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Finance

GCS Car Sales Ltd is authorised by the Financial Conduct Authority, At GCS, our Sales team is highly trained to provide you with the best finance deal to suit your budget. We specialise in providing tailored deals for our clients. We have access to a wide board of lenders and brokers which consists of many prime and subprime lenders who are the best in the finance industry.

 

We offer two types of Finance Agreements: 

 

PCP

 

What is PCP?

Personal Contract Purchase (PCP) is a variation of a Hire Purchase agreement. The key difference is that the value of the car at the end of the contract is calculated at the start of the agreement and this value is deferred. This deferred sum is usually referred to as the Guaranteed Minimum Future Value (GMFV) and is based on a number of factors including how old the car will be at the end of the agreement and how many miles it is expected to have covered. The future value of the car is guaranteed by the lender so will not fluctuate. Deferring the GMFV to the end of the agreement in this way means that your regular monthly payments are lower than those on a comparable HP agreement over the same term.

A PCP agreement also gives you the flexibility to decide whether you would like to own the car outright at the end of the agreement by paying the deferred value (GMFV), or returning the car to the lender and entering into a new car finance agreement.

 

HP 

                                                                            

What is HP?

Hire Purchase is exactly what it sounds like a hire agreement which gives you an option to own the car at the end of the agreement. These are normally fixed cost, meaning that the interest rate is set before the contract begins. The loan period is also fixed typically three to five years and the finance agreement is secured against the car being bought, which means that lenders can be flexible in the terms and conditions they offer.

You are the ‘registered keeper’ of the car and responsible for insuring and maintaining it, but the finance company remains the legal owner until the amount you borrowed has been fully repaid.

 

 

We Also Offer £ 0.00 Deposit on our Finance agreements, This is subject to your credit profile.

 

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Bad Credit? Not a problem!

If you suffer from having a bad credit profile, contact our sales team who are more then happy to help and see what we can do for you.