When confronted with the various vehicle finance options available, consumers can find this a very complicated subject to understand. The following information has been provided for your assistance. Our Sales Managers are available to talk to you about all of the following types of finance at your local Northern Motors branch, so please contact us now for more information.
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Lease Purchase
The customer acquires the vehicle when all the payments, including an option to purchase payment, have been made. Part of the capital cost of the vehicle payment may be deferred into a 'balloon' or residual payment at the end of the agreement, which equates to the anticipated value of the vehicle at the end of the agreed loan period.
Highlights:
Personal Contracts / PCP
For private individuals who want a hassle-free and cost effective way to finance and maintain a vehicle. The individual can choose a full maintenance or non-maintenance option. A residual payment is incorporated into the contract and is payable at the end of the primary contract period, should the individual wish to acquire ownership of the vehicle. Alternatively, the vehicle can be returned to the finance company at this point.