Finance

We are a credit broker and not a lender. We can introduce you to a limited number of lenders and their finance products which may have different interest rates and charges. We are not an independent financial advisor. We will provide details of products available from the lenders we work with, but no advice or recommendation will be made. You must decide whether the finance product is right for you. We do not charge you a fee for our services. Our APR is Typical 5.9%

INTRODUCTORY COMMISSION. PLEASE NOTE.

Whichever lender we introduce you to, we will typically receive commission from them (either a fixed fee or a fixed percentage of the amount you borrow). The lenders we work with could pay commission at different rates. However, the amount of commission we receive from a lender does not have an effect on the amount you pay to that lender under your credit agreement.” If you would like further information on the nature of the commission / remuneration that we may receive, you may request this in writing by email to sales@turbocentre.co.uk 

 HIRE PURCHASE EXPLAINED

Spread the cost with a choice of payments from 1 - 5 years. Choose the amount of deposit you wish to put down.

The interest rate is fixed so your repayments stay the same throughout the agreement - it makes budgeting simpler.

If you choose to pay for your car with a Hire Purchase agreement, you will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends and you own the car.

You’ll be able to drive away a car that you may not have managed to buy outright.

Unlike a PCP  you won't need to estimate your mileage at the start of your Hire Purchase agreement, so you'll avoid excess mileage charges.

Once you’ve made your final monthly payment, including the option to purchase fee, you'll have full ownership of the car.

Other things to consider

Monthly payments may be higher than some other finance options, such as PCP, as you're paying off the full value of the car.
You won’t be able to sell the car without settling the finance.

You won’t own the car until you have made all of your repayments.

You’ll need to keep the car properly insured, maintained and in your possession until the full value is paid off.

 

PERSONAL CONTRACT PURCHASE (PCP) EXPLAINED

For your vehicle purchase our PCP plans allow us to quote you the most cost effective monthly repayments.

Personal Contract Purchase (PCP) is similar to a Hire Purchase agreement as you will usually pay an initial deposit, followed by monthly instalments.

What makes PCP different is that your monthly instalments are paying off the depreciation of the car, and not its entire value, over the course of the term. Then, when you get to the end of your agreement, there is a final, balloon payment that must be made if you want to keep the car.

How does PCP actually work?

At the start of your PCP contract, a Guaranteed Future Value (GFV) of the car is set. This is the car's expected value when your contract ends.

For you, this means that the money you’re repaying is the difference between what the car is worth now and what it will be worth at the end of your contract (the depreciation) plus interest, which is calculated on the full value of the vehicle. You'll pay this difference off in monthly instalments.

Remember: you are still liable for the full amount of the vehicle if anything happens to the car or if you settle early.

This means lower monthly payments for you, but you will need to pay a final payment at the end (the Guaranteed Future Value) if you want to keep the car.

Once your agreement is finished, you’ll have three options:

1. Buy the car by paying the final balloon payment (the Guaranteed Future Value).
2.  Hand the car back - your finance company has already predicted the Guaranteed Future Value of the car, so handing the car back will settle the deal.
3. Part exchange for a new car.

Advantages

Monthly payments on a car financed by PCP are usually lower than if your car is financed by a Hire Purchase agreement.

If you decide not to buy the car, you can simply walk away when you've made all the payments.

You can drive away a new or used car every few years (dependent on the chosen term) without worrying about selling it on.

If your car is worth more than the Guaranteed Future Value then you can use that equity towards a deposit on a new car.

Things to bear in mind

If you want to buy the car you will need to pay your final balloon payment (the Guaranteed Future Value).

Similar to PCH, you will need to agree on a mileage allowance at the beginning of your contract and there may be excess mileage charges if you exceed this.

You won’t be able to sell the car without settling the finance.

You won’t own the car until you have made all of your repayments.

You’ll need to keep the car properly insured, maintained and in your possession until the full value is paid off.

We can help you drive the car of your dreams.  Our finance providers offer a  range of car finance options to suit your budget. We are always here to help you with organising your chosen finance product. We do not offer advice or recomendation on Consumer Credit products.

TURBOCENTRE VEHICLE FINANCE

For a personal written quote please contact us

Finance available subject to status. Indemnities may be required. Finance is available to UK residents aged 18 years and over. Terms and conditions apply.

We do not provide financial advice. We are a Credit Broker and Intermediary. TURBOCENTRE CAR SALES LTD is authorised and regulated by the Financial Conduct Authority . Our details appear on the Financial Services Register our registration number is 652927.

Other finance offers may be available but cannot be used in conjunction with any products offered.

 

Our Contact Details

  • Turbocentre Car Sales Ltd
    Our Postal Address is,
    PO Box 7764 , Rushden,
    Northants,
    NN10 1BR

Our Opening Times

  • 9.00am to 5.00pm By Appointment* **
    10.00am to 3.00pm By Appointment* **
    10.00am to 3.00pm Email and Phone calls only**
    * Visits by appointment only
    ** Telephone and email sales enquiries will be answered until 8pm