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 Dorset
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 Dorset, such as, Abbotsbury, Blandford Forum, Bournemouth, Bridport, Canford Cliffs, Child Okeford, Christchurch, Dorchester, Ferndown, Gillingham, Lyme Regis, Okeford, Fitzpaine, Poole, Portland, Shaftesbury, Sherborne, Shillingstone, Sturminster Newton, Swanage, Tarrant Crawford, Verwood, Wareham, West Moors, Weymouth, Wimborne, Wool.
We asked our customers if we could improve our service...
Brian
"Thank you for your email - Yes, the whole process of selling our car was very straightforward and we got a better deal than we had been offered by our local Ford dealer. We are glad you like the car!"
Mr D Mason
"Great service from Gary at MJA Guildford. 5 stars. Very happy with my purchase."
Miss C Rozier
"I was very well looked after. I was not sure whether I wanted to buy a car and Peter took the time to explain my options … and I left putting a deposit down - so I think you guys are doing quite well!"
Mr P Bowpitt
"5 Star. Very good, informative and conducted by Matt Kemp in a professional and considerate manner."
Miss L Payn
"Excellent customer service… Good regular communication. Would definitely use again. Made purchasing a vehicle a very easy process."
Mrs S Glenny
"I really can't say anything needs improving. I was dealt with professionally and respectfully by Peter Leverton. The whole process was stress free and smooth. Thank you all."
Mrs J Harris
"No - we returned to you because we like the sales process - no pushy salesmen etc."
Mrs J Maskell
"No need for improvement."
Mr S Garner
"No - great service, very happy!"
Zoe Hollingsworth
"When I first arrrived I was asked if I needed any help, I was then left to look around the cars on my own. Found the car I liked, took it for a test drive and within the week I drove it home. Lovely friendly staff, kept me informed, answered my questions and most of all, no sale pressure. Would recommend."