Micra Nissan Car Credit

Car Credit: Contract Purchase is an option favoured by those who wish to purchase a vehicle but without having to worry about the vehicle’s depreciations. An agreement is setup whereby a fixed monthly repayment is set for a certain period of time. This cost is based upon the anticipated mileage of the vehicle. Vehicle maintenance can sometimes be included as an additional option. Once the contract period is finished, there are two options available to the customers. The first option being that a final payment is made to finalise the purchase of the vehicle. The second option being that the vehicle is returned to the car credit company. In terms of businesses, the vehicle appears as a balance sheet asset for the duration of the contract. This means that capital allowances can be claimed at the rate of 25% per year on the reducing asset value of the vehicle (up to a maximum of £3,000 per year). However, VAT is not recoverable on the monthly payments. For vehicles over £12,000 a balancing charge or allowance is made on disposal of the vehicle. This therefore generates tax efficiencies by allowing for the full depreciation amount. A typical contract purchase will consist of a 12-60 month contract, which will include mileage restrictions, road tax and breakdown cover and also the option to purchase the vehicle at the end of the contract period. No VAT can be reclaimed in the rental of the vehicle but can be claimed as part of any vehicle services that take are undertaken.

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.