The nearly new car retailer

great yarmouth
  • 01493 288908

Ipswich
  • 01473 679698

Norwich
  • 01603 963682
Home > finance

Get Finance on a car with Hammond Cars

tick Flexible Finance Deals

Here at Hammond Cars, we offer flexible finance deals on all makes and models, with deals suited for all budgets.

tick Finance for you

When you choose Hammond Cars as your provider, we won't just throw any old general contract at you - each of our packages is personalised and tailor-made for you based on your own circumstances. Based on the amount you borrow and your individual credit score. we'll offer you the best possible deal available.

tick Quick and Easy

Here at Hammond Cars, we make it quick and easy to arrange second hand car finance for our customers, on all makes and models, so you can get into your new vehicle as quickly as possible

tick Competitively Priced

At Hammond Cars, we offer competitively priced finance deals that are often cheaper than conventional funding solutions

FINANCE OPTIONS

Hammond Cars Vehicle Finance

 

What is Hire Purchase (HP)?- This is a very straightforward form of car finance. You choose the car > the finance company pays the dealer. You then hire the car from the finance company, taking responsibility for it and making monthly payments until you have paid the total amount owed. At the end of the repayment period, you have the option to take ownership of the car.

Will I Have Fixed Monthly Repayments? - Yes
What sort of repayment periods is available? - Most widely used are 12-60 months, but every case can be tailored to suit your needs.
Will I need a deposit? - usually we recommend to put down approx. 10% deposit, however we do offer special finance deals to our customers with 0% deposit!
When should I choose this form of Finance? - If you want to own your own car in the long term
Will I own the car? - The finance company owns the car during the repayment period. If at the end of the term you take up the option to purchase, the car becomes legally yours. As you've paid off the cost of the car by this point, all you pay is a small admin fee which usually is between £1 to £10.
Can I sell/ pay off car early? - You can pay lump sums off the agreement at any time, choosing to reduce the monthly payments or the term. You can also end the agreement early by paying the total balance due. The car is then yours to sell. There may be a small charge for early repayment, but you will save on interest.
What if I get behind my payments? - If you fall behind with payments, finance company can choose to take the car back. They would sell it and use the money to repay your debt. If they can't raise enough to pay off remainder of your loan, you will have to pay the difference plus any court costs. However this is the bitterest possible scenario. If you see that you are struggling with keeping up repayments, you should contact your finance company immediately and they would be able to advise and assist you with best way on how to resolve this situation. I wouldn't use this!
HP can be really simple and trouble-free way how to buy a new car, you just need to plan what you can realistically afford before deciding to borrow and make sure that repayments are at a level you're comfortable with.

What is Personal Contract Purchase (PCP)? - With PCP, as with HP, you choose the car and the finance company pays the dealer. You still pay monthly installments to the finance company as with other forms of credit, however you are only paying for part of the total amount due. Remainder of loan is due as a lump sum at the end of the repayment period, which also is a GUARANTEED MINIMUM FUTURE VALUE. This means you pay less each month for a car of the same value than you would with a traditional HP plan. At the end of the repayment period you can simply give the car back and start again with a newer vehicle, or you can choose to pay the pre-agreed lump sum and buy the car. This contract is fantastic if you like to change your car often.
There are a couple of things you need to be aware of if you choose to return a car. As keeping your car in good condition, so car can be appraised to best possible value., You have to estimate your mileage at the start, as the finance company are giving you a guaranteed value based on the mileage you provide. If you overestimate your mileage you will pay bigger monthly payments than you actually should, however if you underestimate, you'll be charged (e.g. 0.10p ) for every mile you have driven above the yearly estimate.

Hammond Cars Used Car Finance

Will I Have Fixed Monthly Repayments? - Yes
What sort of repayment periods is available? - Most widely used are 12-48 months, but every case can be tailored to suit your needs.
Will I need a deposit? - usually we recommend to put down approx. 10% deposit, however we do offer special finance deals to our customers with 0% deposit!
When should I choose this form of Finance? - it would suit you if you like to update your car every few years and are happy not to be car owner. If you want to buy a car at the end of repayments, other finance options should work out cheaper overall.
Will I own the car? - The finance company will own the car during the repayment period. If you choose to buy the car at the end of the period rather than giving it back, it becomes yours once you've made the final lump sum payment.
Can I sell/ pay off car early? - You can pay lump sums off the agreement at any time, choosing to reduce the monthly payments, the term or reduce the final payment at the end of the agreement. You can also end the agreement early by paying the total balance due. The car is then yours to sell. There may be a small charge for early repayment, but you will save on interest.
PCP can be a great way to get to drive a car you couldn't afford any other way!