Telephone: 01228 545486

Vehicle Finance at Telford's

Hire Purchase

You pay a deposit and pay off the value of the car in monthly instalments, with the loan being secured against the car. This means you don't own the vehicle until the last payment is made.

Risks of HP:

  • Any outstanding finance must be settled if the goods are sold.
  • Your vehicle is at risk of reposession if you do not maintain the contractual payments.
  • You do not own the vehicle outright until the final payment is made. 
  • You must not sib-lease or rent the vehicle to a third party.

Personal Contract Purchase (PCP)

This is the most popular way to finance a car and is essentially a long-term loan agreement. Monthly repayments tend to be lower and at the end of the term, you have a few options:

  • Return the car
  • Pay the ‘balloon’ payment and go on to own the vehicle
  • Put the resale value of the car towards getting another car
  • This is ideal if you like to change your car every few years.

Risks of PCP:

  • You do not own the vehicle outright until the final payment is made.
  • Excess mileage charges apply.
  • Your vehicle is at risk of repossession if you do not maintain the contractual payments. 
  • Any outstanding finance must be settled before the goods are sold.
  • The vehicle resae calue may not be worth more than the final payment, meaning that your deposit may be reduced for your next vehicle. Therefore, you should be prepared for higher repayments. 

Personal Contract Hire (PCH)

A hassle-free approach to vehicle finance. This type of finance is a long-term lease of up to 4 years where you simply return the car at the end. It means there is no obligation at the end of the contract – you walk away and start again.

Simply Drive

Simply Drive finance does exactly what it says – no worry, you simply drive away your new vehicle. On this finance option you can take care of all your servicing, car tax, warranty, breakdown cover and even insurance*, all for one monthly payment over 3 years.

 

Why Finance Through a Dealership?

What is Hire Purchase?

What is Personal Contract Purchase?

 

M J TELFORD LTD t/a TELFORD AUTOMOBILES, GREARSHILL ROAD, KINGSTOWN, CARLISLE CA3 0ET | COMPANY NO. 1183241 | VAT NO. GB 257 273 054

 

M.J. Telford Garage (Carlisle) Ltd t/a Telford Automobiles is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486). Permitted activities include advising on and arranging general insurance contracts and acting as a credit broker not a lender.

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.

All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over, Guarantees may be required.

 

Registered in England & Wales: 1183241
Registered Office: Address: M J TELFORD LTD t/a TELFORD AUTOMOBILES, GREARSHILL ROAD, KINGSTOWN, CARLISLE CA3 0ET
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