Used Car Finance

With Westwood Car & Commercials

Whatever your budget we can help make owning your new car affordable. We are experts in offering car finance to customers in Kent area. If you have had trouble getting a used car elsewhere then give us a call to see if we can help, we have flexible finance deals to suit all budgets.

Westwood Car & Commercials work very closely with the following finance providers to offer you a range of used car finance benefits:

Hire Purchase

Hire purchase is a simple, straightforward way to spread the cost of buying a new car. It's fixed rate finance - with a fixed monthly payment.

The deposit you pay is flexible - typically between 0-50% of the vehicle cost. The remaining balance, plus fixed interest, is repaid in equal instalments over an agreed period (12-60 months).

Why Consider Hire Purchase?

  • Low deposit - keeps valuable personal or business cash available
  • VAT free - no VAT on payments

Control - you decide the deposit, you decide the term

Fixed monthly payment - perfect for budgeting

Flexibility - doesn't compromise your other lines of credit

Assets - you gain vehicle ownership

Tax benefits - Tax allowances for business users

Personal Contract Purchase (PCP)

Personal Contract Purchase is highly attractive and increasingly popular. It combines low, fixed monthly payments with exceptional flexibility at the end of the agreement.

Your car's guaranteed future value is calculated (based on agreed mileage and age) and becomes deferred as a final payment (balloon).

PCP is ideal if you're opting out of a company car scheme. You use your company car allowance to fund your PCP monthly payments without paying company car tax. Either:

  • Buy the car by paying an agreed minimum residual value
  • Or, subject to mileage and condition, return the car with nothing more to pay (e.g. if depreciation resulted in negative equity)

Part-exchange the vehicle for another

Sell the vehicle privately (settling the balloon)

Lease Purchase

Hire purchase with a balloon offers lower monthly payments than normal hire purchase. Instead, at the end of the agreement, you can make a final lump sum payment (or 'balloon') to own your car.

It's fixed rate finance - but with a lower fixed monthly outlay since you defer repayment of some of the borrowing. At the end of the agreement options include car purchase, refinance, part exchange or resale.

The deposit you pay is flexible - typically between 0-50% of the vehicle cost. The deferred balloon element is calculated on the estimated future resale value of the car.

The difference, plus fixed interest, is repaid in equal instalments over an agreed period (maximum period of 48 months), plus a final balloon payment.

Contract Hire

Contract Hire can offer a package to include routine servicing and maintenance costs for a slight increase in the monthly rentals. All scheduled maintenance work will be carried out by the main dealer network and at a local dealer of your choice. Maintenance packages include replacement tyres (excluding punctures), batteries, exhausts and all parts that are subject to fair wear and tear**.

At the end of your agreement we will arrange to collect your vehicle free of charge from your office address. Not only does this avoiding time-consuming disposal issues and any worries over depreciation of the vehicle* but allows you to make the best use of your valuable time. Annual Road Fund Licence is included in the monthly rental for the duration of the contract.

Key Benefits of Business & Personal Contract Hire:

  • A low initial outlay from just 1 month's payment
  • Business Contract Hire offers allows VAT to be reclaimable on the rentals***

Flexible terms from 24 to 48 months

Road Fund License included in the monthly rental

A choice of rental period

No depreciation risks

Optional monthly maintenance packages**

The ability to forward plan

The lowest fixed monthly rentals

A simple 'hand back' process at contract maturity**

Removes time consuming disposal issues*

Makes more capital available to you

Complete peace of mind

Personal Contract Hire offers corporate pricing for private individuals

Business Contract Hire offers the ability to show the vehicle off your balance sheet

Business Contract Hire allows a proportion of the rentals allowable against tax***

* Excess mileage and vehicle damage charges other than fair wear and tear may be payable.

** Subject to terms and conditions of the agreement.

*** VAT registered businesses*, VAT is reclaimable on the rentals, based on 50% of the VAT on the capital element (assuming an element of private use) and 100% of the VAT for any maintenance charges.