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Do you have your eye on a particular car or motorcycle? If so, allow us to help you secure it.
At our Norfolk, Suffolk and Essex showrooms, we strive to make financing for a car or bike as seamless and hassle-free as possible.
As well as brand new and Approved Used Hyundai and Honda cars, we stock new and used Triumph, Honda, Husqvarna and GasGas bikes, each of which is available with flexible financing.
Once you’ve identified your desired vehicle on our website, you’ll easily be able to find the corresponding finance options. Indeed, you can apply for finance online with Lings anytime you like. But before you do, be sure to read and understand our terms and conditions fully and don’t forget that application will likely result in a hard credit check.
If there’s anything that doesn’t make sense or if certain details require clarification, we’re here to help, so please don’t hesitate to contact your local Lings showroom team. We’ve got your back and we’ll guide you every step of the way.
Once you’ve submitted your application, we’ll soon be in touch to confirm your next steps.
Here at Lings, we offer Personal Contract Purchase and Hire Purchase financing, each of which has its pros and cons. Please read on to learn about what each has to offer before deciding which is the best solution for you. Of course, if you have any questions or require impartial advice, we’re here to help.
PCP is a very popular financing solution, partly because of the flexible end-of-agreement options it offers.
First of all, PCP allows you to choose a deposit which, typically, is at least 10% of the car’s price. Once you’ve selected an amount you’re happy with, you’ll then need to choose your monthly repayment figure. This will vary depending on the length of the agreement, which is usually two to five years. However, since repayment amounts are fixed in advance, you’ll always know how much you need to pay each month.
five years. However, since repayment amounts are fixed in advance, you’ll always know how much you need to pay each month.
With PCP, the lender guarantees your car’s minimum value at the end of the term, hence the balloon payment, otherwise known as guaranteed future value (GFV).
At the end of the agreement, you’ll be presented with the option to make the final balloon payment, at which point you can…
PCP is a good choice if you want to pay lower instalments per month than are typically available with Hire Purchase, and if you wish to have options at the end of the agreement. However, be aware that PCP comes with an annual mileage limit which, if exceeded, could mean you’ll need to pay extra.
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 or motorcycle 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 or motorcycle is worth more than the Guaranteed Future Value, which means you will have some positive equity to contribute towards your next vehicle.
Short for Annual Percentage Rate, APR is a crucial financial term used to represent the annual cost of borrowing funds from a financial institution or lender. It includes not only the interest rate charged on a loan but also any additional fees and costs associated with the borrowing. APR serves as a standardised way to compare and evaluate different loan offers, as it provides a comprehensive picture of the overall cost of credit over a one-year period. By considering the APR, borrowers can make informed decisions about which loan suits their financial situation best, ensuring transparency in the borrowing process.
Understanding your finance options when purchasing a new vehicle is of utmost importance. Making an informed decision about how to finance your vehicle is very important, ensuring that you can comfortably manage the monthly payments. At Lings, we recognise the significance of this step in the buying process, and we are committed to helping our customers navigate through their finance choices with clarity and confidence. Our knowledgeable team is here to guide you through various financing options, explaining the terms and conditions in a transparent manner. We strive to find the best financing solution tailored to your unique circumstances, making your buying experience at Lings smooth, convenient, and financially sound.
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 or motorcycle 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/motorcycle back or you have a second option. Through a PCP agreement, you can take full ownership of the vehicle by paying off the remaining Guaranteed Minimum Future Value also known as a balloon payment.
Short for Annual Percentage Rate, APR is a crucial financial term used to represent the annual cost of borrowing funds from a financial institution or lender. It includes not only the interest rate charged on a loan but also any additional fees and costs associated with the borrowing. APR serves as a standardised way to compare and evaluate different loan offers, as it provides a comprehensive picture of the overall cost of credit over a one-year period. By considering the APR, borrowers can make informed decisions about which loan suits their financial situation best, ensuring transparency in the borrowing process.
Understanding your finance options when purchasing a new vehicle is of utmost importance. Making an informed decision about how to finance your vehicle is very important, ensuring that you can comfortably manage the monthly payments. At Lings, we recognise the significance of this step in the buying process, and we are committed to helping our customers navigate through their finance choices with clarity and confidence. Our knowledgeable team is here to guide you through various financing options, explaining the terms and conditions in a transparent manner. We strive to find the best financing solution tailored to your unique circumstances, making your buying experience at Lings smooth, convenient, and financially sound.
