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 Surrey
Over the last 40 years, our customers have travelled from all 4 corners of the county to buy our cars, including people living in towns throughout Surrey including, Addlestone, Ashford, Bagshot, Camberley, Chertsey, Chobham, Dorking, Egham, Esher, Farnham, Gatwick, Godalming, Haslemere, Leatherhead, Lingfield, Redhill, Reigate, Shepperton, Staines, Sunbury, Walton, Weybridge and Woking.
We asked our customers if we could improve our service...
Mr P Colonna
"Effective and prsonable service. (Thank you Gary)."
Mr C Finch
"5 Star. I found Peter Nicholls to be helpful and not pushy. Allowed my wife and I to make our decision in our own time."
Mr S Hart
"Just a short note to say many thanks for the time you spent showing us the car & negotiating the price for us. We are very pleased with the car, it is the best we could find for our budget. We have bought a number of cars from MJA over a 22 year time period and we have always been pleased with the customer service and advice we have received."
Mrs P Owen
"None. You have got it spot on, Great salesman too, wee done."
Elaine Williams
"From the moment I stepped onto the forecourt, I had nothing but friendly, open and honest customer service. James was my salesman, who was very supportive with my queries as well as refreshingly giving me the space to view the car, make my own decisions on the purchase and part exchange. MJA in Guildford have a lovely balance of being highly professional, welcoming, fair and honest as well as making you feel as if they are doing the best for you. I would definitely recommend MJA to friends and family.. and just make sure you look around the complete forecourt, as they have good quality cars both out front and behind the building."
Mr M Cotney
"Very happy with the efficient friendly service and they served lovely coffee. Thank you Martin & John."
Mr S Greathurst
"Cant't think of anything to improve, very happy with service received."
Mr M Southeron
"My daughter bought two cars from MJA in the past, when she had a problem with one of these MJA went the extra mile to help her in other words you did not walk away."
Mrs B Barbor
"5 Star. We have bought all our cars from MJA for thirty years and they always give first class service. The cars are excellent."
Mr F Felix
"5 Star. I had a very good experience with MJA when I was looking for a car last week. They took the time to show me around and in the end I did a test drive in a car and bought it afterwards. Admin/paperwork was to the point and the staff very friendly."