APPLY FOR FINANCE
Applying for an automotive finance package can be daunting, but the process doesn’t have to be complex.
HP With Balloon
Typically requires a lower initial deposit compared to other financing options.
Predictable and fixed monthly payments make budgeting easier. Often Competitive Balloon payments to reduce monthly costs
At the end of the agreement, the customer has the option to buy the vehicle.
Offers flexibility in terms of contract duration and mileage limits.
Considerations:
The lessee is usually responsible for maintenance and upkeep costs.
Exceeding mileage limits may incur additional charges.
The decision to purchase the vehicle is usually made at the end of the agreement, which may not suit everyone.
at the end of term are NOT a guaranteed future value- your vehicle may be worth less than the baloon
PCP
Monthly payments are often lower compared to other finance options.
At the end of the term, customers can choose to buy the car, return it, or upgrade to a new model.
The vehicle’s future value is guaranteed, reducing the risk of depreciation affecting the customer.
Multiple end-of-term options provide flexibility based on the customer’s needs.
Considerations:
PCP agreements often have mileage restrictions, with penalties for exceeding them.
Excessive wear and tear may result in additional charges.
To own the vehicle, a final balloon payment is required, which can be higher than other options.
HP
The customer owns the vehicle outright at the end of the agreement.
Interest rates are typically fixed, providing predictability in monthly payments.
Unlike some other agreements, there are no mileage restrictions.
Can be a suitable option for individuals looking to build credit history.
Considerations:
Monthly payments can be higher compared to other finance options.
Ownership is not immediate, as it only occurs after the final payment.
The vehicle’s depreciation can affect its resale value, influencing the overall cost.
Vehicle or Final Balloon Benefits
Refinancing the final balloon or the entire vehicle can result in lower monthly payments, easing the financial burden on the borrower.
Refinancing provides an opportunity to secure a lower interest rate, leading to overall cost savings over the life of the loan.
Borrowers can negotiate for more favorable terms, such as a longer repayment period or a fixed interest rate, enhancing financial flexibility.
Refinancing allows for the restructuring of the loan, enabling borrowers to align their financial obligations with their current situation, potentially improving overall financial management.
Considerations:
Monthly payments can be higher compared to other finance options.
Ownership is not immediate, as it only occurs after the final payment.
The vehicle’s depreciation can affect its resale value, influencing the overall cost.
Before we look at your options, we want to get to know you and your needs. Ask us any questions you have - our expert financial consultants are here to help.
Once you feel ready to take the next step, we’ll ask you to fill out the simple form on our website so we can make sure the packages we offer you are right for you.
We’ll do all the work here, giving you a chance to put the kettle on, sit down and picture yourself in your new car-to-be.
Once we’ve reviewed all your options, we’ll be in touch with you via email to set up a meeting where we’ll go through every option in detail.
Providing the best financing options in the market.
A Proud
NACFB Member
Copyright © Ascari Finance 2023. All rights reserved.
Ascari Finance is a trading name of Ascari Finance Ltd. We are an independent credit broker and not a lender. We are authorised and regulated by the Financial Conduct Authority with firm reference number 986624. We can introduce you to lenders that we believe have the requisite appetite for your borrowing need. Our role as a credit broker is to determine which lender on our panel to introduce you to. Each lender provider may have different interest rates and charges. We may receive commission from the lender for introducing you to them. The commission received is either a fixed fee or a percentage of the amount you borrow. The lenders we work with could pay commission at different rates, however the amount of commission that we receive from a lender does not influence the amount that you pay to that lender under your loan agreement. We will disclose the amount of commission we will receive in full upon request. If you would like us to disclose any potential commission, please make your request to our head office address on our contact page or by email to support@ascarifinance.com or by telephone on 08000 584180.
Registered addresss: Suite 2 Stanley House, Kelvin Way, Crawley, England, RH10 9SE
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