MotoNovo are one of the leading independent finance companies, who offer rates starting from just 5.9% APR! We provide detailed information and advice on the two finance products they provide which are: HP (Hire Purchase) & PCP (Personal Contract Purchase).
If you want a flexible finance plan for your car, then Hire Purchase (HP) could be the ideal plan. With no minimum or maximum deposit amount, and terms ranging from 12 to 60 months, you can choose the best payment plan to suit your budget. When you reach the end of your contract, you own the vehicle. Enjoy a one month payment holiday prior to your first instalment due date, and interest is only calculated from the day that your finance agreement begins.
If you like to keep your options open, a PCP finance agreement could be the perfect fit for you. A PCP agreement allows you to spread the cost of your new vehicle from three to four years. Personal Contract purchase contains a balloon payment at the end of the agreement. This can really help with reducing the monthly instalment cost. These monthly payments are typically lower than a traditional Hire Purchase (HP) agreement. If you like to change your vehicle frequently, this is ideal for you. If you’d prefer to keep the vehicle then once you’ve paid off the finance agreement and the final balloon payment, or Guaranteed Minimum Future Value (GMFV), you own the vehicle. Alternatively, you can use the vehicle as a part-exchange towards a new vehicle, refinance the balloon payment into a new Hire Purchase agreement, or simply return your vehicle. Whatever the case, our team is on hand to help you make the right decision. Subject to finance approval.
While browsing the used car section of our website, if you see a vehicle you like and click to view its description page, you will see a finance example for that vehicle, which you can adjust based on your budget and credit strength.
When you are happy with the figures on screen, you are now able to easily complete an online finance application for your new vehicle. Please complete this, in full. Once submitted, this application will go directly and securely to MotoNovo Finance.
Once received, MotoNovo will then underwrite your application based on the overall credit score of the deal and swiftly inform us of their final decision and the deal that is being offered to you. After this, we’ll get in touch to have a chat with you about this and organise a time that is convenient for you to finalise your vehicle purchase and answer any further questions.
Alternatively, we welcome your call or e-mail if you’d rather get in touch with us directly, at this point, so we can organise an on-site appointment and have a more detailed discussion. If you have a vehicle to part-exchange, we can provide a professional appraisal, and accurate valuation, at this point.
Whatever the case, you know that it’s your rate and your deal - decided by the finance company, rather than by us. We believe this is the fairest way to do business.
Thank you for choosing Foray Motor Group and MotoNovo Finance to purchase your next vehicle.
If you’d like any further information, please don’t hesitate to contact us – simply click here.