At Junction 17 Cars in Peterborough, our priority is to make sure that we are the most competitive prestigious retailer in the U.K. By monitoring the car finance marketplace daily we can pass on our incredible savings to all our customers. Taking out a car finance agreement is a popular way to make your purchase more affordable.
No matter what your current or previous financial situation may be; our sales advisers will be happy to help you towards purchasing a vehicle on finance. As we deal with car finance companies on an everyday basis, we know exactly where to place an application for a successful result and great finance deal. We work firmly towards your personal finance budget and often will help you save money on financing your car.
Junction 17 acts as a finance broker. Our in-house car finance team have excellent relationships with a select panel of specialist lenders, so we can offer the best bespoke car finance package for you on all types of cars we sell.
We are proud to announce that we are a SAF approved retailer. SAF (Specialist Approved Dealership) was introduced by the Finance and Leasing Association in 2007, with the aim to improve expertises and professionalism for all retailers and dealerships across the board, and increase consumer confidence in car finance.
In order to qualify as a SAF approved retailer, the test assesses the retailers staff knowledge in regards to everything car finance. Those that pass the test are then qualified and up to date on the latest car finance options their retailer or dealership offers. They're also knowledgeable in how car finance options can be best tailored made to meet customers specific car-buying needs, ensuring each and every customer gets the best deal available to them.
FIND A CAR, ENQUIRE AND SWAP IT WITH JUNCTION 17 CARS
Junction 17 Cars offers a unique car finance service; payment switch. This allows customers to upgrade their current car, to a newer model for the same amount that they're currently spending - with no cash deposit. We have over 22 cars for you to choose from.
Drive away in a prestige used car, designed around your lifestyle and circumstances, whether that's something bigger, faster, or just something for the weekend - we've got you covered.
We realise buying a car is an expensive process, so we like to help out where we can. That's why we're offering 0% car deposit finance.
Isn't it nice when things don't cost any extra?
At Junction 17Cars, car finance is our speciality, we know exactly which lenders will deliver you the best possible car finance deal based on the car you're buying.
Along with competitive rates, we can offer you a quick finance decision so you can be driving home in your new car within the hour.
To find out more about our finance options, please fill in your details below or speak to us on live chat.
Personal Contract Purchase (PCP) is a finance product that allows you the opportunity to buy a new or a used car.
It is similar to a Hire Purchase agreement as you will usually pay an initial deposit, followed by monthly instalments over a term typically between 18 to 48 months.
What makes PCP different to Hire Purchase (HP) is that your monthly instalments are paying off the depreciation of the car, and not its entire value, over the course of the term. Then, when you get to the end of your agreement, there is a final, balloon payment that must be made if you want to keep the car. The balloon payment is often referred to also as the Guaranteed Future Value (GFV).
When you have chosen your vehicle, you will then agree your annual mileage and decide on your finance 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 finance 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.
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.