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 Hampshire
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 Hampshire, such as, Aldershot, Alresford, Alton, Andover, Appleshaw, Basingstoke, Bentworth, Binsted, Bishops Waltham, Blackwater, Bordon, Brockenhurst, Clanfield, Cove, Cowplain, Curdridge, Eastleigh, Emsworth, Fareham, Farnborough, Fleet, Fordingbridge, Frogmore, Gosport, Havant, Hayling Island, Hedge End, Hiltingbury, Horndean, Hythe, Lasham, Liphook, Liss, Locks Heath, Lovedean, Lymington, New Alresford, New Milton, North Baddesley, Petersfield, Portchester, Portsmouth, Purbrook, Ringwood, Romsey, Rowner, Southampton, Southsea, Stockbridge, Stubbington, Swanmore, Titchfield, Totton, Waterlooville, Whitchurch, Whiteley, Winchester, Yateley.
Opening Times • Mon-Fri 9am-7pm • Sat 9am-6pm • Sun 10am-5pm
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We asked our customers if we could improve our service...
"Not at all - Mike is one in a million. Thank you once again MJA for such a smooth transaction and a great car as always."
"I am very pleased with the car and happy with the help I received from Alan at Guildford. Thank you."
"Pre delivery checks / servicing. Rear tyres on my car were at almost twice the correct pressure! (But still very pleased with the car, thanks!)"
"None wahatsoever. Sales had a wealth of knowledge. Many thanks."
"No - Great service, quick delivery - very pleased."
"No. Sales process was very smooth and professional, but friendly and helpful."
"Is there any aspect of our sales process that you would like to see improved no matter how small? No, everything went well."
"Polite and efficient service from Adam. Very straighforward process with no pressure. Would recommend MJA."
"5 star. Mark at the Guildford branch sold us the car (with the help of John when he was on holiday). At no time did he push us or harass us. It was a stress free process. I would definitely recommend the Guildford branch again."
"No and I cannot praise Tony Brown enough for his tremendous and personal help in me securing/buying my car, a Toyota Yaris T-Spirit. The best car I have ever owned! I am constantly recommending MJA & Tony Brown personally to all and sundry that I meet, who are looking to buy a used car!"