Finance

Hawthorns cars offers a wide range of finance options to suit your individual requirement when considering your next vehicle purchase.

This easy guide will help walk you through the three most popular options to assist in helping you to make the right choice. 

Hire Purchase (HP)

Ideal when looking to pay for your car over a fixed term with a flexible deposit (an amount that is usually based on 10% or higher of the car's purchase price ) then the balance repaid in monthly payments from 12 - 60 months dependant of vehicle age. 

Pros:

Once final payment if made at the end of the term of your agreement you'll have full ownership of the vehicle.

No mileage restrictions. 

Considerations:    

Payments may be higher than a PCP on certain vehicles.

Your car cannot be sold without fully settling the finance. 

Personal Contract Hire (PCH)

Suitable if you are not looking to buy the car at the end of the agreement; a PCH is a Lease Contract for an agreed period with fixed monthly payments. When the agreement ends you simply return your vehicle and start a new contract on a new car. 

Pros:

Hassle free way to change your car more frequently always keeping up to date with current models.

Allowing you the ability to consider cars that you may not have been able to purchase outright.

Monthly payments are lower than when purchasing the car outright.

Considerations:

There is no option to purchase the car at the end of the term of the lease.

An approximate annual mileage is agreed at the start of the lease, there may be charges for excess mileage at the end of the lease. 

Personal Contract Purchase

Would suit if when considering your next car purchase you prefer to have the option to own the vehicle at the end of the agreement. As with HP an initial deposit is required with the balance paid in monthly repayments from 12 - 36 months. 

Pros:

Lower monthly payments than Hire Purchase.

Easy way to change cars more frequently, keeping up to date with current models without having to sell your current vehicle.

You have the option once the final payment is made to simply return the vehicle and end the agreement.

Considerations:

If you wish to own your car at the end of the agreement you will need to settle the final balloon payment (GFV).

As with PCH you have a mileage agreement, over mileage may alter the future value.

For any information relating to finance please free to contact one of our sales team who will be happy to assist you.