New and Used Car Finance

Personal Contract Hire

Personal Contract Hire is the choice favoured by most people who would prefer to use a vehicle, rather than own one. You simply choose a vehicle for an agreed period up to 48 months in exchange for a fixed monthly rental. There are no depreciation or vehicle disposal worries since you just return the vehicle at the end of the contract. Fixed price servicing and maintenance options are usually available with most contracts for an additional cost. Personal Contract Hire is the ultimate in hassle-free motoring.

HOW DOES IT WORK?

A Personal Contract Hire agreement can be structured to meet your needs based on the car, estimated annual mileage, the agreement duration and any additional services you require

You may pay an initial rental that can be tailored to suit your requirements. The greater the initial rental, the lower your regular rentals will be.

At the end of the contract you simply return the vehicle

Personal Contract Purchase

A Personal Contract Purchase is a flexible form of loan where some of the cost is deferred until the end of the agreement in order to provide you with the benefit of lower monthly payments. The deferred amount is known as the Optional Final Payment and is sometimes also referred to as the Guaranteed Future Value (GFV). At the end of the agreement you have three options: Retain the car, Return the car, Renew the car

• You agree the amount you need to borrow (less any deposit or part exchange).
• Tyn Lon then contact the finance company which (subject to credit checks) pays for the vehicle on your behalf.
• You repay the finance company on a monthly basis, for the length of the agreement.
• You do not take ownership of the car until the final payment is made.

HOW DOES IT WORK?

You will agree an estimated annual mileage and this will be used to determine the Optional Final Payment

You agree on the amount of deposit, and this figure combined with the agreement duration and Optional Final Payment will determine the amount of your monthly payment

You sign the agreement, pay the deposit and then make the monthly payments

At the end of the agreement we’ll write to remind you of the three available options

You decide which option is best for you. Your retailer may be able to help if you decide to part exchange the car

FEATURES AND BENEFITS
✔ A fixed monthly payment, allowing you to budget with confidence
✔ Potentially lower payments than Purchase Plan agreement
✔ Variety of options available at end of the agreement
✔ You can match the length of your agreement with the time you want to keep the vehicle

Purchase Plan

A simple way of financing that gives you the certainty of a fixed interest rate, and fixed monthly payments throughout the agreement. The initial deposit and repayment period can be structured to help meet your budget and the length of time you expect to keep the car. You can trade in your existing car and put this towards the initial deposit, or if you wish, just put down a cash deposit.

HOW DOES IT WORK?

The agreement can be structured to meet your individual requirements based on the car, the agreement duration required, the available deposit and your monthly budget

After paying the initial deposit you make regular monthly payments to cover the amount borrowed plus any interest and fees

The interest rate is fixed which means you’ll know exactly how much you will repay throughout the term of the agreement

Once all of the payments have been paid the car is yours

FEATURES AND BENEFITS
✔ A fixed rate of interest and a fixed monthly payment, allowing you to budget with confidence
✔ A simple loan that allows you to repay the amount payable with equal installments.