Finance Information From Yeomans Motorstore
Find out about our finance options we have available and how they can work for you

Here at Yeomans Motorstore, we work hard to bring you the very best used cars in the South East region, providing you with a wide variety of models that exude great quality throughout. We are delighted to bring you affordable vehicle financing solutions that make it as affordable and manageable as can be.

We predominantly offer two types of vehicle financing - Personal Contract Purchase and Hire Purchase.

Personal Contract Purchase - you will pay an initial deposit and fixed monthly repayments, but only be paying off the depreciation in the vehicle’s value over an agreed period. This means that monthly payments are often significantly lower but that, in order to buy the car outright, you will have to pay an optional final payment at the end of the term. Alternatively, you can return the vehicle to us with nothing more to pay.

Hire Purchase - enables you to pay a deposit on your vehicle followed by monthly repayments over an agreed period of time which pays off the balance of the borrowing. At the end of the term, you will be the overall owner of the vehicle.

Find out more below the finance options we have available and for more information.

What is Personal Contract Purchase (PCP)?

A Personal Contract Purchase is a flexible agreement to finance a car. You will pay a deposit for your chosen car, then the amount borrowed is based on the remaining value of the car. A monthly payment will be agreed which will be based on the expected annual mileage of the car, the monthly payment will be paid over an agreed duration, normally 24, 36 or 48 months. Once all the monthly repayments have been made and you are at the end of your agreement, you can then choose what you would like to do. With PCP you won't own the car until the Optional Final Payment has been paid, if you decide to retain ownership. The Optional Final Payment amount will have been agreed at the beginning of the agreement.

At the end of the agreement you will have three options including:

  1. Renew - you can part exchange your vehicle at a dealership and start over again.
  2. Retain Ownership - You may prefer to keep the vehicle, to do this you will be required to pay the Optional Final Payment in full.
  3. Return - If your needs or requirements have changed, you can return the car to the dealer with nothing more to pay (subject to mileage and condition. Excess mileage charges may apply)

What is Hire Purchase (HP)?

A Hire Purchase agreement lets you pay a fixed monthly payment over the term of the contract, then at the end of the agreement you will own the car subject to a nominal Purchase Fee being paid, unlike PCP you will not have an optional final payment. Interest is calculated at the start of the agreement, this means the amount you pay is unaffected by any future changes in interest rates.

A Hire Purchase agreement allows you to choose how much deposit you wish to pay upfront, this can include any part exchange value and you can choose the period you wish to repay the balance over, typically from 12 months to 5 years.

With Hire Purchase you will own the car at the end once the purchase fee is paid, so there are no mileage restrictions or excess mileage charges to be paid within the agreement.

The team at Yeomans Motorstore will be able to provide all the advice you need on making the right decision for you, as well as detailing in full the rates of financing that are available. You’ll be able to complete your application and receive approval in next to no time, contact us today for more information.

Finance is subject to terms and conditions. #34488