Cooper Mini Car Credit

Car Credit: Personal Contract Purchase (PCP) is used by businesses as a viable alternative to regular funding methods, a PCP allows the driver to own the vehicle while benefiting from tax efficiencies. The vehicle is financed through a credit sale agreement between the driver and the car credit company. The drivers’ employer pays the driver a monthly allowance, which relates to the employee level and their choice of car. Taking this allowance together with the personal tax savings, as well as utilising Inland Revenue approved business mileage allowances, provides the driver with a net monthly budget. The driver can trade up or down from their current company car level. The employer can benefit from a reduction in the gross cost of providing drivers with a vehicle. However this is strongly influenced by the make up of the fleet and in particular the number of business miles conducted by a driver. As the foundation for Employee Car Ownership (ECO) schemes is a direct contract between the leasing company and the driver, there are no corporate accounting regulations to follow.

As part of the Bristol Street Motors Group, Car Credit Assured can offer a full range of insurance products to cover any circumstance.

Payment Protection
Payment protection will cover your monthly car credit payments in the unfortunate event of sickness, unemployment, accident or death, ensuring your credit is unimpaired whilst unable to work.

Gap Insurance
Gap Insurance covers the difference between the total amount outstanding on your car finance and the amount paid out by your insurance company in the event of a total loss claim

Warranty
As well as supplying many vehicles still covered under manufacturer’s warranty, Bristol Street Motors can provide a full range of extended warranties to suit your needs.

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.