MJA Car Sales

SUNBURY 01932 721000

WALTON 01932 234000

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Used Car Finance

Welcome to MJA Car Sales Plc, the home of 100’s of low mileage quality used cars and very affordable car finance packages.

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.

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Car Finance Explained

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

  • You’ll be able to drive away a car that you may not have managed to buy outright.
  • Unlike a PCP or PCH contract, you won't need to estimate your mileage at the start of your Hire Purchase agreement, so you'll avoid excess mileage charges.
  • Once you’ve made your final monthly payment, you'll have full ownership of the car.

Things to bear in mind

  • Monthly payments may be higher than other finance options, such as PCP, as you're paying off the full value of the car.
  • You won’t be able to sell the car without settling the finance.

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:

  1. Buy the car by paying the final balloon payment (the Guaranteed Future Value)
  2. Hand the car back - your finance company has already predicted the Guaranteed Future Value of the car, so handing the car back will settle the deal.
  3. Part exchange for a new car

Pros

  • Monthly payments on a car financed by PCH are usually lower than if your car is financed by a Hire Purchase agreement.
  • If you decide not to buy the car, you can simply walk away when you've made all the monthly payments.
  • Similar to PCH, you can drive away a brand new car every three years without worrying about it running out of warranty, or selling it on.
  • If your car is worth more than the Guaranteed Future Value then you can use that equity towards a deposit on a new car.

Things to bear in mind

  • If you want to buy the car you will need to pay your final balloon payment (the Guaranteed Future Value)
  • Similar to PCH, you will need to agree on an approximate mileage estimate at the beginning of your contract.

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...

Mr M Driver Mr M Driver
"Perfect."

LT LT
"What a great service from Mja car sales, excellent service from James,great communication, I will definitely recommend who wants to buy a vehicle. Thank you."

Marni Hewitt 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!"

Gaby Gaby
"Thank you for making the experience a pleasurable one. The Sales advisor did not pressure sell the car. He let the car sell itself."

Miss S Argyle Miss S Argyle
"Matt was brilliant! He looked for the best deal according to our requirements. He recognised when our preferences changed and worked with it. We feel that he was honest and cared that we were happy with the end result, and we are!"

Miss C Rozier 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!"

Mrs J Barham Mrs J Barham
"Pleasant and knowlegable staff. Very helpful but no real hard sell - pleasant change compared to some of the garages we visited!"

Mrs A Banfield Mrs A Banfield
"Peter Nicholls was very helpful. Look forward to my next car from you."

Mr S Thomas Mr S Thomas
"No. You have a super sales team and I can only praise your customer service. First class!"

Mr P Worrall Mr P Worrall
"Nothing to change (no pushy salesmen). Tony was very good and helpful."

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