Wherever you want to purchase your new vehicle and whatever finance product you have in mind, we’ll use our unrivalled knowledge to hand-pick a competitive finance agreement that’s perfect for you. It’s your time to be excited, so leave the details to us and we’ll tailor-make your monthly repayments.
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Find out more about the journey of Car Finance with Charles & Dean here.

Your finance options

Hire Purchase is one of the most popular ways of funding a vehicle purchase. Once you have chosen your vehicle the lender will pay your selected dealership. You then hire the car from the lender, making monthly payments until the end of the agreement. It is a fixed period loan which is secured against the vehicle and with fixed costs. At the end of the term, there is an ‘option to purchase fee’ which once paid the title of the vehicle will transfer to you meaning you become the legal owner.

Whilst the lender will retain the title of the vehicle until all payments have been made, you will be the registered keeper of the car and you will be responsible for the licensing and any use of the vehicle.

Hire Purchase term lengths are usually between 24 – 60 months.

Hire Purchase is a good option if you’re looking to own a car for a long term and want peace of mind that your debt is secured against the vehicle.

Reasons to choose Hire Purchase:

 You will gain full ownership of the car once all payments have been to the lender
There is a greater chance of credit approval
 A low deposit is required, typically 10% however 0% agreements can be arranged subject to status
 It’s easy to budget with flexible repayment terms and fixed interest rates. The cost is spread over an agreed period of time and paid by monthly instalments, that will not increase even if interest rates rise.
 There is more flexibility for you to make early repayments or over payments at any point during the agreement.

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With a Personal Contract Purchase agreement, once you have chosen your vehicle the lender will pay your selected dealership.

A PCP is a variation of a Hire Purchase (HP) agreement. The key difference with a PCP agreement is that your car has a Guaranteed Minimum Future Value (GMFV) calculated by the lender and is reflected as a deferred ‘balloon payment’ which is due as a lump sum at the end of the repayment period.

A number of factors are taken into consideration to calculate the Guaranteed Minimum Future Value including the specification, the age of the car and the expected mileage of the car at the end of the agreement.⠀

At the end of your PCP agreement you have three options:
1. To hand the vehicle back to the lender – subject to contract conditions being met
2. To settle the balloon payment, either by selling the vehicle privately or with cash
3. Refinancing the balloon payment if you wish to keep the car but don’t have the cash to pay the balloon

As the GMFV is deferred to the end of the agreement, monthly payments are lower when compared to a HP agreement over the same term. A Personal Contract Purchase is a good option for those who like to update their car more frequently. PCP agreements are typically 12–48 months

Reasons to choose Personal Contract Purchase:

The monthly repayments are typically lower than Hire Purchase
You can return the car at the end of the agreement – at the point when the GMFV is due.
 Deals can be structured with low deposits, typically 10% of the cost of the car. However, agreements can be arranged with a 0% deposit, subject to status
It’s easy to budget with flexible repayment terms and fixed interest rates
There is more flexibility for you to make early repayments or over payments at any point during the agreement

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A Lease Purchase is similar to a PCP agreement, however at the end of the term the deferred sum (referred to as a Guaranteed Minimum Future Value (GMFV) in a PCP agreement) must be paid. With PCP, it’s optional.

A number of factors are taken into consideration to calculate the Guaranteed Minimum Future Value including the specification, the age of the car and the expected mileage of the car at the end of the agreement.⠀

At the end of the agreement you have two options:
1. You can pay the deferred sum either by selling the vehicle privately or with cash
2. You can pay the deferred sum through a refinance agreement

A typical Lease Purchase agreement will last between two and five years. Lease Purchase is a good option if you like to drive the newest model, you want to keep your monthly repayments lower or if you don’t want to be subject to excess mileage clauses.

Reasons to choose Lease Purchase:

✓ A Lease Purchase is a good option if you’re looking to finance a more expensive or a premium car
 The monthly repayments are typically lower than Hire Purchase
 Deals can be structured with low deposits, typically 10% of the cost of the car. However, agreements can be arranged with a 0% deposit, subject to status
✓ It’s easy to budget with flexible repayment terms and fixed interest rates
✓ 
There is more flexibility for you to make early repayments or over payments at any point during the agreement
 You can fully settle any outstanding payments at any point during the financial term

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Personal Contract Hire is a popular form of vehicle leasing. Personal Contract Hire means you take control of a car for a fixed period of time and for a fixed fee. There is a non-refundable upfront payment, followed by regular monthly payments for the length of the contract. You never take ownership of the car and at the end of the contract you return the car to the contract hire company.

Your Personal Contract Hire payments will be determined using a combination of the retail price of the car, the estimated value of the car at the end of the agreement, taking into account depreciation and your expected mileage. You then pay the difference between the two figures in monthly instalments. There is no option to buy the car at the end of the agreement.

Personal Contract Hire is a good option if you would like to agree a maintenance package, such as servicing and tyres. You will also know exactly what you need to pay and when, there are no surprise costs.

Reasons to choose Personal Contract Hire:

✓ If you would like the option of driving a new vehicle every few years, Contract Hire is a good option for you
✓ 
Personal Contract Hire is also a good option for businesses as it allows you to update fleets regularly with the latest vehicles, avoid large down-payments and adjust fleet size based on the number of employees

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Tell us About You

If you haven’t found the car you’re looking for, we can help. Charles & Dean can find your perfect car. We provide a bespoke service in which we source and hand-deliver your new car.

Alternatively, we can help you plan your finance options now, while you’re still searching. That way, you’ll be ready to finance your new vehicle as soon as you’ve found the right one.

We have the knowledge and expertise to help you find the perfect car. Plus, we make financing your new vehicle simple and straightforward.

Great.

Let us find a suitable finance option. That way, you know you’re getting a finance package designed for you.

Remember, you don’t have to accept the finance option provided by the dealership.

If you’ve accepted the finance option provided by the dealership, it’s never too late to give us a call for your peace of mind.

We can guide you on what to do next to ensure your financial agreement is the right one for you.

No matter what stage of the journey you’re at, we can help.

If you have a balloon payment or you’re looking to refinance your current vehicle we have tailored options available to you.

Find out more here.

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Classic, Sport & Prestige Car Finance

Financing your dream car is a smart alternative to a cash purchase. At Charles & Dean we can support you with classic, sports or prestige car finance.

We can finance a variety of makes and models including Ferrari, Lamborghini, Maserati, Aston Martin, Bentley, Rolls-Royce, McLaren, Tesla, Maybach, Porsche, Mercedes, Audi, Jaguar, Chevrolet, Morgans, BMW, Austin Healey, Triumph and more.

“I love speaking with customers on the day they collect their childhood ‘poster car’ making someone’s dream come true is a terrific feeling” – Victoria Magnall, Office Manager