Volkswagen finance made simple
We have lots of great videos to help you understand finance and what to expect when you are considering purchasing a new car
Solutions Personal Contract Plan Explained
A Solutions Personal Contract Plan or PCP is currently the most popular type of car finance agreement. Solutions PCP gives you the flexibility at the beginning and end of your agreement. Watch our video to find out more..
Hire Purchase Explained
HP or Hire Purchase agreements enable customers to purchase their vehicle, without a getting weighed down up front with the total cost of the car. Customers can break down the cost into a deposit and manageable monthly payments. At the end of the contract, the vehicle belongs to the customer.
Personal Contract Hire (PCH) Explained
Contract Hire is a straightforward hire agreement that does not offer customers the option to own the vehicle at the end of the contract period. A customer makes monthly fixed payments throughout the agreed term, and at the end of the contract the customer returns the vehicle (subject to terms and conditions regarding vehicle maintenance, servicing and mileage).
Representative APR Explained
APR stands for the Annual Percentage Rate. The Representative APR indicates the annual costs applied to your loan (including not just the rate of interest but also any fees). All lenders have to calculate the APR in the same way, making it a reliable way to compare the costs of different loans.
APR (Annual Percentage Rate) Explained
APR stands for Annual Percentage Rate and is a way of indicating the amount of interest you will have to pay over a year.
Optional Final Payment Explained
Some finance types give you a future value your car will be worth at the end of your finance agreement, this is called the optional final payment or guaranteed future value and it does just that. By giving you protection that your vehicle will be worth this amount as a minimum at the end of your finance term.
Finance Equity Explained
Equity is the value of your financial interest in a vehicle, calculated by subtracting the amount of the loan you have yet to pay off from the overall price of your car. If the actual value of your car exceeds the car’s guaranteed minimum future value, the extra money is equity that can be used as a deposit on your next car.
Early Settlement Explained
Early Settlement is the termination of a finance agreement by paying all monies outstanding before the lease end date. When settling early it is important to note you could be liable for additional interest charges
Comparing Finance Quotes
Not sure which is the best finance type for you when it comes to buying your next car? Our video will help explain what to look for so you can compare quotes accurately.