We can introduce you to a limited number of finance providers. We do not charge fees for our Consumer Credit services. We may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with them, typically either a fixed fee or a fixed percentage of the amount you borrow. The payment we receive may vary between finance providers and product types. The payment received does not impact the finance rate offered.
PCP – Personal Contract Purchase
You choose the car, the deposit, how long you want the contract to run for and the mileage you intend to do and in return you get fixed price motoring for the full term of the contract. At the end of the contract you have a choice to either buy the car outright for an agreed lump sum (the GFV of final balloon payment), or hand the vehicle back to the lender and walk away with absolutely no further obligation.
Hire purchase involves paying off the value of your car or fleet in monthly instalments. The money you pay, including any initial deposit you make, contributes towards paying off the entire cost of your vehicle And at the end of your HP agreement, you’re the registered owner of the vehicle(s).
Personal Contract Hire (PCH)
Personal Contract Hire (PCH) is a type of long-term rental that will suit you if you’re not looking to buy the car at the end of your contract and won’t need to change the car before the end of the contract. You lease the car for an agreed period of time by making fixed monthly payments. When the contract expires, you simply return your car.
A lease purchase agreement is similar to BCP. The difference being instead of having several options at the end of your agreement, you’re obliged to pay a final balloon payment, unless you part exchange the vehicle or fleet. Your options at the end of your term
– Keep the vehicle: Make the balloon payment and the car belongs to you
– Part exchange: Trade in your car
Business Contract Hire
Business contract hire is where a business pays set monthly payments over an agreed period in return for an individual car or fleet. With a BCH, your monthly payments cover the depreciation costs of your vehicle. The monthly payments are calculated by the contract hire company who use the value of the vehicle now and how much the car will be worth at the end of the agreement, or its guaranteed minimum future value (GMFV).When your contract ends, the individual car or fleet is simply returned. There will be no further charges, as long as the vehicle is returned within the agreed mileage and wear and tear guidelines.
Deluxe Auto Group LTD are regulated & authorised by the Financial Conduct Authority. We are a credit broker and not a lender. We will introduce you to a number of finance providers that best suit your financial needs. T&C’s will apply and vary depending on finance provider.