Car and Van Finance
Finding the car (or van) of your dreams can be a time consuming process, often taking days of trawling the internet to find suitable vehicles for you. Of course AutoeBid can offer you great prices if you are looking for a new car of van.
Getting the right finance can have similar or even greater financial impacts, but is often completed in a few minutes based on the dealership's quote and with limited comparison of options.
MotorPocket is the sister company of AutoeBid, offering access to a range of finance products, including PCP, Lease Purchase, Hire Purchase, Personal Loan, Contract Hire. Apply online or find out more from MotorPocket.com
MotorPocket's GAP insurance is featured in the Which? GAP insurance pages. They also offer a car insurance comparison, allowing you to compare quotes from over 100 insurance providers.
Sourcing your finance independently of the car dealership allows you to understand and negotiate the car price, separately from your finance costs.
MotorPocket is a finance broker working with a number of lenders and offers the opportunity to access finance for a range of credit backgrounds and across different product types.
Another significant advantage of using an specialist broker is the ability to match your application details to suitable lenders, thereby reducing applications declined. Multiple credit searches can have a negative impact on your overall credit rating and therefore should be minimised.To make an application for finance or find out more visit motorpocket.com
PCP / Lease Purchase: Part of the loan is deferred to the end of the finance agreement. This means the monthly payments through the term of the loan are lower. With PCP you have the option of returning the car at the end of the agreement, part exchanging for another vehicle, or paying the balance and buying the car outright. With Lease Purchase you can either part ex the vehicle or pay the balance at the end. PCP requires a maximum annual mileage to be set, if you exceed this you will need to pay should you return the car to the lender.
This type of finance may be suitable if you plan to change your car at the end of the finance agreement and want lower monthly payments. Lease Purchase usually has no mileage restriction, but if you greatly exceed the expected mileage you may owe more than the value of the car at the end of the agreement.
Hire purchase: The loan is repaid in full over the term in fixed monthly payments. At the end of the finance term, you own the car outright. There are no mileage restrictions.
This may be suitable if you plan to keep the car long term or wish to own the car outright at the end of the finance agreement.
Contract Hire: The finance company owns the vehicle, you agree to monthly payments for usage over the agreed term. After which you return the car to the finance provider. You need to agree a maximum annual mileage and will be charged if you exceed this.
This type of finance may be suitable if you do not wish to own the vehicle or have equity in the vehicle.