MJA Car Sales

SUNBURY 01932 721000

GUILDFORD 01483 543800

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...

Miss S Gane Miss S Gane
"Not at all. I didn't feel pressured into buying and I felt very safe buying from MJA."

Mr R Mather Mr R Mather
"We were very pleased with the service we received and in particular the sales executive, Adam Cole, was particularly helful and informative."

Mr R Smolinski Mr R Smolinski
"MJA is the only place where you should buy your next car. I make my deal today and with these guys her I could buy a car every month. Thank you very much to Michael and Nigel for the extremely excellent, professional service. I drove away in my new car completely satisfied. Highly recommend MJA for everybody!!! Five stars."

Mrs S Hampton Mrs S Hampton
"All very good."

Mr M Pearce Mr M Pearce
"Easy, not pressurised process. Very happy with car so far!"

Mrs S Sayers Mrs S Sayers
"5 star. I am a returning customer to the Guildford branch and was delighted to see they still give a 5 star service. I test drove the car and Peter went through all the workings/controls on the new car. Excellent service all round, I would thoroughly recommend."

Mr E Shayler Mr E Shayler
"No everything is just perfect, I arrived without any appointment when your salesman Tony Brown introduced himself to me then took me to the car I was looking for, then left me to take as long as I liked with no pressure. This ended up being the best car buying process I've ever been through, all thanks to Tony. He is an asset to your company, I will be back when my wife's car needs changing."

Mr P Colonna Mr P Colonna
"Effective and prsonable service. (Thank you Gary)."

Mrs S Chowdhury Mrs S Chowdhury
"5 Star. John and Mike were both fantastic from start to end and did not pressure into the sale. Very pleasant buying experience."

Mr T Pugh Mr T Pugh
"None - perfect just the way you are. Thank you all."

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Opening Times  •  Mon-Fri 9am-7pm  •  Sat 9am-6pm  •  Sun 10am-5pm

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