J Edgar & Son (Rowrah):
J Edgar & Son (Dunmail Park):

Hire Purchase Explained

Hire Purchase

If you want to pay a fixed amounts every month with nothing else to pay at the end of the term, after which you own the car, Hire Purchase is the option for you.

With Hire Purchase, you agree an initial deposit with the dealer, the duration of your agreement, anywhere from 12 - 60 months (1–5 years) and a monthly payment amount.

Once the finance application has been approved the car is yours to drive away, but not until all the instalments have been paid do you own it.

Benefits include

  • Flexible deposits typically from 5% of the On The Road price
  • Fixed interest rate over your chosen period (1-5 years)
  • Fixed monthly payments to suit your budget
  • Choose any new or used car as long as the car is less than 14 years old at the end of the agreement

The possible Cons

  • You don’t own the car until you’ve made your final payment, which means if you get into financial difficulties the finance company could take it away.
  • Your deposit and term length will affect your monthly payments. Your monthly payments are likely to be higher the smaller the deposit is and the shorter the term of the loan.

We are here to help.

If you would like some advice on your options for purchasing a car with J Edgar & Son, Our sales team are available to explain the options available to you. You can contact Rowrah on 01946 861607 or Dunmail Park, Workington on 01900 604393 to make an appointment to discuss your options. You can also use the enquiry function below. A member of our sales team will get back in touch once they have looked into your enquiry.

J Edgar & Son (Rowrah):
J Edgar & Son (Dunmail Park):

J Edgar & Son Limited is an Appointed Representative of Automotive Compliance Ltd, who is authorised and regulated by the Financial Conduct Authority (FCA No 522976). Automotive Compliance Ltd’s permissions as a Principal Firm allows J Edgar & Son Limited to act as a credit broker, not as a lender, for the introduction to a limited number of lenders and to act as an agent on behalf of the insurer for insurance distribution activities only. We can introduce you to a selected panel of lenders, which includes manufacturer lenders linked directly to the franchises that we represent. An introduction to a lender does not amount to independent financial advice and we act as their agent for this introduction. Our approach is to introduce you first to the manufacturer lender linked directly to the particular franchise you are purchasing your vehicle from, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to make the next best offer of finance for you. Our aim is to secure the best deal you are eligible for from our panel of lenders. Lenders may pay a fixed commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Different lenders may pay different commissions for such introductions, and manufacturer lenders linked directly to the franchises that we represent may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. If you ask us what the amount of commission is, we will tell you in good time before the Finance agreement is executed. All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over. Guarantees may be required.

Regulated Complaints
Post: Automotive Compliance Ltd, The Factory, 44 Alfred Street, Gloucester, GL1 4DD
Telephone: 01452671560
E-mail: complaints@automotive-compliance.co.uk
If we cannot resolve your complaint within 8 weeks, you may refer your dispute to the Financial Ombudsman Service. This service is free to use. Their consumer helpline is avilable on 0800 023 4567 or 0300 123 9123 or you can visit their website at www.financial-ombudsman.org.uk