MJA has been providing used car finance or over 40 years. We offer our customers a range of finance options at very competitive rates. Whatever your finance requirements, our friendly sales team will find the right deal for you.
Hire Purchase (HP)
If you choose to pay for your car with a Hire Purchase agreement, you will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends and you own the car.
Pros
Things to bear in mind
Personal Contract Purchase (PCP)
Personal Contract Purchase (PCP) is similar to a Hire Purchase agreement as you will usually pay an initial deposit, followed by monthly instalments.
What's different with PCP, is that your monthly instalments are only paying off the depreciation of the car, rather than the entire value of the car.
How does PCP actually work?
At the start of your PCP contract, a Guaranteed Future Value (GFV) of the car is estimated. This is the car's expected value when your contract ends.
For you, this simply means that the money you're actually borrowing and repaying is the difference between what the car is worth now, and what it will be worth at the end of your contract (the depreciation). You'll pay this difference off in monthly instalments.
This means lower monthly payments for you, but you will need to pay a final payment at the end (the Guaranteed Future Value) if you want to buy the car.
Once your monthly payments are finished, you’ll have three options:
Pros
Things to bear in mind
Can I settle my PCP deal early?
You can normally settle your deal early, however many finance companies will require you to pay off the difference between what your car is worth now, and what you still owe (negative equity). For example, if your car is currently worth £12,000 but your finance settlement figure is £14,000, then you will need to pay the £2,000 to clear the negative equity. Keep an eye out for early repayment charges!
Which finance option is best for me?
It depends what you're looking for. If you're someone who likes to change their car every three years, and you're looking for low monthly payments then a PCP or PCH deal might suit you.
If you want to own your car at the end of your monthly payments without paying a final lump sum, then a Hire Purchase deal offers this.
Map of towns in Berkshire
Over the last 40 years, our customers have travelled from all 4 corners of the country to buy our cars, including people living in towns throughout Berkshire, such as, Ascot, Bracknell, Bray, Caversham, Cookham, Crowthorne, Dorney, Eton, Maidenhead, Newbury, Reading, Riseley, Sandhurst, Slough, Thatcham, Twyford, Windsor, Wokingham, Woodley.
We asked our customers if we could improve our service...
Barry
"Very helpful and contact is good."
LT
"What great service from MJA Car Sales, excellent service from James, great communication. I will definitely recommend who wants to buy a vehicle. Thank you."
Mr D Smith
"5 Star. Very professional."
Ms J Goldring
"I am so pleased with the whole experience. I had several dealerships nationwide looking for a particular spec Fiesta that nobody else managed to find over a period of 3 - 4 weeks. Matt kept me informed throughout, and he and other staff I spoke to were very well informed. Also there was no 'pushy salesman' stuff. I recommend MJA to anyone looking for a 'good as new' used car! Thank you very much"
Alvin
"MJA is a legit real deal. Thank you for giving me a very easy transaction. Shout out for Simon for helping me out to get my dream car!"
Paul John
"Friendly and professional staff. Willing to listen and give advice on available cars in stock. Local and handy, cars are clean and always feel mechanically sound."
Mrs J Jones
"No. Very pleased with all aspects."
Mr D Morgan
"4 Star. I recently bought a car from MJA Sunbury and would like to thank MJA at Walton and Sunbury for helping me purchase a car (Ford Focus) that I am happy with. MJA have a deserved reputation in the area for customer service, and providing quality low mileage used cars. I also want t apologise to Mike and Nigel, if I came across as a demanding, pedantic individual. I shall recommed you, without hesitation, to my friends and family."
Mike
"Excellent and professional service once again. Third car i have purchased from MJA and very happy with my new purchase Nissan Qashqai. Matt the salesman is an asset to the organisation, very helpful and and a pleasure to purchase a car from."
Mrs B Bolingbroke
"Everything was done to our complete satisfaction and I have since recommended them to other people. There was no pressure from salesman at all. He just wanted to make sure I got the car I really wanted."