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Car HP FCA

Benefits 
  
• Fixed repayments and fixed interest rate 
• Option to hand the vehicle back early (terms and conditions apply) 
• You can set the payments and term to suit your budget 
• Rebate of future interest if you settle your agreement early 
• Additional customer protection with regards to the satisfactory quality of your vehicle 
• Once all the repayments are made you keep the vehicle 
• Straight-forward application process 
  
Risks 
  
• No benefit to you if general interest rates go down, as your agreement has a fixed interest rate 
• The lender takes security in the vehicle - you cannot sell or give the vehicle away until you have paid all payments under the agreement 
• The vehicle can be repossessed if you don't keep your repayments up to date 
• Finance must be settled when you sell/part-exchange the vehicle 
• There is no guaranteed future value with this product 

 

Car PCP FCA

Benefits 
  
• Part of the loan is deferred to the end of the agreement 
• Lower regular monthly payments than traditional Hire Purchase 
• Your choice to buy a more expensive vehicle 
• Future value guaranteed by the lender 
• Option to hand the vehicle back subject to terms & conditions 
• Fixed repayments and interest rate 
• Can settle or part exchange at anytime 
  
Risks 
  
• You won't be able to keep the vehicle unless you repay the final payment 
• No benefit if general interest rates go down 
• The lender takes security in the vehicle - you cannot sell or give the vehicle away until you have paid all payments under the agreement 
• Vehicle can be repossessed if you don't keep your repayments up to date 
• Finance must be settled when you sell/part exchange the vehicle 
• Excess charges will apply if you choose to hand the vehicle back in a poor state or with excess mileage 
• If you wish to keep the car at the end of the agreement, a significant portion of the finance will need to be paid at that time and so you should prepare for this 

 

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