So what's the difference?
Shebourne Nissan Preferences, our Personal Contract Purchase (PCP) product, is a flexible way to finance your new car.
Here's how it works:
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We'll guarantee what the value of your car will be at the end of the agreement, known as the Optional Final Payment. Your dealer will calculate the Optional Final Payment at the beginning of your agreement. |
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The amount you pay is calculated as follows - the price of your new Nissan, minus your deposit and Optional Final Payment, plus any interest and fees. This makes driving your new car even more affordable. |
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Lower fixed monthly payments will help you stick to your monthly budget or could even mean that you are able to upgrade to a higher specification car. |
At the end of your agreement, you're free to choose from one of the following options:
Preference 1 – Change you car for a new Nissan
Part-exchange your car at any authorised dealership where your dealer will value your car. If your car is worth more than the Optional Final Payment, you can use the difference as a deposit for your next new Nissan.
Preference 2 – Keep the car
You may prefer to keep the car. To do this, simply pay the Optional Final Payment as outlined in your agreement. Shelbourne Nissan Finance can even help you finance this value if needed.
Preference 3 – Give the car back
If you want you can simply hand the car back to Shelbourne Nissan Finance with nothing more to pay (subject to mileage and condition). Excess mileage charge applies.
Hire Purchase
Hire Purchase is the traditional way to finance your car. Simply choose the deposit amount you wish to pay and the length of the repayment period.
Here's how it works:
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During the repayment period, the amount you borrow plus the interest are repaid by fixed monthly payments. The interest charged is calculated at the beginning and is fixed for the length of the agreement. |
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The interest charged will remain unaffected by any future changes in interest rates, allowing you to plan your budget with confidence. |
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At the end of the agreement, subject to payment of a nominal Option to Purchase fee, you take outright ownership of the car. |
And that's it. Wasn't too painful, was it?
Take away guide including comparison of the two retail finance options, Nissan_Finance_Retail_Brochure
