Financing Your Next Car

The advanced payment that you make at the beginning of the agreement. This could be a cash deposit or your part exchange or a combination of both.

The amount of money you are borrowing. This is calculated by subtracting any deposit or part exchange value from the price of the car you are buying.

The amount of money that the lender charges you on top of the money you borrow.

This is the rate of interest on the loan. The Annual Percentage Rate is a handy way of comparing the total cost of different finance agreements. It is calculated to include any fees and interest you pay during the finance agreement.

This is the amount of time you will make repayments over. This is usually quoted as a number of months.

This is the total cost of the finance agreement, including any cash deposit, part exchange, the balance funded, any fees and interest.

This is the final payment on a PCP agreement. It is usually quite a bit bigger than the regular monthly repayments. The amount of the balloon payment is based on the future value of the car and set by the lender at the start of the agreement.

This is a smaller fee charged at the end of an agreement if you wish to purchase the vehicle and own it outright. The amount charged will vary from lender to lender, but typically this is in the £1–£100 range.

This is a rating of how reliably you make repayments. It is based on your existing borrowings and your history of managing your finances. There are three main credit reference agencies in the UK who provide a credit score. Different lenders will use different agencies when assessing your application. Depending on your credit score, the lender may offer to lend you money at a different rate of interest.

No - you don't always need a deposit, although many people prefer to pay a deposit or use their part-exchange in order to lower the monthly repayments.

Usually, the only document you need to take out a car finance agreement is a UK or EU Driving Licence. If you do not have one of these then we may still be able to help with certain lenders.

Yes you can. If there is finance outstanding on your current car then we can settle this for you. This process needs to be handled correctly but our fully trained Special Automotive Finance Experts will advise you how to do this.

Online, over the phone or in person. You can apply on this website at any time of day by pressing ‘Apply for Finance’ on the vehicle page you are interested in. If you prefer to apply for finance over the phone or in person, then we are more than happy to help you with your application during our opening hours.

We can often accommodate borrowers who have a less than perfect credit record. Because we work with a finance broker, we can offer finance agreements from specialist funding lenders such as Northridge and Blue Motor Finance. All lending is subject to status.

At Richard Nash Cars we are authorised and regulated by the Financial Conduct Authority and our salespeople are all SAF trained to give you accurate information. In order to help you make an informed decision, we can talk you through the Hire Purchase and Personal Contract Purchase options that we offer. Because we work with a limited number of lenders and usually only offer PCP or HP options, other types of lending sourced elsewhere may suit your needs better. You should always seek independent financial advice before entering into any finance agreement.

Your application can be completed in minutes. We pride ourselves on ensuring that all administration is carried out efficiently and correctly. We are very familiar with all aspects of the documentation and finance processes. We’ll make sure that you’re enjoying your new car as soon as possible.

We receive a fixed commission from the lender or broker for introducing you to them. This means that we receive the same amount of commission regardless of the amount of money you borrow, the type of agreement you take or how long you choose to borrow the money for.