Used Car Finance Options
IN SELBY, NORTH YORKSHIRE
At Reynolds of Selby in North Yorkshire, we offer flexible and transparent car finance solutions to make buying your next vehicle as convenient and affordable as possible. As a trusted, family-owned garage, we work with a carefully selected group of finance providers to give our customers competitive and tailored finance packages that suit a variety of budgets and credit profiles. Our experienced team is here to guide you through every step of the finance process, ensuring you understand your options and receive a finance package that fits your needs.
Transparent and Customer-Centric Finance Solutions
Our finance options are designed with your best interests in mind, and we believe in full transparency throughout the process. We work closely with a limited number of reputable lenders, who may provide us with a commission based on a percentage of the amount you borrow. The commission structure varies depending on the lender, and they may also offer financial support for training and marketing. However, rest assured that any commission or support from these lenders does not affect the amount you pay under your finance agreement – all terms are set solely by the lender, ensuring complete transparency and fairness.
Benefits of Choosing Reynolds of Selby for Car Finance
When you choose Reynolds of Selby for car finance, you’re choosing a garage that values honesty, transparency, and customer satisfaction. Our finance options offer several key benefits:
- Tailored Finance Packages: We offer a range of finance solutions to suit different budgets, credit profiles, and preferences, making car ownership accessible to all.
- Competitive Rates: With our select group of finance providers, we secure competitive rates, ensuring you get excellent value on your finance plan.
- Clear and Transparent Terms: All finance terms are set by the lender, providing full transparency on payments, interest rates, and overall costs.
- Experienced Finance Team: Our knowledgeable finance team guides you through each stage of the process, answering your questions and explaining each option clearly.
- Family-Owned, Customer-Focused Service: As a family-run business, we prioritise your satisfaction, delivering a finance process that’s straightforward, honest, and supportive.
Our Car Finance Options
At Reynolds of Selby, we offer flexible car finance options that allow you to spread the cost of your purchase and enjoy manageable monthly payments. Whether you’re looking to buy a used car, upgrade your current vehicle, or part exchange, our finance packages provide a convenient way to make your purchase more affordable.
- Hire Purchase (HP)
With Hire Purchase, you pay an initial deposit followed by monthly instalments over an agreed term. Once all payments are completed, you’ll own the car outright. HP is a straightforward and popular finance option, with fixed monthly payments and a clear path to ownership. - Personal Contract Purchase (PCP)
PCP finance allows for lower monthly payments and offers flexibility at the end of the term. After the final payment, you can choose to keep the car by paying a balloon payment, part-exchange it for another vehicle, or return it. This option is ideal if you enjoy upgrading vehicles regularly or prefer a lower monthly payment. - Part-Exchange Financing
We also offer part-exchange options, allowing you to trade in your current vehicle to offset the cost of your new one. This reduces the amount you finance and provides an easy, cost-effective transition to a new car.
Understanding Finance Commission and Lender Relationships
At Reynolds of Selby, we believe in being fully transparent about our relationships with finance providers. As part of our service, we work with a limited number of lenders, who may pay us a commission calculated as a percentage of the loan amount. This commission varies among providers and may also include support for training or marketing, helping us improve our customer service. Importantly, any commission we receive does not affect the total amount you pay under your finance agreement – all terms are set by the lender to ensure transparency and fairness.
Why Choose Reynolds of Selby for Your Car Finance Needs?
- Trustworthy, Transparent Service: As a reputable, family-owned business, we pride ourselves on honest and clear service, ensuring you fully understand your finance options.
- Flexible Payment Plans: With various finance packages tailored to different needs, we make car ownership accessible to all budgets.
- Competitive and Fair Finance Solutions: Working with a select group of providers, we offer finance options that provide excellent value and align with your budget.
- Experienced Finance Experts: Our finance team is knowledgeable, friendly, and always ready to help you choose the best option for your circumstances.
- Convenient Location in Selby, North Yorkshire: Centrally located in North Yorkshire, we serve customers throughout the region with accessible, trusted car finance options.
Trusted Car Finance in Selby, North Yorkshire
Reynolds of Selby is committed to providing reliable and transparent car finance solutions that put you in control of your car purchase. Whether you’re buying a used car, looking to upgrade, or interested in part-exchange, our finance team is here to help you secure the right finance package to meet your needs. Book an appointment with Reynolds of Selby today and discover the benefits of car finance with a trusted, customer-focused garage in North Yorkshire.
Hire Purchase (HP)
A simple way of financing that gives you the certainty of a fixed interest rate, and fixed monthly payments throughout the agreement. The initial deposit and repayment period can be structured to help meet your budget and the length of time you expect to keep the car. You can trade-in your existing car and put this towards the initial deposit, or if you wish, just put down a cash deposit.
After paying the initial deposit you make regular monthly payments to cover the amount borrowed plus any interest and fees
The interest rate is fixed which means you'll know exactly how much you will repay throughout the term of the agreement
Once all of the payments have been paid the car is yours
Features and Benefits
- Fixed monthly repayments
- Low Deposit
- Ownership of Car
- Budget with confidence
- Freedom, no mileage restrictions
- Ability to settle the loan early
Personal Contract Purchase (PCP)
Similar to a Hire Purchase agreement but with additional flexibility since part of the cost is deferred until the end of the agreement which may give you the benefit of lower monthly payments. The deferred amount is known as the Guaranteed Future Value (GFV) sometimes known as Optional Final Payment.
What happens next?
At the end of your PCP agreement, you then have a number of options.
- Option 1 - Part-exchange your vehicle-use any equity above the Guaranteed Minimum Future Value as an initial deposit on your next purchase.
- Option 2 - Keep your vehicle-simply pay the Guaranteed Minimum Future Value to retain ownership.
- Option 3 - Refinance the final balloon payment.
- Option 4 - Return your vehicle and have nothing further to pay, subject to vehicle condition and within the agreed mileage terms. (Subject to terms and conditions).
Features and Benefits
- Flexible deposit
- Low fixed monthly payments
- The choice at the end of the agreement
- No need to worry about depreciation
- Potential lower payments than a standard HP agreement or Conditional Sale