Personal Contract Purchase (PCP)
Personal Contract Purchase, or PCP, is a type of finance agreement with a fixed monthly payment for a fixed duration, usually 3 or 4 years with a balloon payment at the end. You can decide at the end of the agreement if you want to keep the car by paying the balloon payment, or hand it back to the lender.
Lease Purchase
This type of agreement functions in a very similar way to a PCP, apart from the fact that you don’t have the ability to hand the car back. You can either refinance the balloon, pay it off, or sell the car to cover the outstanding amount.
Refinancing
Depending on your circumstances, refinancing an existing agreement can help better spread the cost of your existing finance agreement. This can either reduce the amount you pay per month, or even help you to own the asset quicker by refinancing the agreement over a shorter term.
Business Loans
Commercial Loans are loans given to a business, not an individual, which aren’t usually asset-backed. This means the loan is given to the business itself, rather than lending money in order to purchase something specific.
Hire Purchase
A Hire Purchase, or HP, is a type of finance agreement where you spread the cost of the loan over a fixed period with fixed monthly payments, and you own the asset at the end of the term.
Equity Release
Equity Release agreements are designed to help individuals and businesses release part of the value of an asset in order to redistribute the funds, paying back the amount borrowed over a pre-determined period. Whether it’s to help pay for property, home improvements or something else entirely, equity release is an option customers may consider when looking to access the funds tied up in their vehicles or other assets.
Balloon Refinance
A balloon payment – the lump sum due at the end of PCPs and Lease Purchase Agreements – can often be refinanced, enabling you to keep the car without having to pay the balloon off in one go.
Invoice Finance
Invoice Finance is designed to help a business release cash tied up in invoices it’s owed. These types of loan allow a business to turn it’s unpaid invoices into working capital, helping with cash flow and allowing the business to continue it’s growth.
Fit-out Finance
Whether refurbishing an existing space or fitting out a completely new one, Fit-out Finance can help spread the cost over more manageable monthly payments, allowing the business to maintain it’s cashflow.