Personal Finance - Hire Purchase

Hire Purchase is a well-known and trusted method of purchasing a car.

• You pay an initial deposit, and the remaining balance is payable by fixed equal monthly payments.
• The length of the agreement can be anything from 12 months to 60 months. Once all the payments have been paid you have legal title to the car.
• Our hire purchase programs are cost effective and can be tailor made to suit your budget.
• Our flexible hire purchase programs will allow you at any point during your agreement to change your car - you simply ask for a settlement figure and negotiate your new car purchase.

Personal Finance - Personal Leasing

An all-new and affordable way of driving away in a new car.

Personal Leasing is a whole new way of driving the car of your dreams, affording you peace of mind driving a new car without the worry of maintenance or depreciation costs. Simply pay for the use of a car and change it at 2 or 3 year intervals. Our Personal Leasing Scheme allows you to save the VAT charged on the purchase of a new car, in addition to enjoying very competitive vehicle pricing below list price.

Benefits at a glance:

• Fixed monthly payments
• Full maintenance package: 2 or 3 year package including road fund license
• No balloon payment
• Competitive rentals
• Flexible low deposits
• No hidden extras

Personal Finance - Personal Contract Plan (PCP)

'If it were more affordable would you change your car more often?'... Yes!

Then our Personal Contract Plan is a plan that is for you as if affords you greater flexibility to the way you finance your car.

You can benefit from affordable monthly payments, which can be lower than those you would expect from a traditional hire purchase plan.

From the outset of our PCP a 'balloon payment' or as we call it, a Guaranteed Minimum Future Settlement (GMFS) is agreed, based on an anticipated annual mileage, which is paid at the end of the contract. The GMFS and any deposit you choose to pay are offset against the invoice price, and your monthly payments are calculated on the remaining balance plus interest.

With our PCP contract at the end of the agreement, you have three options:

• Return your car to the Blade Motor Group and purchase a new car using any excess value over and above the GMFS towards the deposit on your next car.
• Pay the GMFV and keep your car.
• Return the car to the Blade Motor Group with nothing more to pay, subject to the car being in satisfactory condition, the mileage being as agreed and all the monthly payments having been made.

The benefits of a Personal Contract Plan:

• The balloon payment can reduce your monthly repayments making your choice of car more affordable.
• Equity protection affording peace of mind knowing that you have a Guaranteed Minimum Future Value.
• Flexible package for ease of budgeting, tailoring the payment and deposit to suit your circumstances.

Typical PCP Example:

Volkswagen Golf 5 Dr 2.0 Tdi 140 Eu4 Mrk5
Assume 12000 miles per annum

On the road cash price *	£18155.00
Deposit (10%)	£1815.50
Balance	£16339.50
Optional Final Purchase Payment ** (GMFV)	£8285.94
Total Charge for Credit (Inc. acceptance fee with first payment)	£3496.09
Total Amount Payable (Inc. Purchase fee payable with final rental)	£21836.09
Length of loan (months)	36
Monthly Payments	£329.99
APR	10.20%

* Subject to availability. On the road cash price is based on manufacturers' recommended retail price and includes delivery, number plates, 12 month road fund license and the goverment's first registration fee at £38.00 and VAT at 17.5%.

** Subject to condition at the end of the agreement.

*** Subject to terms and conditions.