Best used cars at affordable prices
Fairlands Garage, Aldershot Road, Guildford, Surrey, GU3 3HF
Tel : 01483 232515
Email : kkautos@ymail.com
Open 7 days a week, Sundays by appointment only.
Motor finance explained...
HIRE PURCHASE (HP)
This gives our customers the eventual ownership of the vehicle. Hire Purchase is similar to borrowing a sum of money from a bank and paying it back over a fixed period of time, with interest. Hire Purchase is a type of secured loan which involves the lender securing the loan against an asset. Hire Purchase gives the individual additional rights over those of a personal loan and is only available through dealers that have passed the stringent approval process of the finance companies.
WHY CHOOSE US?
We hold a CCL (credit consumer licence) which is the official governing licence to sell finance in the UK.
We are approved to sell finance by 25 major lenders including Barclays and Santander offering you the very best possible rates available.
Our friendly staff are trained to explain every detail of your finance plan. Nothing is covered up or overlooked.
CCD Compliance
A new regulation will come into effect in Feb 2011 to further protect the consumer when taking finance.
Our team is already fully trained and ready to explain everything to you with complete transparency.
It is very important to us that all our customers go away with a deal they can afford and we take every care to ensure everything is explained carefully to you.
PERSONAL CONTRACT PURCHASE (PCP)
Personal Contract Purchase will enable our customers to purchase their next car with lower monthly repayments. This is achieved by deferring an amount of the total cost of the vehicle to the end of the contract. The customer’s monthly payment is calculated on the difference between the vehicle cost and the amount guaranteed by the finance company at the end of the contract, as well as any deposit paid by the customer. Effectively the customer is paying the depreciation on the vehicle during the finance agreement. At the end of the contract there are four options available for the customer to exercise:
1. Return the vehicle to the finance company. As long as they have not exceeded the agreed mileage, they will have nothing more to pay.
2. Pay off or refinance the outstanding balloon payment if they want to keep the vehicle.
3. Part Exchange the vehicle for a new one. If the trade-in value is greater than the GMFV, the difference can be used towards a deposit on the next agreement.
4. Sell the vehicle privately and keep any profit over and above the GMFV.
K & K Automotive Limited | Quality Used Car Sales Guildford | Registration no. 06920218. | VAT No. 974 325 794 | Fairlands Garage, Aldershot Rd, Guildford, Surrey GU3 3HF
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