MHC Finance

We offer and compete mainly with dealership supplied finance, and provide an independent and impartial advice service, to tailor a package to your exact requirements for your car purchase.

Finance is subject to status, and the application procedure is very quick and straight forward. The basic packages available are briefly outlined below, for specific vehicle quotes/further explanation of any of the below, please don't hesitate to contact us and we can assist you further.

We can assist in sourcing your next car, or can provide funding for a vehicle which you have already found for yourself

Generally the vehicle must be new/nearly new and supplied by a franchised dealer/bank approved dealership. The agreement allows a vehicle to be purchased with a low initial outlay, followed by monthly instalments over 24-48 months followed by a final balloon payment.

At the point of the balloon payment: The purchaser has the option to:
a) Hand the vehicle back into the lender with nothing further to pay.
b) Pay off the balloon and keep the car, either in full / refinance the existing amount.
c) Part Exchange the vehicle in for a new car, and anything gained above the balloon can be used as a deposit towards the new financial agreement.

Points that apply: There is mileage restrictions applicable per annum, and are charged over and beyond if option a) is opted for and the vehicle is handed back. The monthlies do not attract VAT. The balloons are generally calculated relatively prudently compared to anticipated market values, as the lender will have to absorb the cost if the vehicle is not worth as much as the balloon, and the purchaser hands the car back in.

Similar to PCP’s however the balloons at the end of the agreement are not guaranteed, meaning that the balloons can be inflated to near market value as calculated by CAP and Glass’s guide in order to reduce the purchaser’s monthly instalments down further.

The Balloon payments at the end of the agreements are calculated around the basis of what the car will be worth at the end of the agreement term. There are options to pay out of the agreement earlier, and a settlement figure at any time can be obtained for this purpose from the lender, however early exit penalties may be chargeable in this instance.

Identical to Lease purchase and PCP’s above, in terms of low-zero deposit, fixed monthly instalments, with an optional end balloon, which can be calculated all the way up to 100% predicted CAP values for the particular vehicle at the end of the financial terms. Adjusted to suit monthly instalments etc. Variable lease purchases, have no front loaded interest, and the interest is calculated to the day, on a decreasing line basis, this form of finance suits individuals who change cars frequently, as the agreements attract no early termination fee at all.

More details/examples available on request. All agreements can be taken on new/used vehicles, but the car can’t exceed 7-8 years old at the end of the agreement terms. Cars are generally sourced from Trade/Dealer suppliers, and we can assist in this sourcing process, or we can provide funding for a vehicle that you may have found. We also look to finance vehicles purchased from a private source, subject to HPI clearance and various other conditions and checks we put into place to protect our customers.

We offer a total car buying solution, and we look after many private individuals/companies across the UK. All our finance is provided under our credit consumer license, and we only work with large blue chip lenders. We offer competitive APR rates which are constantly reviewed and compared across the market place.