How does new car or bike finance work

There are many types of new car or bike finance though personal contract purchase (PCP), personal contract hire (PCH), and hire purchase (HP) are the most common. Personal contract purchase - You pay an initial deposit (typically 10% of the vehicle's value) followed by monthly instalments on the amount you borrowed. At the end of the agreement, you can choose to own the vehicle by making the optional final payment, or hand the vehicle back to the finance company with nothing further to pay (provided it's within good condition and within the agreed mileage). Personal contract hire - You pay an initial rental followed by monthly payments for a set period, which is confirmed at the start of the agreement. At the end, you return the vehicle to the finance company with nothing further to pay (provided it's within good condition and within the agreed mileage). You do not have the option to purchase the car. Hire purchase - You pay an initial deposit, then pay off the remaining loan balance in monthly instalments. Once fully paid, you own the vehicle. There are no mileage limits. Find out more about payment options for your new car or bike or contact us today .

Can I part exchange my car or bike?

We’ll accept part exchanges of any make and model car or bike, as long as it’s in good condition. We’ll be able to offer you a higher value exchange when compared to cash. Just fill out a form or get in touch and we can discuss part exchanging. Sell my car Sell my bike

What are the pros and cons of Business Car Leasing and Personal Contract Hire?

There are lots of reasons why leasing or hiring a car through Dick Lovett is a great idea but, of course, you still have responsibilities and you won’t own the vehicle at the end of the contract hire period. Here we’ve set out the key points of the leasing deals: Pros Drive a brand new car every few years Low initial outlay - typically equivalent to 3 months rental payment Fixed, manageable monthly payments – helps with manage cash flow and enables you to drive a better car for your budget Choice of contract term - from 24 to 48 months Option to include servicing and maintenance If you run a business, there are tax benefits – car lease costs can be up to 100% allowable against corporation tax depending on its Co2 emissions, and you can reclaim 50% of the VAT on the monthly rental cost No depreciation to worry about - at the end of the contract, the vehicle is simply handed back so no worries about resale value or having to dispose of it Hassle free – everything is taken care of by the dealer and finance company Road tax, manufacturer’s warranty and breakdown cover is included Only have to pay for fuel and insurance Cons You don’t own the car and there is no option to buy it at the end of the contract You will need the amount of mileage you need and if you go over this, you will have to pay an excess mileage charge If you decide to end the contract early, you may incur charges You must return in a well-maintained condition. If not, there will be extra charges to pay You must pay for fully comprehensive insurance cover

How can I contact my Finance or Insurance provider?

The finance partners we deal with are; BMW Financial Services MINI Financial Services BMW Motorrad Financial Services Ferrari Financial Services Jaguar Financial Services Land Rover Financial Services Aston Martin Financial Services Porsche Financial Services Alphera Financial Services Santander Consumer Finance Black Horse Evolution Funding Our insurance partners are; Fortegra Auto Protect Click on the relevant provider to go to their website.