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.
We asked our customers if we could improve our service...
Karen McLeod
"Good showroom forecourt of cars for all. Bought a good car from them. Various cars for all budgets."
Ms J Donnithorne
"Excellent service from Simon from start to finish. He was friendly, efficient, drove the car to me for a test drive and picked me up from the station when I collected the car. All was in order. Am very happy to recommend your company!"
Mr S Smoothy
"No - Great service, quick delivery - very pleased."
Mrs J Knott
"No - was very impressed by the understated, professional very very helpful service. Will definitely buy our next car from MJA."
Ms C Quinn
"Great service as bought my previous car from them 8 years ago. They also gave my two sons great service when they bought their cars within the last 6 years."
Mr D Rawlins
"No, good service all round."
Mrs B Fleming
"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."
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."
Mrs B Bolingbroke
"Everything was done to our complete satisfaction and I have since recommended them to other people. There was no pressure from salesman at all. He just wanted to make sure I got the car I really wanted."
Mrs R Bevan
"5 Star. This was the third time back to you for a car. I have been impressed with the service provided each time. This time I was particularly impressed by the fact a driver was sent to get a car from another branch - it was no trouble."