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.
We asked our customers if we could improve our service...
"Excellent service. John Dunne was very helpful."
"Very happy with my experience of purchasing my VW golf . James was great and even delivered the vehicle to my home address . Will have no hesitation to recommend MJA car sales to my friends and family . Thank you !"
"Often a daunting experience, buying a car from MJA Car Sales, the Sunbury branch was made so much more pleasant by the sales team, especially Stuart Christie who was very knowledgeable about my purchase. Car was spotless, good test drive and I would certainly recommend this dealership, which has been in existence for decades."
"5 out of 5 stars - John was very kind and helped me with everything there, he did even the tax road and h helped me to try to find a cheap insurance as well. Very pleased with his service, thank you so much John!!"
"No, we were completely satisfied."
"Not really - it was very good service/process."
"None, all good thank you."
"The whole process was professional, polite, low key with no pressure or 'Hard Sell'."
"No, you, John and others all brilliant."
"5 Star. Found the staff very friendly helpful and professional first class service."