New Car Finance

When you come to Hendy Suzuki, the following finance options are offered when purchasing a new Suzuki vehicle:

Personal Contract Purchase (PCP)

If you're looking to keep your options open, a Personal Contract Purchase (PCP) lets you make low monthly payments by postponing the payment of a significant portion of the cost of the car to the end of the agreement. Once we've approved the finance application here at Hendy Suzuki, it's yours to drive away! Better yet, when you get to the end of your agreement, you can decide what to do next - pay the final lump sum, trade it in or return it.

PCP is similar to a Hire Purchase agreement - which is also available from Hendy Suzuki - but PCP allows for a smaller monthly payment for easy budgeting, and this is because PCP payments are related to the depreciation value of the vehicle rather than the full value of the car.

PCP is a simple and effective way to purchase a new car on a regular basis in an affordable manner. It is also possible for the Personal Contract Purchase agreement to be settled early if desired. The duration of a Personal Contract Purchase agreement is between 18 and 48 months, with 36 months being the favourite choice.

Features and Benefits:

  • • Borrow any amount from £1,000

  • • A guaranteed value for your car, as long as you stick to the mileage restrictions and keep the car in good condition

  • • Choose any new or used car as long as the car is less than 7 years old at the end of the agreement

  • • Fixed monthly payments to suit your budget

  • • You can set your annual mileage up to 24,000 miles a year

  • • Available to limited companies on a non-regulated basis.

At the end of the Personal Contract Purchase, you have three options: return the car to the finance company, pay the outstanding balance on the value of the car, or upgrade/renew the vehicle using its part-exchange value.

How we calculate your PCP payments

Based on your initial deposit, your likely annual mileage, chosen model and the length of your agreement, we calculate our predicted value (also known as the guaranteed future value, GFV) of your car. The predicted value is usually equal to the final lump sum repayment, so if you want to keep the car at the end of the agreement, you know exactly how much you will pay for it.

Hire Purchase (HP)

If you want to own your Suzuki at the end of the agreement then with Hire Purchase, you can! You simply agree an initial deposit with the team here at Hendy Suzuki, the length of your agreement (1-5 years) and a monthly payment amount. Once we've approved the finance application, it's yours to drive away - and better yet, once all the instalments have been paid, you own it!

The payments made towards your vehicle are broken down into convenient monthly instalments, allowing you to budget in a more effective manner. Fixed interest rates are applied to the monthly payments, so you never have to deal with any unexpected costs. We will work out a contract with you at the beginning of the process, and the financial costs will remain the same for the duration of the agreement, following an agreed-upon initial deposit.

Features and Benefits:

  • • 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

  • • Borrow any amount from £1,000

Personal Contract Hire (PCH)

Are you looking for a fixed-cost, fixed-term rental agreement? With Personal Contract Hire, it's easy - you simply choose a new car here at Hendy Suzuki, agree your maximum annual mileage and the length of your agreement, then pay an initial rental followed by fixed monthly rentals to suit your budget. Then at the end of your contract, you just hand back the keys!

Features and Benefits:

  • • Choose from advance rental of 1-12 months giving you flexibility to set your monthly rentals to suit your budget

  • • Fixed monthly rentals over your chosen period (2-5 years)

  • • Add vehicle maintenance to your agreement to make sure your car stays in tip-top shape (a maintenance charge will be added to your monthly rental).

Hendy Group are a credit broker not a lender. We can introduce you to lenders and their products which may have different interest rates and charges. We are not an independent financial advisor and you are not obliged to take our advice. We do not charge you a fee for our services. We typically receive commission from the lender (either a fixed fee or a percentage of the amount you borrow) but this does not affect the amount you pay. Authorised and regulated by the Financial Conduct Authority. Reference Number 311625.

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