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...
Chris
"5 out of 5 stars - I had a few questions to ask about the vehicle and I emailed these, getting a phone call from MJA car Sales, Guildford promptly. These queries were answered quickly and efficiently. So, the staff member was friendly and although I have not been to see or test drive the car yet, I was given friendly and helpful advice about the next stage considering that I live 150 miles from the dealership."
Miss A Pocock
"On both car purchases everything has been great!"
Mr P Land
"Really pleased with the car and very impressed with the service offered by Alan, Brian and yourself, I'll definitely be in contact with my next requirement."
Louise Payn
"Excellent customer service... Good regular communication. Would definitely use again. Made purchasing a vehicle a very easy process."
Sam and Wai Fozzard
"Great service from Stuart, answered all our questions and made long distance sale quick and easy...."
Mrs W Arrow
"5 Star. I can't fault the service I was given from Adam Cole and John Dunne excellent service as usual. I have bought most of my cars from MJA and would recommend them every time. I'm very happy with my new car. Thanks to Adam & John."
Louise Payn
"Excellent customer service... Good regular communication. Would definitely use again. Made purchasing a vehicle a very easy process."
Ms E 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 refeshingly 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 P Rowlands
"Not really. I found all members of staff to be very helpful, courteous and not at all pushy. Will recommend to friends."
Marni Hewitt
"I came to MJA Guildford to test drive an Audi A4 to be greeted by James. After having spent a couple of days at the larger car dealerships in Guildford my experience with him was like a breath of fresh air. He was consummately professional and at no point did I feel pressurised to make a decision on the car. He went way and beyond in helping me with my purchase, including independently sourcing boot mats and dog barriers for the boot which was extremely helpful. Once I had decided to buy the car he assisted me all the way through the buying process and was very patient with my endless questions! I am thrilled with my car and honestly could not have been more delighted with the service. I will definitely return to James and MJA in the future. Thank you!"