Car Credit: Lease & Hire Purchase. Once contract terms end, the vehicle will be owned by you. Once all of the payments have been finalised, which will include ‘an option to purchase payment’, you will acquire the vehicle.
Part of the capital cost of the vehicle payment may be deferred into a 'balloon' or residual payment at the end of the agreement (Lease Purchase), which equates to the anticipated value of the vehicle at the end of the agreed loan period. A typical lease / hire purchase will consist of paying a low deposit, no mileage restrictions and the eventual ownership of the vehicle. Vat is not accrued but tax allowances do apply.
Although we will make every effort to ensure we can supply your new/used car loan we do not provide a 100% guarantee. This is because most car credit and banking institutions will need to perform a credit check to assess your current credit history. Each bank or financial institution provides the loan based upon their own criteria’s including rates of interest.
Please understand that while you are applying for guaranteed car loan, certain companies will supply guaranteed car loans based on certain terms and conditions including the mode of re-payment, monthly instalments and charges for early settlement of the auto loan.
Car Credit Assured is authorised and regulated by the financial services authority. Applicants must be over 18 years of age. Credit is subject to status and income. Written details are available on request. Credit only available on cars supplied by Bristol Street Group Ltd and its subsidiary companies. Typical finance example; cash price £5,499, deposit £499, amount of credit £5,000, total charge for credit £2,799, total amount payable £8,298, payable by 59 monthly payments of £125, followed by one monthly payment (inc application fee) of £424.