce your monthly repayment.

If you want to know more about Lease Purchase or if you’ve seen a vehicle and would like a quote, contact your local team on 01228 595939 or scroll down to schedule a call or request a quotation.

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