Car Finance from Riverside Motor Group

We offer a dedicated service to meet the requirements of both individuals and business partners alike, no matter how large or small we aim to help you select the most suitable funding package, and then tailor that package to suit your needs. We also offer maintenance plans for your new vehicle as well as payment protection plans to cover those unfortunate experiences, insurance plans should be considered on all purchases. We also offer insurance such as GAP which will return you to the invoice price should your vehicle be stolen or written off.

Hire purchase is the most common and frequently used funding method, and is very easy to understand.

• Pay your agreed deposit
• Choose your agreed term between 18 - 60 months, and repay the balance over this period, which will be a fixed payment at the contract start
• At the end of the contract subject to all payments having been made, including the final (option to purchase fee) the vehicle is then yours to keep, sell, or trade-in for a new one

Hire Purchase Risks

• You do not own the vehicle outright until the final payment is made
• You must maintain fully comprehensive insurance throughout the term of the agreement
• Any outstanding finance must be settled if the goods are sold
• You must not sublease or rent the vehicle to a third party

Riverside Personal Contract Plan (PCP)

Selections are a flexible way of financing your car, it gives you flexibility in the way of:

• The deposit you pay
• The length of the agreement
• The Mileage you will travel
• The Selections open to you at the contract end

PCP is flexible because it can be tailored to meet your requirements and circumstances, and initial deposits can vary from the equivalent of one monthly payment. A choice can be made about the length of the agreement, any month between 18 - 60 months can be chosen and the contract mileage is up to 25,000 miles per annum or 80,000 miles throughout the entire agreement.

The key to selections is to match the monthly payment to your motoring budget, this is achieved by setting aside a final payment, which is a proportion of the car's present value at the start of the contract and which becomes payable at the end of the contract.

You then have three options at the end of the agreement

• All or part of the difference if any between the final payment and your vehicle trade-in value can be used towards the deposit on your next vehicle
• The Final payment (Including the option to purchase fee) can be paid and you can simply keep the car
• You can decide to hand the car back to your Dealer / Finance provider and providing all the obligations of your agreement have been met you will have nothing else to pay

PCP Risks

• You do not own the vehicle outright until the final payment is made
• You must not sublease or rent the vehicle to a third party
• Any outstanding finance must be settled if the goods are sold
• Excess Mileage charges apply
• The Vehicle resale value may not be worth more than the final payment, meaning that your deposit may be reduced for your next vehicle. Therefore, you should be prepared for higher repayment

Riverside Contract Hire

Contract hire is frequently the first choice for business. It provides the use of a vehicle at a fixed monthly cost that can even include full servicing and maintenance costs, tires and road fund renewal. This delivers a regular motoring cost for budgeting purposes, contract hire also enables a flexible method of off-balance sheet funding. Current UK tax legislation also helps to keep contract hire prices lower. Businesses may be able to reclaim up to 50% of the VAT payable on the monthly rentals for registered business users with a proportion of private vehicle usage. Additionally, the full VAT on the service/maintenance element (if taken) may be recoverable in full.

Contract hire additional options.

• Servicing costs
• Maintenance costs
• Tyre replacement (normal wear and tear only)
• A replacement vehicle following an accident or breakdown or during services

Contract hire is available on 18 to 60-month terms. The level of the monthly payment is calculated on the:

• The vehicle value
• The initial rental
• The length of the rental period (18 - 60 months)
• The agreed annual mileage
• The exact package to suit your needs

After the agreed period you return the vehicle and there is nothing more to pay as long as all the payments are met and all terms and conditions of the contract have been met. Taxation, legislation and accounting practise are subject to change and current business allowances can be changed at any time, for specific guidelines you should contact your financial advisor in these regards.