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When it comes to purchasing a vehicle either new or used, a Hire Purchase agreement is perhaps the most traditional and straightforward scheme you can choose. Such an arrangement first requires you to pay a cash deposit - or part-exchange - on the vehicle of your choice. You’ll then be able to select the duration of any agreement; next, you will be presented with the monthly repayments which will be fixed for the length of the contract.
What makes Hire Purchase such a popular option is the fact that, at the end of the agreed term, you will be the outright owner of your vehicle and free to do with it as you please. The repayments you make will be paying off the outstanding balance and, at the end of the term, you will become the full registered owner of the car.
You can learn more about the Hire Purchase agreements available at Cawdor Cars by liaising with a member of our team today. We’ll be happy to answer any questions you may have and help secure you the best value for money possible.
Cawdor Cars Newcastle Emlyn Limited is an Appointed Representative of Automotive Compliance Ltd, who is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Cawdor Cars Newcastle Emlyn Limited to act as a credit broker, not as a lender, for the introduction to a limited number of lenders and to act as an agent on behalf of the insurer for insurance distribution activities only. We can introduce you to a selected panel of lenders, which includes manufacturer lenders linked directly to the franchises that we represent. An introduction to a lender does not amount to independent financial advice and we act as their agent for this introduction. Our approach is to introduce you first to the manufacturer lender linked directly to the particular franchise you are purchasing your vehicle from, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to make the next best offer of finance for you. Our aim is to secure the best deal you are eligible for from our panel of lenders. Lenders may pay a fixed commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Different lenders may pay different commissions for such introductions, and manufacturer lenders linked directly to the franchises that we represent may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. Any commission amount we earn will be disclosed as part of our sales process and you will be informed of the amount after the proposal has been accepted and in good time before signing any agreement, you will be required to sign a commission disclosure document confirming you are aware of the commission being paid by the relevant lender. All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over. Guarantees may be required.
