Looking to buy a new car? Before you hit the road, it’s important to talk about car finance. First, what exactly is car finance? Car finance is a popular way to make purchasing a new vehicle more affordable. It's designed to offer you cost-effective ways to buy your new car with manageable monthly payments.

At Budgen Motors we're here to make buying your new car as smooth as possible, with our range of Shropshire car finance options.

There are many car finance options available, from personal contract hire to hire purchase. Each option comes with its advantages. Here’s an overview of the most popular car finance options in Shropshire.

Personal Contract Hire (PCH)

Personal contract hire is like a lease. You pay a set monthly amount to use the car but won’t own it at the end of the agreement. It’s typically for 1 to 4 years and will include a down payment and monthly payments until the end of the term.

The advantages of personal contract hire are the ability to drive new cars for low monthly fees, being able to change cars every few years, and no requirement for a deposit.

Personal Contract Purchase (PCP)

Personal contract purchase works similarly to PCH, but a portion of your monthly payment goes towards owning the car. To keep payments low, you’ll only pay a portion of the car’s value during the term, with an optional final purchase at the end. At the end of PCP, you can make that final payment and keep the car, or return the car and refresh the deal for a different one.

Advantages of PCP include fixed monthly payments, Agreed Future Value up front and the choice to buy the car at the end of the agreement or change it for a newer one.

Hire Purchase (HP)

Hire purchase allows you to spread the cost over time with fixed monthly payments, eventually owning the car outright. It’s a very common Shropshire car finance option, that takes into account the car’s value, your trade in or down payment, and the length of the contract.

It’s simple, easy to arrange and ensures a predictable payment schedule throughout the agreement. Once a hire purchase agreement is complete, the car is yours.

Business Contract Hire

Business contract hire is ideal for businesses that need a vehicle but don’t want to purchase one. It’s an efficient form of car financing that has a single monthly payment to use the vehicle. At the end of the hire period, the vehicle is returned and you can get another contract for the same car or a newer one.

This gives businesses predictable monthly payments, tax benefits and hassle-free vehicle management.

Lease Purchase

Lease purchase is another popular Shropshire car finance option. Overall, it is part lease, part purchase. You use a trade in or deposit to secure the vehicle, pay a set amount per month, and pay it over 3-5 years. You can either spread the cost of the car and lease over the agreement, or just pay the lease and then pay the final purchase amount at the end of the contract. Once complete, the car is yours to keep.

The advantages of lease purchase are the flexibility, fixed rates and car ownership at the end.

When looking for Shropshire car finance, finding a reputable provider is key. Look for an experienced dealership with a great reputation and a track record of satisfied customers, just like Budgen Motors! We’re a multi-award-winning, family owned dealership and have been proudly serving Shropshire and beyond for over 40 years.

We have a wide range of new car makes and models to suit every lifestyle, including petrol, diesel, hybrid and electric cars.

There are many benefits to choosing a local Shropshire car finance provider. Shropshire car finance providers like Budgen Motors offer a personalised and tailored service to suit you. We know the local market inside out, so you can trust us to find the best deal and new car finance options for you. Plus, with local support on hand, you'll have peace of mind throughout the journey of buying your new car.

At Budgen Motors we're proud to offer a huge range of new cars, and are manufacturer-approved dealers of new Citroën, Peugeot, Renault, Dacia and MG cars.

Overall there is no ‘best’ car finance option, only what’s right for you, and we’re here to help. With fantastic value and outstanding customer experience, we're ready to assist you in finding your perfect new car, and provide you with great car finance in Shropshire.

If you have any specific requirements or questions about Shropshire car finance, contact us today. We’re happy to discuss different options with you and help you purchase your new dream car.