Finance

Euro Imports really can be a 'one stop shop' in your car buying process, not only are we able to take your car in part exchange but we are also able to offer competitive rate finance packages from mainstream lenders like ING, Barclays Asset Finance, Lombard etc.
Indeed, as we have an Office of Fair Trading issued Consumer Credit Licence we are able to invoice cars to any finance provider including the one that you may already have a relationship with.
Unlike a lot of our competitors who on the one hand save you money on the car and then on the other hand try and get it back through the finance by 'stinging' you with an inflated interest rate. This is not a practice we engage in.
We work closely with our colleagues at Sussex Asset Finance, they are independent finance brokers and have arrangements with most mainstream lenders. Being independent and with years of experience they are able to offer good advice and to help you choose the right finance deal that is tailored to your circumstances.

They can be contacted directly on 01444 246000.

Below are some of the popular types of finance that are available:   

PERSONAL FINANCE

There are three main ways to finance your car:

*Hire Purchase
*PCP – Personal Contract Purchase
*Personal Leasing

How Hire Purchase Works

*After paying the initial deposit, the balance is repaid by fixed, equal monthly payments
*The Hire Purchase agreement can run for up to 5 years
*Once all the payments are made, you become the owner of the vehicle
*You can change your vehicle at any point during the agreement. A settlement figure is agreed, saving some of the interest charges

The Benefits of Hire Purchase

*You don’t have to use bank borrowing to fund the vehicle purchase
*The fixed repayment period helps you plan your finances

How Personal Leasing Works

Personal leasing is a new option for consumers, offering the peace of mind of a new vehicle, without the worry of maintenance or depreciation costs. All you do is pay for the use of vehicle and change it when you want to!

The Benefits of Personal Leasing

*Low deposit
*Fixed monthly payments
*No hidden extras
*No residual to pay at the end of the agreement
*Competitive rentals up to 5 years
*Full maintenance packages (2 or 3 year contracts available)
*Road tax and manufacturers warranty included

How Personal Contract Purchase (PCP) Works

*At the start of the contract, a 'balloon payment' or Guaranteed Future Value (GFV) is agreed, which is paid at the end of the contract. This amount and the deposit you choose to pay are set against the vehicle price and your monthly repayments are based on the balance, plus interest.
*Affordable monthly payments which are often lower than those from a traditional finance plan

At the end of the agreement, you can:

*Return the vehicle to Euro Imports and choose a new vehicle using any excess value over the GFV towards your deposit on your next Euro Imports vehicle
*Pay the GFV and take ownership of your vehicle
Return the vehicle with nothing more to pay (provided that you have made all monthly payments, the vehicle being in good condition and has not exceeded the agreed mileage)

The Benefits of Personal Contract Purchase

*Peace of mind from knowing that you have the benefit of a Guaranteed Future Value.
*Lump sum 'Balloon Payment' can reduce your monthly payments making your chosen vehicle more affordable.
*Variable repayment and deposit terms to help you budget your finances.

BUSINESS FINANCE


Whether you are a sole trader, limited company or a partnership, we have a range of finance solutions to meet your business needs.

There are three main ways to finance your vehicle:

*Lease Purchase
*Contract Hire (with maintenance)
*Contract Hire (without maintenance)

How Lease Purchase Works

*Lease purchase is similar to Hire Purchase, but is more flexible to meet your business needs changing needs.
*Your initial deposit normally forms 'monthly payments in advance' and a final lump sum ‘balloon’ payment is usually included. The ‘balloon’ payment is a flexible payment that reduces the amount of the monthly repayments.
*After making the ‘balloon’ payment, you can either keep the vehicle or part exchange it - putting any surplus equity towards a deposit for your next vehicle.
The Benefits of Lease Purchase

*You don’t have to use bank borrowing to fund your vehicle purchase.
*A flexible final ‘balloon’ payment, together with reduced monthly payments, tailored to suit your financial needs.

How Contract Hire with Maintenance Works

Fixed Rental Payments
Accurate vehicle and financial planning enables you to spread the cost of your vehicles, thereby improving cashflow for your business. Optional Maintenance-our ability to negotiate preferential terms extends to service and maintenance requirements of vehicles. We pass this saving on to you, making our fully maintained contracts particularly good value for money. Accounting A Contract Hire transaction is classed as an 'operating lease' for accounting and tax purposes. Vehicles financed in this way do not appear on your balance sheet, thereby improving key ratios.

Tax & VAT
The following may be integrated into Contract Hire in a manner to suit your exact requirements:

*Tax aspects - Operating Lease rentals are an allowable expense for tax purposes subject to a proportional disallowance for expensive cars.
*VAT - VAT will be chargeable on rentals and will be fully recoverable where there is no private usage of the vehicle. Where there is any private usage only 50% of the VAT on the finance element will be recoverable, but VAT on the remaining service elements is normally 100% recoverable. If the vehicle is a 'commercial vehicle', all VAT is normally recoverable irrespective of private use.

How Contract Hire without Maintenance Works

Fixed Rental Payments

Accurate vehicle and financial planning enables you to spread the cost of your vehicles, improving cashflow for your business. You will be responsible for all service and repair costs which must be carried out to the manufacturer’s recommended intervals. Financial Aspects

*A Contract Hire Agreement is classed as an 'operating lease' for accounting and tax purposes. Vehicles financed in this way do not appear on your balance sheet, thereby improving key ratios.
*Tax aspects - Operating Lease rentals are an allowable expense for tax purposes subject to a proportional disallowance for expensive cars.Tax aspects - Operating Lease rentals are an allowable expense for tax purposes subject to a proportional disallowance for expensive cars.
*VAT - VAT will be chargeable on rentals and will be fully recoverable where there is no private usage of the vehicle. Where there is any private usage only 50% of the VAT on the finance element will be recoverable but VAT on the remaining service elements is normally 100% recoverable. If the vehicle is a 'commercial vehicle', all VAT is normally recoverable irrespective of private use.