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07903 740 070

Used 4x4 Finance

At Greenacres 4x4 we aim to make our clients whole buying experience as simple and enjoyable as possible. We offer an extensive range of choices for both businesses and private individials when it comes to funding your next purchase. To enable a fast and simple delivery most of our clients tend to use one of two purchase options: Hire Purchase and Lease Purchase (Hire Purchase With Balloon).

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Hire Purchase

One of the most common forms of financing a vehicle is through a process known as 'Hire Purchase' which offers a straightforward way to spread the cost of your new vehicle. There is a fixed rate of interest with fixed monthly payments, which allows you to take ownership of your car once all payments are made, making budgeting simple and easy.

Hire Purchase combines elements of both a loan and lease, once you have reached an agreement with us to pay an initial deposit, typically between 5-50% of the vehicle price. The remainder of the balance, together with the interest, is repaid monthly over an agreed period usually between 1-5 Years. At the end of the period the car is yours.

Unlike a lease or personal contract purchase agreement, the residual value of the vehicle is not taken into account. Instead your monthly payments on a hire purchase agreement are determined by the retail price of the vehicle, the size of the deposit and the length of the contract.

Advantages of Hire Purchase:

  • Low Deposit – Doesn't tie up personal or business assets
  • Control – You decide the deposit, you decide the term
  • Fixed Monthly Payment – Makes budgeting simple
  • Flexibility – Settle your loan early
  • Assets – You gain ownership of car
  • Tax Benefits – Tax allowances for business users
  • VAT Free – No VAT on payments

Lease Purchase
(Hire Purchase With Balloon)

Lease Purchase offers lower monthly payments than standard Hire Purchase. At the end of the agreement you have the option to make a final lump sum payment (balloon) to purchase the car in full.

There is a fixed rate of interest but with lower fixed monthly payments because you defer repayment of some of the borrowing. At the end of the agreement you have a number of options including car purchase, re-finance, part-exchange or resale.

Once you have reached an agreement with us to pay an initial deposit, typically between 5–50% of the vehicle price. The deferred balloon element is calculated on the estimated value of the vehicle, which is repaid over an agreed period usually between 1–4 Years, plus a final balloon payment.

Advantages of Lease Purchase:

  • Low Deposit – Doesn't tie up personal or business assets
  • Low Monthly Payments – Allowing you to upgrade your vehicle
  • Upgrade Car – Lower payments can help you choose a higher specification vehicle
  • Control – You decide the deposit
  • Fixed Monthly Payment – Makes budgeting simple
  • Flexibility – Settle your loan early
  • Choice – Buy the car, part-exchange it
  • Assets – You gain ownership of car
  • Tax Benefits – Tax allowances for business users
  • VAT Free – No VAT on payments
Tel: 01623 844544