As you might have guessed given the name of our organisation (Accept Car Finance), our main goal is to provide the very best possible car finance for our customers. Indeed, we aim to ensure that everyone has the opportunity to own the vehicle that they require based on outlining a fair and affordable car finance plan. But how exactly does car finance work? This is what we are going to explain in today’s article.
In a nutshell, car finance acts as the method by which you are planning to purchase a motor. After all, unless you’re filthy rich or you carry around your entire bank balance in your wallet, chances are that you’re not going to literally pay out several thousand pounds in cash, or even on your card, in one fell swoop. Car finance is the basis for you to have a long-term payment plan that allows you to pay a fixed amount month-by-month, perhaps with an initial deposit depending on which agreement you opt for.
Car finance plans will vary depending on multiple factors, with the most obvious being the vehicle that you are looking for. Not every car will be available for each of the four main finance plan options, perhaps due to its age or condition. But it will also depend on your financial circumstances, your previous history of purchasing cars (do you tend to change cars every few years?), as well as the best offers on the table at that time. We will outline all of this with you so that you don’t just pick the car that is right for you, but also the plan that suits your needs. Will it be best for you to pay more every month on a shorter agreement, or would you prefer paying less for a longer period of time?
As for the different finance plan options: as discussed in previous blogs on this website, they are Personal Contract Purchase (PCP), Personal Contract Hire (PCH), Hire Purchase (HP) and Personal Loan (PL). Each have their pros and cons, and each has a different outcome, whether it be you buying the car outright, or simply hiring it with the view of moving onto another vehicle, or owning the car but having a loan that you will still need to pay in the future. Whatever you go for, the main thing to remember is that we will talk you through all of the options, setting up the most suitable payment plan that is feasible based on your situation while also ensuring you get the best value for money, as well as making sure that you can be behind the wheel and on the road as soon as possible.
As part of our services we deliver the car to your premises of choice within the UK. Lately we have delivered cars in most major towns including the Southern cities & midlands: (London, Birmingham, Leicester), Northern cities (Manchester, Liverpool, Sheffield, Leeds, Newcastle), and Scottish cities (Edinburgh, Glasgow).