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Used Car Finance

Used car finance

Helping You Get the Car You Want

Here at TC Harrison Ford, we want you to be able to have peace of mind when it comes to paying for your next vehicle. Having the option to finance any of the vehicles in our plentiful stock of used cars gives you the opportunity to broaden your choice of vehicle.
Used cars, generally speaking, are more affordable than brand-new vehicles and financing them helps spread out the cost over time. This makes it easier than ever before for people to purchase the car they desire. Financing a used car could also have lower monthly payments than those attached to a new vehicle, making the affordability of used cars on finance a great option for some customers.
If you are deciding to finance your next vehicle, it is important to figure out which option works best for you. Here at TCH Ford, we can guide you through this this process via our trained Business Managers who can introduce you to used finance packages through Santander Consumer (UK) plc, who offer a range of funding methods for customers looking to purchase a used vehicle using finance. This includes Personal Contract Purchase (Conditional Sale) and Conditional Sale/Purchase Plan agreements.

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What is PCP Finance?

In a Personal Contract Purchase (PCP Conditional Sale) agreement, the customer makes a deposit and then pays monthly instalments over an agreed term (usually between 24 and 48 months). 

At the end of the term, the customer has the option to buy the vehicle by paying the outstanding balance, return the vehicle to the finance company, or use the vehicle's trade in value (less Optional Final Payment) as a deposit towards the purchase of another vehicle.

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What is Conditional Sale/Purchase Plan?

In a Conditional Sale/ Purchase Plan agreement, the customer makes an initial deposit and then pays monthly instalments over an agreed term (usually between 24 and 60 months). 

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Picking the Right Option

It is important to pick the right finance option to best suit your personal circumstances. Remember to consider the value of the vehicle that you are looking to purchase and work out what you can comfortably afford monthly. You also need to decide if owning the vehicle at the end of the agreement is important to you.
PCP finance usually involves a final "balloon" payment at the end of the agreement, which is the amount that the customer must pay to own the vehicle. The balloon payment is based on the estimated residual value of the vehicle and is determined and explained at the beginning of the agreement. With Conditional Sale/Purchase plan finance, there is no balloon payment and the amount borrowed is spread out in equal monthly payments over the term of the agreement. The customer becomes the owner of the vehicle once all payments have been made.

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