Suzuki Finance

How do they work?

 1. Hire Purchase (HP)

You choose your deposit amount at the beginning of the agreement, and then pay equal monthly repayments with a fixed interest rate, over your chosen period. After you’ve made all the repayments including any interest, you will become the owner of the vehicle.

Depending on your credit status, you can:

• Borrow any amount from £3,000 for new vehicles and from £2,000 on used
• Repay over 1-5 years depending upon the age of your vehicle
• Decide on the deposit you would like to pay (no deposit may be available, subject to status)

2. Personal Contract Purchase (PCP)

You choose your deposit at the beginning of the agreement, and then pay equal monthly repayments with a fixed interest rate, over your chosen period. At the end of the agreement you choose one of the following 3 options:

1. Part Exchange: subject to paying your agreement in full you can part exchange the vehicle at the end of the term or any time during the agreement. New credit agreements are subject to status.
2. Return: You have the option to return the vehicle at the end of your agreement. To avoid incurring charges, the vehicle needs to be in good condition and within the permitted maximum mileage.
3. Own: Own the vehicle outright by paying the optional final repayment. This will include a £10 purchase fee.

You will also decide how many miles you’re likely to travel each year (up to 24,000 miles), this will affect your monthly repayments and the optional final repayment amount. Make sure you select a realistic mileage allowance, otherwise excess mileage charges may be incurred if you decide to return your vehicle above the agreed contractual mileage.

3. Personal Contract Hire (PCH)

Personal Contract Hire works by choosing from an initial rental payment in advance of 1-12 months, you then set the contract term between 2-5 years.

You then decide your annual mileage limit – the minimum is 5,000 and the maximum varies by vehicle. If your circumstances change during your agreement you may be able to amend your contracted mileage. You can also then decide whether to add an optional maintenance package at an additional cost.

At the end of the contract you must return the car and you’ll have nothing more to pay if the vehicle condition is in line with BVRLA guidelines and hasn’t exceeded the maximum agreed annual mileage. If the vehicle doesn’t meet the mileage and condition terms, then excess charges will apply.

We will be able to talk you through the finance options available to make sure we provide you with the correct affordable product. You could also try the finance calculators on the new and used car pages.  

The video’s on this page provide information to help you choose the right product for you.