Finance for New and Used Vehicles
Financing a new or used vehicle doesn’t have to be complicated. Busseys Sales teams in Norfolk can guide you through each step of the process.. We work with a select group of lenders to ensure you get a finance package that is tailored to your needs and requirements. Read our simple guides to the different finance options for used and new cars below or request a free credit check:
What are the benefits of financing through Busseys?
Financing through Busseys can be convenient, quick, and easy. You can shop for a new or used vehicle with financing options directly from our website where we have detailed information about the finance we offer as well as finance calculators to find the perfect agreement for your budget. You can leave the hassle and paperwork to us and your finance agreements can even be approved on the same day you inquire.
You can also take advantage of multiple finance products like:
- Hire purchase which gives you a fixed interest rate or lease purchase
- Personal contract plan which may allow you to lower your monthly payments or shorten the length of your finance agreement
Financing your car is important, Busseys can help you get it right. Let’s take a more in-depth look at the different types of finance options.
What is PCP?
PCP stands for personal contract purchase. A personal contract purchase is a finance product designed to reduce your monthly payments by delaying part of the repayment to the end of the agreement.
What are the benefits?
- You can adjust the deposit of the monthly payment, annual mileage, and final payment to suit your needs
- The agreement can be settled at any time
- The final payment can be referred to as a guaranteed minimum future value, a residual value, or sometimes a balloon
- The final payment is guaranteed by the finance company, meaning that if the real-world value of your vehicle declines faster than anticipated, you can simply return it to the finance company
- You have the option of paying off the future value to keep the vehicle or return the vehicle as a part exchange
- The repayments are typically lower than personal loans or hire purchase agreements, meaning you can reduce the term of the agreement or even consider a higher spec of vehicle for a similar monthly payment
What is HP?
HP stands for hire purchase. Hire purchase is a finance product that allows you to budget accurately by giving you a fixed interest rate and fixed monthly payments.
What are the benefits?
- Fixed interest rate and fixed monthly payments
- The deposit and the length of the contract can be easily adjusted, letting you find the monthly payment that fits your budget
- The vehicle acts as the security for the finance arrangements meaning other forms of credit will remain available to you for future use
- It can be settled at any time
- At the end of the agreement, you will take full ownership of the vehicle
