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Finance

HP - HIRE PURCHASE

Hire purchase is the most popular way of funding vehicle purchases. Payments are divided equally over the term at a fixed rate of interest and after the final repayment the vehicle becomes the property of the customer.

With a comprehensive panel of lenders we have the right Hire Purchase agreement for almost all vehicle types and your various needs.

  • Competitive finance rates
  • Funding for vehicles up to 15 years at the end of the agreement
  • 60 month terms on up to 7 year old cars
  • Funding for Cars, LCV, Motorcycles, Motor Homes and Taxis
  • Other asset types considered
  • Fast and efficient acceptance often in less than 1 hour
  • Same day payment to your supplying dealer

Buy Now - Start Paying in 6 Months

Buy Now Start Paying in the Summer
• First payment can be deferred for 6 months
• No fees loan
• Terms from 42-60 months available
• 9.9% APR (subject to status..., must be 18 years or older, t&c's apply)

For more information please call 07794 129 056

MOTOR LOAN

Similar to a personal loan, a motor loan does not give the finance company title to the asset, nor does it afford the customer certain rights that a Hire Purchase agreement would.

Motor loan products are used by Evolution Funding to predominantly fund lending on vehicles where the advance exceeds the industry benchmarked pricing recommended by two automotive valuation guides, Glass’s and CAP.

Customers wishing to purchase add-on products or who have negative equity from their part exchange can be offered a motor loan product as an alternative solution to them having to find additional deposit or simply not being able to complete the purchase.

Evolution Funding work with multiple motor loan providers to ensure that we have the most comprehensive offering and product choice for our customers.

  • Competitive finance rates
  • Funding for vehicles up to 12 years old at the end of the agreement
  • Loan to cap retail up to 200% (via our motor loan+ product)
  • Lifestyle/Double Cab vehicles funded
  • Negative Equity from your part exchange funded

We have flexible monthly finance packages available from major prime and sub-prime motor finance lenders with whom we can propose customers even if you have a poor credit rating.

Evolution will consider customers with the following problems on both cars and light commercial vehicles:

  • Low Credit Score
  • CCJs and Defaults
  • Current or past slow repayments
  • Self employed
  • Debt Management
  • Past Bankruptcy or IVA

There are several ways of borrowing for a vehicle, please read below to find which type is likely to suite your budget and needs. You can use our finance calculation tool to apply for Hire Purchase. Don't hesitate to contact us for further information. If you were thinking of PCP or Business Finance please phone or pop along.

PCP - PERSONAL CONTRACT PURCHASE

Personal Contract Purchase agreements (PCP) offer you flexibility, allowing you to tailor the repayments to suit your budget.

PCP is similar to a Hire Purchase contract but instead of paying off the entire value of the car in monthly instalments, you defer the expected ‘future value’ of the car until the end of the agreement. You therefore only pay a portion of the borrowing.

This has the benefit of reducing your monthly repayments meaning you can often afford to purchase a higher value or newer vehicle than you may have expected.

The Guaranteed Minimum Future Value (GMFV) is calculated and will vary depending on the period of the agreement and predicted annual miles.

Evolution Funding have partnered with several leading independent PCP providers and can offer customers the following benefits compared to a manufacturer scheme:

  • Competitive finance rates
  • 24 to 60 month PCP agreements
  • We compare multiple PCP providers to ensure you get the best deal
  • Market leading residual values
  • Available on both New and Used cars up to 5 years old at inception
  • PCP for business users and Limited Companies
  • Fast and efficient acceptance often in less than 1 hour
  • Same day payment to your supplying dealer
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