The finance world is full of jargon, rates and fees, which can make deciding how to fund your next purchase a daunting experience. More and more buyers are choosing finance to fund their dream vehicles. There are several types of vehicle finance, each with their pros and cons.
All types of finance aim to help you drive your dream vehicle without needing a cash lump sum to pay for it upfront. The most widely recognised and popular option is personal contract purchase (PCP), but other finance methods such as hire purchase (HP) and leasing are steadily gaining popularity. Like any finance package, you should carefully consider whether you can afford the repayments – a cash price will always be available but may not be the best option long term.. At Forza Finance we remove all the unnecessary and confusing details to simply find the best vehicle finance options to suit your budget.
Check out our simple guide to the most common car finance options, to assist you with the multiple finance packages available.
A personal loan is another option available for financing your vehicle and is a straight forward way of spreading the cost of your loan.
The rate of interest is usually fixed (but can be variable) making the budgeting of your new purchase simple and easy and you take immediate ownership of your vehicle.
Re-financing gives the ability to provide quick access to the value held in a vehicle or asset to redeploy elsewhere, such as to fund a deposit on a new vehicle or asset purchase or just simply ease cash flow.
Maybe you want to re-finance your classic car or prestige vehicle in order to release funds for an addition to your collection or an asset for business.
Finance Lease is one of the most popular means of finance available and enables your business to acquire a broad spectrum of assets or equipment.
With this finance plan you have operational control over the asset without ownership, and the option to gain a share of the economic return when the asset is sold at the end of the agreement.
Seasonal Payment Plan
Seasonal Payment Plan allows for more flexible approach to business finance.
Available on Hire Purchase agreements, this finance solution provides business customers who experience seasonal trading periods, the opportunity to tailor a finance plan to meet the specific demands of their business.
Stock Financing is a mechanism which releases working capital from stock such as finished goods or raw materials, which works by lenders purchasing stock from a seller on behalf of the buyer.
It can be used as a revolving facility to enable access to cash as and when a business needs it.
Personal Contract Hire (PCH) is a straightforward hire agreement for private individuals.
With this finance plan the option of hiring a new vehicle rather than ultimately owning it means there is no need to worry about depreciation or selling, you just simply pay the fixed monthly rental over the term of the agreement.
Balanced Payment Plan
This is a Variable Rate Hire Purchase with the option of a balloon and offers the benefit of fixed monthly repayments at a variable rate of interest.
Unlike a fixed rate finance product a Balanced Payment Plan tracks each change in the Finance House Base Rate, or London Interbank Offered Rate (LIBOR) depending on your agreement. As the rate increases or decreases so does the total sum of interest that you pay.
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After being quoted for PCP finance by a main dealer I decided to look for my own finance.. Forza Finance came up in my search engine so I gave them a go! I can honestly say this was the best decision I could of made. From start to finish I was looked after by Nick Relf. Nick was open, honest and so easy to deal with, responding to all my questions and requests with real urgency and clarity. Not only that, I saved money as well! Thank you Forza and thank you Nick.. First class service
Fantastic service and unbeatable product!! Having been refused an HP offer from the main dealer, Forza didn't only find a product that matched my requirements, they manged to beat APR quotes from other lenders by quite a considerable amount, saving huge amounts. The professionalism, knowledge and support provided for by Danny Page, not only made an otherwise complicated process flow with ease, he kept me fully updated and answered all my questions in real time. If you're looking to save time, money and stress, I can’t recommend Forza Finance enough! Probably the best finance company to have dealings with. In a word, superb!
Excellent service. Jordan looked after us throughout and was always available to talk through any questions or queries we had. The speed of service was superb - the process took less than a day from start to finish with the funds being transferred almost immediately. I would highly recommend Forza to anyone who's looking to get finance for their vehicle. We're now looking forward to picking up our camper van tomorrow and making the most of the sunshine :). Many thanks Jordan
Jordan at Forza Finance has been an absolute star to work with. Nothing was too much trouble for him, and he really went all out to make the deal happen for me. I was kept in the loop the entire time, and Jordan was extremely easy to get hold of should I have had any questions - no nightmare phone trees to deal with! An all round great experience with Forza and Jordan, I can’t rate them highly enough.
Thanks for taking the time and making an effort in finding the right finance package for me. This was an important purchase and Forza displayed both the knowledge and expertise in securing and executing the deal with the minimum of fuss. I would highly recommend their services.
I wanted to get the best finance deal for my purchase and I'm extremely pleased I took my business to Forza. The Lease Purchase product recommended provided a strong residual value and affordable monthly payments. I will be back when I'm looking to buy again.
The number of options and subsequent advice made it easier for me to understand the products and make the best choice for me. Thanks for all your help and I will definitely be recommending you to friends, family and colleagues.
Forza Finance have worked with new client Hillside Leisure, specialists in Motorhomes and Campervans, on their funding solutions. Their first joint customer is now the proud owner of a Stone Blue VW Birchover.
From start to finish very impressed with the finance offered and customer service! Would recommend these guys before using dealer finance.
Excellent comprehensive service. Clear and helpful advice, trouble free from start to finish, extremely helpful adviser (Barry Stockwell) and provided clear and timely communication with me the client, the car dealership and the lender. In addition to great customer service, Forza Finance managed to find the best interest rate on the market and provided the most cost effective PCP solution when compared against three other brokers and the car dealership's own finance. Would recommend without reservation. Thank You.