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 Surrey
Over the last 40 years, our customers have travelled from all 4 corners of the county to buy our cars, including people living in towns throughout Surrey including, Addlestone, Ashford, Bagshot, Camberley, Chertsey, Chobham, Dorking, Egham, Esher, Farnham, Gatwick, Godalming, Haslemere, Leatherhead, Lingfield, Redhill, Reigate, Shepperton, Staines, Sunbury, Walton, Weybridge and Woking.
Opening Times • Mon-Fri 9am-7pm • Sat 9am-6pm • Sun 10am-5pm
WALTON
GUILDFORD
SUNBURY
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We asked our customers if we could improve our service...
"Stuart was excellent especially as we had just come from Car Craft. We got the car we wanted and the finance sorted even though my car was negative equity. Very pleased with car and service. Will be back next time for Trevor's new car. Thank you."
"No it was excellent service beginning to end."
"We were extremely happy with the service. Nigel Gama was meticulous in his explanation and very patient. We would have no qualms in recommending MJA to friends & family & of course Nigel personally."
"I found Gary very approachable and knowledgeable - all other staff were helpful."
"Was taken very good care of by Peter Leverton. Most helpful in every way."
"5 Star. John Turner was a very good salesman. No problems, I am enjoying the car."
"No. Please don't change any part of sales team."
"5 Star. Highly professional service and everyone was helpful, fully satisfied with the process."
"Very happy with the service I received . Will contact you again next time I look to renew my car."
"Nothing to change (no pushy salesmen). Tony was very good and helpful."