Once the perfect Mazda has caught your eye, finding the ideal means to fund your purchase is essential. With a range of personal finance options available from Mazda, you will be able to drive a high-quality model from the convention-defying range, with the selection of payment plans ensuring that the price you pay will be suitable for you.
At Eden Motor Group, we make it as easy as possible for you to secure your ideal car. With that in mind, be sure to take a look at our new car offers. These regularly updated deals enable you to enjoy benefits such as 0% APR for a full two-year period, or a dealer contribution to selected models when you take out a finance plan.
By choosing to pay for your vehicle over an agreed period of time, you have the opportunity to secure your perfect car sooner – by making modest monthly payments that won’t break the bank.
The plans we offer include Hire Purchase, Personal Contract Purchase, Conditional Sale and Personal Contract Hire. Each has its own set of pros and cons, and our experts will be happy to talk you through them and find the most suitable option for you. For further information, please contact your nearest Eden Mazda branch.
Mazda Personal Contract Purchase (PCP)*Mazda Personal Contract Purchase is flexible and allows shorter term finance agreements, so you can change your car more often. You have the option of taking full ownership of your Mazda with payment of an Optional Final Payment at the end of the contract, returning your Mazda, or exchanging it for a new Mazda. Take a look at our video to get more information.
Mazda Personal Contract Hire^
Perfect for those looking to drive the very best and very latest models in the Mazda range, Mazda Personal Contract Hire will enable you to drive a new car and enjoy the freedom to change every 2, 3 or 4 years based on the length of the agreement.
When you have chosen your vehicle, you will then agree your annual mileage and decide on the agreement term with one of our Business Managers.
We will then determine the Guaranteed Minimum Future Value (GMFV) of the vehicle at the end of the agreement and work out a deposit and monthly amount that works for you.
At the end of your agreement you will then have three options:
Return – Simply return the car the back to us
Retain – Keep the car by paying the optional final payment
Renew – Trade it in for another car
For a quotation, help, or advice contact us and ask to speak to one of our Business Managers.
You can normally settle your agreement early by asking the finance company to provide you with a settlement figure. However, the finance company will require you to pay off the difference between what your car is worth, and what you still owe and there may be a difference which is known as negative equity. On the other hand, you may find that at the end of your term your car is worth more than the Guaranteed Future Value, which means you will have some positive equity to contribute towards your next car.
What is Hire Purchase (HP)?
Hire Purchase is a way to finance buying a new or used car. You will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends, and you own the car outright.
The short answer is yes, you can end your finance early. There are different provisions within each finance agreement that allows you to do just that. If you have got through two-thirds of the way through your finance agreement, the options to end the finance agreement early open up.
For a Hire Purchase agreement, there is an option of paying it off early through a settlement fee. A settlement fee covers the cost of any remaining unpaid instalments and interest payments remaining on the agreement. Once the settlement fee is paid, you take full ownership of the car early.
Under a Personal Contract Purchase agreement, you can also pay a settlement fee for bringing the agreement to an end early. After that, you can choose to hand the car back or you have a second option. Through a PCP agreement, you can take full ownership of the car by paying off the remaining Guaranteed Minimum Future Value also known as a balloon payment.