Are you looking for a more affordable way to buy a new car? Car finance gives you different options to spread the cost over smaller monthly payments. Overall, it’s designed to offer you cost-effective ways to drive your dream vehicle!

Budgen Motors offers a range of Telford car finance options, making your new car buying experience simple and more affordable.

Car finance comes in various forms, each with its own advantages. Here’s a summary on the most popular car finance options in Telford.

Personal Contract Hire (PCH)

Personal contract hire is a long-term lease where you pay set monthly payments to use the car. It’s usually for 1 to 4 years and you’ll return the vehicle at the end of the agreement.

Overall PCH allows you to drive new cars for low monthly fees, and you can change to a newer model every few years if you want to. You also won’t have the responsibility of owning the car after the term.

Personal Contract Purchase (PCP)

Personal contract purchase also involves monthly payments, but a portion will go towards owning the car. At the end of the term, you can either buy the car by making the final payment, or you can return it and swap the vehicle for a different one.

This flexible car finance option makes it a popular choice, alongside the predictable fixed monthly payments and Agreed Future Value of the vehicle up front.

Hire Purchase (HP)

Hire purchase allows you to spread the cost of your new car with fixed monthly payments. Once all payments are made, you officially own the vehicle. HP is a common Telford car finance option based on the value of the car, your trade in or down payment, and the contract length.

It’s simple to arrange and gives you a predictable payment schedule throughout the agreement.

Business Contract Hire

Business contract hire is tailored for companies, allowing them to lease vehicles for a fixed period. It’s an efficient form of car financing with a single monthly payment to use the vehicle. When the agreement ends, the vehicle is returned and the business can get another contract for the same car or a newer one.

This gives businesses predictable monthly payments, helps to maintain cash flow, and offers hassle-free vehicle management.

Lease Purchase

Lease purchase is a combination of leasing and purchasing. A deposit secures the vehicle, followed by set monthly payments over 3-5 years. The cost of the car and lease can be spread over the agreement, or you can just pay the lease, and a final purchase amount at the end of the contract. Once complete, the car is yours.

The advantages of lease purchase are the lower monthly payments and car ownership at the end.

Budgen Motors is a multi-award-winning dealership, serving the Shropshire area and beyond for over 40 years. With something as important as car finance, it’s important to use a reputable and experienced provider like us. With our fantastic value and outstanding customer service, we stand out as the go-to choice for car finance in Telford.

We have a huge range of new cars available to suit every lifestyle, including petrol, diesel, hybrid and electric cars.

Choosing a local Telford car finance provider offers multiple benefits, from a personalised service, expert market knowledge and local support on hand to help.

At Budgen Motors, we’re dedicated to providing a tailored experience, ensuring you find the right finance option for you and your new car. As manufacturer-approved dealers of new Citroën, Peugeot, Renault, Dacia and MG vehicles, we ensure you have access to the latest models and the best deals.

With our extensive experience and commitment to customer satisfaction, we are the trusted choice for car finance in Telford.

Have any questions about Telford car finance? Contact us today to discuss different options and get started on the journey to purchasing your new car!