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 Sussex
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 Sussex, such as, Amberley, Crawley, East Grinstead, Gatwick, Haywards Heath, Horsham, Lancing, Lindfield, Littlehampton, Midhurst, Petworth, Selsey, Shoreham by Sea, Southbourne, West Wittering, Westbourne, Woodmancote, Worthing, Yapton,
Bexhill on Sea, Brighton, Crowborough, Eastbourne, Fletching, Hailsham, Hastings, Hove
Lewes, Newhaven, Ninfield, Peacehaven, Plumpton Green, Rye, Seaford, Sedlescombe, Wadhurst.
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...
"Great service from Gary at MJA Guildford. 5 stars. Very happy with my purchase."
"5 Star. A garage that understood my needs and requirements. There wasn't any time during the buying process that I felt pressured or pushed! Everything was done to a satisfactory outcome, so highly recommended 5 stars!"
"5 Star."
"5 Star. I've had some pretty bad experiences with car dealers in the past, they seemed to be type cast. However my dealings with John and Lewis at Guildford has restored my faith in the motor trade. They were both extremely helpful, without being pushy and were both in good humor, I left with my Ford Focus with no questions still to ask. A thoroughly good experience throughout."
"They were very helpful and friendly."
"None, Tony Brown was fantastic in guiding us through the whole process."
"Excellent previous service from John Turner at Walton so went back to him when I wanted to change my car and he found me what I wanted."
"I was unable to collect car on the arranged date as I broke a bone in my foot. Sales team very kindly agreed to put on hold so I could collect car a few weeks later."
"Sales process very good."
"No, we were looked after very well."