Finance Your Car
Finance Options Available At Chapelhouse
Here at Chapelhouse, we're committed to finding the right finance deal to suit your budget. Whether it's for a brand new or quality used car, or even on one of our fleet of vans for business purposes, our sales and finance team will help you every step of the way to apply for car finance.
Car finance may seem complicated at first. However, there are several options in which you can spread the cost across monthly payments for your car. This will be explained in full by our dedicated Sales Executives. We intend to take the stress out of car buying and make it as smooth a process as driving away in your new car.
At Chapelhouse, we're famous for our great finance offers, with no deposit options available and a choice of over 1000 quality used cars. Plus, we will even give you the value of your part-exchange back in cash up to £5000, plus free MOT tests for life!*
Car Finance Types Options Available
Personal Contract Purchase (PCP)
Personal Contract Purchase - is a variation of the Hire Purchase agreement, the key difference is that the anticipated value of the car at the end of the contract is calculated at the start of the agreement and this figure is deferred to the end of the agreement. This deferred sum is usually referred to as the Guaranteed Minimum Future Value (GMFV) or optional final payment. The PCP agreement also gives you the flexibility to decide whether you would like to own the car outright at the end of the agreement.
Hire Purchase (HP)
Hire Purchase - exactly what it sounds like, a hire agreement that gives you an option to own the car at the end of the agreement. The loan period is fixed typically between 12-60 months, and the finance agreement is secured against the car being bought. On an HP Agreement, you are obliged to purchase the vehicle by paying an Option To Purchase Fee.
Personal Contract Hire (PCH)
Personal Contract Hire - provides hassle-free motoring, you benefit from a low initial outlay, regular rentals and no worries about returning your vehicle at the end of the contract.
Car Finance Types More Options
Conditional Sale (CS)
Conditional Sales - is a purchase agreement, similar to Hire Purchase. The key difference between a Hire Purchase and a Conditional Sale is that once all the repayments have been made you commit to becoming the legal owner, there is no option to purchase fee.
Business Contract Hire (BCH)
Business Contract Hire - the efficient way of funding the use of the vehicle without the cost of ownership, you benefit from initial outlay, regular rentals and no worry about disposal of your vehicle at the end of the contract.
Personal Loan Finance (PL)
Personal Loan Finance - ideal for people who want to own the car at the beginning of the finance agreement and do not have a deposit to put towards their purchase, or in some circumstances where your current part exchange has negative equity.
Lease Purchase (LP)
Lease Purchase - same as conventional Hire Purchase the key difference is there is a balloon payment deferred to the end of the agreement. This reduces the fixed regular payments; however, the final balloon payment is not optional and the future value of your vehicle is not guaranteed.
Bad Credit Finance
Poor Credit Rating can often lead to customers being rejected for used car finance deals. At Chapelhouse, because we are a credit broker and not a direct lender, we work very closely with a panel of lenders to help you buy a car.
They will take a look at each one of our customer's credit history and do their best to find a finance deal that can be tailored to your needs.
Our finance team will offer you all the advice you need if you have money worries and will never pressure a customer into a situation that would harm them financially.
Alternatively, you can also get free and impartial advice by getting in touch with the Citizens Advice Bureau or Money Advice Service.Citizens Advice