SERVICE BUYING ONLINE ABOUT TRUST GROUP UK CONTACT US MOTABILITY FINANCE ALL OUR OFFERS BLOG TRUST GROUP CAN HELP MAKE FINANCING YOUR CAR SIMPLE... As one of the leading Volkswagen and Skoda Dealers in the Midlands, Trust Group UK aims to make the process of financing simple for our customers. There are three main finance options for purchasing your new or used car from us: Purchase Plan (Hire Purchase) Hire -Purchase (Purchase Plan) agreements involve paying a deposit (typically around 10%) which is then followed by affordable fixed monthly payments. Ownership of the vehicle transfers from the finance company to the customer once all payments and the option to purchase fee have been made.( There is no Option to purchase fee on a purchase plan agreement) Until this has been completed, the person making the payments has no legal right to sell the vehicle. As part of the hire purchase agreement ( Purchase Plan) customers can settle their finance agreements early within the timescale of the loan. This is often referred to as an `early settlement’. The finance company will be able to confirm any outstanding balance required to settle any vehicle on Hire Purchase or a Purchase Plan. CONTACT US TO FIND OUT MORE Personal Contract Purchase (PCP): Personal Contract Purchase or PCP is currently one of the most popular options when purchasing a new or used car. It offers the same flexibility that you find in a Hire Purchase agreement but also includes a confirmed Final Residual Value to pay at the end of the agreement. As with HP, there's a deposit to pay, a fixed interest rate, and monthly repayments over a choice of lending terms, which are usually between 12 and 48 months. At the end of the agreement you can opt for one of three choices: Return the car to the supplying retailer Keep the car, having paid off the Final Residual Value Payment Trade the car in against a replacement, settling off the outstanding Final Payment and using any equity that you may have as further deposit against the new vehicle. CONTACT US TO FIND OUT MORE Contract Hire Contract Hire is also referred to personal leasing and is rated as the fourth most popular car-financing option according to numerous online polls including site such as whatcar.com. Personal Contract Hire enables you to pay fixed monthly rentals on a vehicle over a period of months (typically 24 or 36 months) after which you will be required to simply hand the vehicle back. In effect, you are ‘hiring’ the vehicle for an extended period without any opportunity to own the vehicle or settle off the loan early. Maintaining the vehicle during the hire period is the customers' responsibility, to help offset this, many customers choose to opt for one of our standard maintenance packages which will cover off all routine servicing costs. This method of funding is particularly popular for business users who are responsible for funding their own vehicle but do not want to take on a more standard HP or PCP agreement. CONTACT US TO FIND OUT MORE Whichever way you want to finance your car, you can be sure we are a company you can Trust. GET IN TOUCH WITH OUR EXPERTS Home Privacy Policy MSA (2015) Statement Motability Contact Trust Group UK Careers at Trust Group UK Used Up! Used Polo Used Passat © Trust Group UK 2020. All rights reserved. Millennium House, Audnam, Stourbridge, West Midlands, DY8 4AH Company Number 5550119, VAT Reg. No871 8692 77 © Trust Group UK 2020. All rights reserved. Millennium House, Audnam, Stourbridge, West Midlands, DY8 4AH Company Number 5550119, VAT Reg. No871 8692 77 Trust Group UK Limited is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486). Permitted activities include advising on and arranging general insurance contracts and acting as a credit broker not a lender. Chat with Sales Chat with Sales Online Any sales questions? Chat with sales now. Send