Finance Options at Unity Automotive

Finance Options at Unity Automotive Group Ltd

Whether you are planning on buying your next car through your business or personally, manage your new or used car purchase with our suite of flexible vehicle finance options.

We have a wide selection of vehicle finance offers available and it is important that you understand the different types of car finance we have available.

PCP Finance Explained

Personal Contract Purchase allows you to drive a new or newer vehicle for a lower monthly payment in many circumstances than an equivalent Hire Purchase agreement – you will not own the car unless you opt to pay a balloon payment at the end of the agreement.

PCP is typically available for terms from 24 to 60 months and is available subject to factors including terms and conditions of credit acceptance (credit history/scoring), vehicle age and mileage at the start of the agreement and availability on certain vehicles.

With PCP, there is a lump sum usually referred to as a deferred payment or balloon payment at the end of the finance agreement. If for instance you selected a 36-month term, the '36th payment' would be a balloon figure which is calculated based upon the annual mileage you have anticipated adding to the vehicle for the 36-month term. If you wish to keep the vehicle beyond 35 months, you must repay the 'deferred payment'.

Your other options include updating your vehicle early during the PCP agreement, if you owe less on the PCP agreement than your car is worth at that point in time, then you can use this sum (equity) as deposit or partial deposit for your next vehicle if you so wish. If you owe more than your vehicle is worth during your PCP agreement (negative equity) then more cash deposit may be required from you to achieve an acceptable monthly repayment.

Another option is that, in most circumstances, you can hand the vehicle back at term end, for example with a 36-month PCP agreement, you can hand the vehicle back to the finance company on month 36. The vehicle must be returned in good condition and in accordance with the BVRLA fair, wear and tear standard. For more information on PCP financial agreements, please view this video or contact our sales team.

HP Finance Explained

Hire purchase allows you to pay for your chosen new or used vehicle monthly over your desired term, usually between 12 - 60 months, depending on the age of the vehicle at the start of the financial agreement. You will own the car at the end of the agreement which is why monthly repayments are often higher than they would be with a PCP agreement.

Once you have made the last monthly payment/rental and providing no outstanding payments are due you have nothing further to pay towards the vehicle finance and you will then own the vehicle outright.

Hire purchase agreements like all financial agreements are available subject to terms, conditions, vehicle type and credit acceptance. Hire purchase agreements are typically secured against the asset. For more information on HP financial agreements, please view this video or contact our sales team. 

PCH /BCH Finance Explained

Personal/business contract hire finance offers hassle free motoring and a cost efficient way of funding the use of a new vehicle without the associated costs of ownership – you will not own the vehicle at the end of the agreement.

For a fixed monthly rental and a low initial outlay, you have a vehicle at your disposal that works efficiently all of the time. The contract can be tailored according to your individual needs whether funding the vehicle through your business or personally.

A full maintenance package can also be included within the monthly rental. This covers regular servicing as well as the costs of wear and tear to brakes and tyres.

At the end of your contracted term, simply return the vehicle to us (within the agreed mileage and in good condition), choose your next vehicle and start again with a new contract. The vehicle must be returned in good condition and in accordance with the BVRLA fair wear and tear standards.

Why Finance Through a Dealership

What is Hire Purchase?

What is Personal Contract Purchase

Unity Automotive Group Limited is an Appointed Representative of Automotive Compliance Ltd, who is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Unity Automotive Group Limited to act as a credit broker, not as a lender, for the introduction to a limited number of lenders and to act as an agent on behalf of the insurer for insurance distribution activities only. We can introduce you to a selected panel of lenders, which includes manufacturer lenders linked directly to the franchises that we represent. An introduction to a lender does not amount to independent financial advice and we act as their agent for this introduction. Our approach is to introduce you first to the manufacturer lender linked directly to the particular franchise you are purchasing your vehicle from, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to make the next best offer of finance for you. Our aim is to secure the best deal you are eligible for from our panel of lenders. Lenders may pay a fixed commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Different lenders may pay different commissions for such introductions, and manufacturer lenders linked directly to the franchises that we represent may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. If you ask us what the amount of commission is, we will tell you in good time before the Finance agreement is executed. All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over. Guarantees may be required.