Maserati Finance and Insurance
When you are looking to purchase your car from H.R. Owen, we are able to offer you a wide range of choices when it comes to funding and as London’s premiere luxury car group we have access to a number of different finance houses which means that we can find the best finance package to suit you.
To enable a fast and simple delivery, most of our clients tend to use one of three options. By utilising this funding, it will also ensure any credit lines you currently have are kept intact for other future purchases.
Hire Purchase
This is the most straightforward option and simply means paying a deposit and then financing the balance, typically over two, three or four years. Hire Purchase is a popular option as you have fixed costs over a fixed period of time. The deposit can be in the form of cash, or equity in a part exchanged vehicle or a combination of the two. The agreement can be settled at any time, simply by paying the outstanding balance less any interest rebate.
Lease Purchase
Also popular, a lease purchase is very similar to Hire Purchase except a balloon payment is payable at the end of the agreement. This allows you to make reduced monthly payments during the term whilst still gaining ownership of the vehicle. As in Hire Purchase, the agreement can be settled at any time, simply by paying the outstanding balance less any interest rebate.
Personal Contract Purchase
This is a purchase agreement governed by vehicle mileage. A predicted minimum value of the vehicle is offset until the end of the agreement (a Guaranteed Miniumum Future Value/GMFV). This future value is set by the finance company and allows you to know the least a car will be worth at a point in the future. This GMFV allows a balloon payment to be included in the contract so that you will never be in negative equity when the end of the contract arrives. This allows an affordable, low-risk funding package with a great deal of flexibility.
Like Hire Purchase, the agreement can be settled at any time by paying the outstanding balance (less any interest rebate) and the GMFV. However it is more common to take one of the following three options at the end of the agreement:
Part exchange for another car – if the trade-in value is greater than the GMFV then this equity can be used as a deposit for another car or received as cash back. Alternatively you can sell the vehicle privately and keep any profit over and above the GMFV.
Pay the GMFV – and keep the car. You can even refinance the GMFV to avoid having to find a large cash amount.
Return the car and walk away – if you believe the car is worth less than the GMFV you can give the car back and the finance company absorbs any loss.
We also offer the following products to really take the worry out of car ownership:
Tyre Protection: the burden of potential tyre problems is removed by protecting against unforeseen punctures, malicious and accidental damage. The cost of the precision made tyres necessary for high performance cars can be significant, so its common sense to take out protection. This product has proved to be highly successful with our customers with a very high claim rate, therefore proving its' importance and significance to our model range.
G-3 Glasscoat: a world class treatment giving you five years of protection for the interior and exterior of your new car. It is in everyone's best interest that your car is maintained to the highest possible level and this product will assist in doing just that.
GAP Insurance: should you ever be in the unfortunate position whereby your vehicle is stolen or written off, Guaranteed Asset Protection bridges the gap between the insurance payout and the original purchase price. In the past year, the value of these claims has risen dramatically where insurance companies are restricting their payout amounts but by protecting your vehicle with GAP insurance, you can alleviate this risk.
Do call and ask to speak to our dedicated Business Manager to discuss any of these options in more detail.