Administration fee to be paid at the same time as the first monthly payment
Rate of the finance deal which includes all charges
Amount to be financed (Cash Price - Deposit)
On the Road Price
Administration fee to be paid at the same time as the last monthly payment and the Option to Purchase fee
See Payment Protection
Payment Protection could take care of your monthly finance payments to protect your credit rating, protect your savings and protect the ownership of your car when you need it most.
A sum a money paid up front to reduce the amount to be financed
Amount of money per mile to be paid when when the agreed mileage has been exceeded
Additional charge for rectification work where returned vehicles do not meet acceptable standards
Guaranted Asset Protection - could cover the difference between what an insurance company will pay in the event of vehicle being stolen or written off and the outstanding balance on a finance agreement
Traditional finance agreement whereby the customer pays a deposit, fixed monthly payments over a period of 1 - 5 years. Customer takes ownership when all instalments have been paid.
Fleet offer where the customer has the benefits of ownership, without ever owning the vehicle.
Total amount of miles permitted as per terms of the agreement
Monthly amount paid by the customer.
Manufacturer's recommended retail price
Cash price of the vehicle including registration fees etc
Administration fee to be paid at the same time as the last monthly payment to take ownership title of the vehicle.
The OFP is the optional final payment due under a PCP agreement. It normally equates to the Guaranteed Future Value.
Generic term for Selections (Flexible HP with a guaranted future value)
A charge levied by the government payable only when vehicles are registered for the first time
Flexible form of Hire Purchase with a guaranted future value
Cash price of the car + interest + fees
Price of the insurance premium
Amount borrowed
Length/ term of the finance agreement
Balance to be financed
Total loss insurance claim. Vehicle is uneconomic to repair and total loss insurance claim is to be made.
Fleet offer, off-balance sheet lease agreement