August 13, 2018 at 11:33 AM
Westwood C&C's finance partner, MotoNovo, are using a new pricing model that reflects individual customer circumstances and can provide finance deals on your next used car from only 12.9% APR Representative, with rates from as low as 4.9% APR. Interest rates offered will focus on the customer’s credit history and will allow for a more transparent buying process.
This aims to take the stress out of the buying process as customers can rest assured that the finance quote factors in their credit score as well as the amount borrowed and their deposit, rather than having to negotiate a deal. Customers with very poor credit ratings could still be able to get finance deals from MotoNovo and equally, those with excellent credit scores may be rewarded with lower interest rates. Our in-house finance team will be able to help you fill out the necessary information to complete a quote and gain a lending decision, meaning you could be driving away in no time.
This may sound familiar as it is a process used for personal loans and mortgages, but until now it hasn’t been widely used in the car finance industry. It provides a much fairer way of generating interest rates and should allow you to get more personalised deal that is suited to your circumstances.
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Representative example: Cash Price £9,999.00. Deposit £0. Total Amount of Credit £9,999.00. 59 Monthly Payments of £223.42. with a final payment of £224.42. which includes an Option to Purchase Fee of £1.00. Duration of Agreement is 60 months. Total Amount Payable is £13,404.42. Total Cost of Credit £3405.42. Annual Fixed Interest Rate of 6.81%. Representative APR 12.9%.