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Finance Options for New Car Purchases

Buying a car is a big decision and is certainly one of the largest purchases the majority of us will make. In these cost conscious times it's becoming increasingly important not only to find the right car to suit your own personal needs, but also the best way of paying for it.

With the majority of cars on the road now being purchased through some form of finance, the various options on offer are worthy of serious consideration by every car buyer. Here you will find the full details of the finance options available, their advantages, disadvantages and suitability for your intended vehicle purchase.

Please take a look through our fuss free understanding of the options available before contacting one of our friendly team on 0845 612 3341 or by emailing enquiries@buyanewcaronline.co.uk

Hire Purchase

Hire Purchase is a simple and popular way of purchasing a vehicle, with worthwhile tax advantages for businesses. If ownership is a priority, this is an extremely cost effective method of borrowing.

Cashflow Benefits

Paying an initial deposit, calculated as a percentage of the total cost this is followed by fixed monthly repayments; which allows you to budget monthly expenditure precisely in advance.

Tax Implications

Business users may claim tax relief on the interest charged. The vehicle is also classified as an asset, which allows it to be written down against taxable profits by 25% or £3000 (maximum per annum).

Who owns the vehicle at the end of the agreement?

At the end of the agreement, which may be from 1 to 5 years, you become the outright owner of the vehicle.