Car Finance Products

AFS Car Finance has relationships with all the top motor funder’s and therefore is in a position to offer whichever finance product suits you the most at a market leading rate. 

Hire Purchase
Hire purchase allows you to spread the cost of the vehicle purchase price over a term between 12 to 60 months. A deposit is normally required and then the amount financed & interest is paid back with fixed monthly instalments.

Lease Purchase
Lease purchase agreements are normally between 12 to 48 months and offer the same fixed repayments as Hire Purchase but an amount equal to the predicted value of the vehicle at this time is deferred to the final payment. This results in lower monthly repayments and allows for flexibility of mileage and no damage de-hire charges over a PCP or Contract Hire agreement.

PCP
Personal Contract Purchase has terms normally up to 48 months again with fixed repayments and a guaranteed future value which you pay to own the vehicle at the end of the agreement although you can also choose to hand the vehicle back to the finance company. The vehicle needs to stay within the mileage amount stated at contract inception and also returned in a reasonable condition or the finance company does have the right to charge for the loss in value. 

Personal Contract Hire
Personal contract hire is commonly referred to as a vehicle lease. The vehicle is purchased by the finance company who estimates a value of the vehicle at end of the term and your monthly payment consists of the depreciation and interest. The benefits are simply no residual value risk and fixed payments but as with PCP the vehicle has to be returned in a reasonable condition and not a greater mileage than stated at contract inception or the finance company will charge for this.

Business Contract Hire
Business Contract Hire is commonly referred to as vehicle lease and allows a business fixed payment method for the use of a vehicle for a term of normally between 12-48 months. The payments attract VAT of which for cars 50% and for commercial vehicles 100% of the finance element is reclaimable, 100% of the VAT for any maintenance payment is reclaimable. The rental payments are also classed as a true business expense so can be wholly offset against corporation tax. The benefits are fixed monthly payments with no disposal risk but reasonable care has to be taken of the vehicle and also to remain under the stated mileage at the contract inception or the finance company will charge for loss of value. 

Finance Lease
Finance lease allows a business to obtain a vehicle use it for the length of the lease and beyond with sub sequential payments of secondary or peppercorn rentals. Payments attract VAT and also rentals can be offset against corporation tax. Unlike contract hire disposal must be undertaken by the lessee of which normally 99% of the disposal amount can be retained. 

Discounted Vehicle Supply
Our strong relationships with vehicle dealers let us demand far greater discounts than a one off purchase would attract allowing our clients access to significantly lower prices than if you were to approach the dealer directly.

Referral Reward Scheme
For every successful personal introduction whether it be friends, family or a business colleague, AFS will reward the introducer with at least £75 of High street vouchers. We can also set up formal introduction arrangements with Accountants, Independent Financial Advisors and Recruitment consultants to name a few.

Dealers
AFS Car Finance operates its own finance book with lending terms differing to the main stream point of sale motor funders giving AFS the ability to plug the gap left by primary funders. We also have a portfolio of 30 commercial lenders who will look at vehicle finance for business owners and directors which normally can involve flexible deposits and balloon payments. 

Introducers
A formal introduction agreement with AFS allows you to share in commissions so if your client base has a genuine requirement for vehicles significant additional incomes are available. 

Affinity Schemes
For businesses with large employee bases we can offer affinity schemes whereby we will become the appointed and preferred route for employees who are looking to acquire a new vehicle. Our honest advice, negotiated dealer discounts and competitive finance packages all add up to something that your employees will get a great deal of value from.

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