HISTORIC CREDIT ISSUES? NOT SURE IF YOU QUALIFY FOR CAR FINANCE?
Our pre-arranged car finance facility has been specifically designed to help customers who may have had a poor credit history, find a car that fits within their monthly budget. We are able to find the terms which best suit a customers particular credit profile.
- Quick and very convenient service
- Free of charge and no obligation quotes
Here is how our pre-arranged finance facility works:
• Complete the brief online application to receive and instant decision at any time of day or night
• One of our customer services team will be happy to answer any queries you may have
• Obtain a credit limit that suits your ideal monthly budget
• Visit the dealership to test drive a selection of cars that you already know are affordable
Anyone can apply provided you:
• Are aged 22yr or over
• Hold a full UK provisional or full licence
• Are currently employed or self employed earning in excess of £850 pmth (after tax)
• Have been resident in the UK for over 3yrs
Credit rating explained:
• A lender will tend to judge your finance application based on 2 key areas:
i) how you have paid credit in the past (ie your ‘credit history’)
ii) your overall current ‘profile’ (ie how long you have been at your address and how long you have been in your current in job etc etc).
• The lender will then combine these two elements to create an overall ‘credit score’ or ‘credit rating’ for you as a potential customer.
FINANCE OPTIONS AT BCC CARS
Here at BCC Cars, we understanding opting to finance your new, used or business vehicle can be a difficult decision. This is why we have created a handy section dedicated to explaining the different finance options available to you, including Hire Purchase, Business Contract Hire (BCH), Personal Contract Hire (PCH) and Personal Contract Purchase (PCP).
Need more information? With dealerships across Bolton, Bury and Blackburn, simply contact the BCC dealership closest to you to find out more.
Business Finance Options
Business Contract Hire
Business Contract Hire is made for businesses, allowing them to finance their vehicles with a low down payment and agreed mileage for the duration of the contract. Mileage that exceeds the agreed amount is charged at an excess mileage rate, which will be billed at the end of the contract. This finance option is subject to VAT, of which 50% can be reclaimed.
Private Finance Options
Personal Contract Hire
With Personal Contract Hire, there isn’t an option to purchase the car at the end, so is suitable for someone who wants to rent a car rather than buy one. With a contract typically spanning over two or three years, there is an agreed mileage limit applied to the contract with fixed monthly payments and servicing included. When the term ends, simply hand the car back to the dealership or take out a new lease.
Personal Contract Purchase
With Personal Contract Purchase (PCP) you pay a deposit on the vehicle and make monthly repayments until the end of the term. When the term ends, you have 3 options;
- Pay the Optional Final Payment (sometimes known as a ‘balloon payment’) in order to purchase the vehicle outright
- Use the equity you have in deal (if the vehicle has maintained more of its value than expected) to put down as a deposit on a new vehicle, via a new PCP deal;
- Return the vehicle and walk away without making any further repayments.
Further charges may be applicable based on the condition of the vehicle and mileage restrictions.
The simplest car finance plan, Hire Purchase allows you to hire a car after paying a relatively low deposit with an option to buy at the end of your contract. With Hire Purchase, we offer flexible repayment terms to fit your monthly budget (between one and five years), and even fixed interest rates so you know exactly what you’re paying every month.