Car Finance
C&C Sport&Classics&Cars believes you shouldn’t have to wait for your new car. We understand that when it comes to purchasing a new used car some of us need a little help, which is why we offer the best used car finance deals we can find for our customers. We are more than happy to spend the necessary time in helping you source the correct package to suit your budget.
Why Choose Used Car Finance?
Opting to buy your car using a car loan is a great alternative if you don't want to pay for your new car upfront with one lump sum.
Low Deposit Deals
Most finance offers require a payment upfront, known as your deposit, which can often put people off from opting to go down this route. But we are able to offer a low deposit car finance option on all of our solutions.
Getting Car Finance With Bad Credit
Having a bad credit history can make getting finance more difficult, but our team work hard to ensure you get the best deal available to help purchase your new car.
Why C&C Sport&Classics&Cars LTD?
Our finance packages are extremely competitive with those in the marketplace and are tailormade to suit your requirements.
We are able to offer a number of extremely flexible funding solutions that fall under the following three main headings:
- Personal contract purchase (PCP)
- Hire purchase
Keep reading to find out more about each of our solutions, or get in touch with us now to find out more.
Hire Purchase
Hire Purchase is one of the most common ways to fund the purchase a new or used car. It is the legal term for a contract, in which persons usually agree to pay for goods in parts or a percentage at a time.
A Hire Purchase agreement allows the buyer to hire the goods for a monthly rent. When a sum equal to the original full price plus fixed interest has been paid in equal installments, typically between 12 and 60 months the buyer may then exercise an option to buy the goods at a predetermined price (usually a nominal sum like £5.00). Hire Purchase agreements are secured against the goods, you will be required to settle the outstanding debt when selling the vehicle.
Hire Purchase means you can enjoy the following rights and benefits:
- Very low deposits – most Hire Purchase providers offer agreements that require a very low deposit, allowing the hirer to be able to collect and use the vehicle without having to pay much until the first scheduled installment is due (normally 30 days).
- Right of Withdrawal – a hirer has the right to withdraw from the Hire Purchase agreement within 15 days of executing the agreement. (The Hirer will have to make alternative arrangements to repay the balance in full).
- Early Repayment – a hirer can repay early part or all of the balance payable which will be reduced with an interest rebate.
- Early Termination – once a Hirer has paid half of the total amount payable, should he wish to he has the benefit of being able to hand back the goods and walk away from the loan without any further payments due, and without affecting his credit rating whatsoever. (providing he taken reasonable care of the goods).
Benefit Summary
- Very low deposit, in some cases no deposit
- Fixed Interest Rate for term of loan
- No tie to mileage contract
- No lock in so early settlement can be made at any stage of the agreement
- Voluntary Termination Protection rights
- Withdrawal Rights
Personal Contract Purchase (PCP)
Personal Contract Purchase, sometimes referred to as PCP, is becoming a very popular choice for customers who change their vehicles regularly or wish to have lower payments during the course of the loan.
A PCP is a form of car finance similar, in principle, to a Hire Purchase (HP), but instead of paying off the entire value of the car in monthly instalments, you are effectively only paying off the depreciation.
A PCP plan will enable the customer to purchase a new vehicle with far lower monthly repayments by deferring a large amount of the total cost of the vehicle to the end of the contract - this amount is known as the Guaranteed Future Value (GFV), often referred to as the optional final balloon payment.
The GFV is set by the finance company and is based on the chosen vehicle and the annual mileage stipulated by the customer. The annual mileage can typically be set between 6k and 30k per annum and will affect the figure given for the GFV.
With a standard fixed term loan you are paying out regular monthly payments to get some of it back at the end of the term ie. what the vehicle is worth when you have finished the loan, which can easily be affected by market forces.
At the end of the contract you can choose one of four options:
- Part exchange your vehicle for another car, with the benefit of the guaranteed future value you are protected from any loss or negative equity, If the trade in value is greater than the GFV the difference can be paid back cash to you or used as deposit against the new vehicle
- Keep the vehicle by paying off or refinancing the outstanding balance
- Return the vehicle to the finance company
- Sell the vehicle privately and keep any profit over and above the GFV
Benefit Summary:
- Very low deposit
- Fixed Interest Rate for term of loan
- Lower monthly payments
- Protection against negative equity at end of agreement
Once your details have been entered we can almost always get confirmation through by way of an offer within 30 minutes, meaning that you can wait and, in many, cases drive the car away on the same day.
When you arrange your finance with us a Direct Debit will be set up so that your monthly payments are paid on time automatically, please note that car finance is only available to people over the age of 18.
C&C Sport&Classics&Cars Ltd are a credit broker not a lender. We are Authorised and Regulated by the Financial Conduct Authority. FCA No: 929745.Other offers may be available but cannot be used in conjunction with this offer.We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. Registered in England & Wales : 11937725 Registered Office : Address: Unit 1,The Fox Complex,Severn Road,Welshpool Sy21 7AZ
*C&C Sport&Classics&Cars LTD is a credit broker, not a lender. Our rates start from 8.9% APR. The rate you are offered will depend on your individual circumstances.
Representative Example: Borrowing £5,000 over 48 months with a representative APR of 25.9%, an annual interest rate of 25.9% (fixed) and a deposit of £0.00, the amount payable would be £168.31 a month, with a total cost of credit of £3,078.88 and a total amount payable of £8,078.88
