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What is Car Finance?

Car finance helps to spread the cost of a new or used Suzuki. Suzuki dealerships offer a range of finance products to suit individual preferences and circumstances, such as Hire Purchase, Personal Contract Purchase (PCP) and Personal Contract Hire (PCH)*. 

Each of these products works a little differently, but in general terms the finance company will buy the vehicle on your behalf and then you will repay the amount borrowed with interest (where applicable).

The choice is yours:

  • own the vehicle at the end of the agreement (except Personal Contract Hire) or;
  • drive a new model for a set term and hand it back at the end.** This is an option under Personal Contract Purchase (PCP) and is the only option available under Personal Contract Hire.

A Breakdown of our products

  Hire Purchase Personal Contract Purchase (PCP) Personal Contract Hire
Deposit Required Yes. Flexible. 0% may be available.  Yes. Flexible. 0% may be available.  Yes. 1 - 12 months initial rental.

Length of Agreement

From 1 -5 years From 2 - 4 years From 2 - 5 years
Fixed Payments Yes Yes Yes
Final lump sum repayment at agreement end N/A Yes N/A
Maximum permitted age of car at agreement end Typically 14 years Typically 7 years Typically 5 years
Ownership at agreement end  Yes Yes. If you pay the final lump sum payment. No ownership option available. You must arrange to return the vehicle.
Goods return option N/A Yes. Return conditions apply.  No ownership option available. You must arrange to return the vehicle.
Excess mileage charges  N/A Yes. If exercise goods return option and exceed mileage allowance.  Yes. If contracted mileage allowance exceeded.

Part exchange

NB. Subject to settling outstanding finance. New agreements subject to status.

Yes  Yes N/A

Voluntary termination rights

NB. Regulated agreements only

Yes   Yes   N/A
 

Fully comprehensive insurance required

Yes    Yes  Yes  
 

Ability to amend monthly payment due date

NB. Subject to loss of interest charge.

Yes. Once every 12 months.  Yes. Once over the lifetime of the agreement. Yes. Subject to conditions.

 

*Hire Purchase, PCP and Personal Contract Hire are subject to status and only available to UK residents aged 18 and over. Credit products are provided by Suzuki Finance, a trading style of Suzuki Financial Services Ltd, St William House, Tresillian Terrace, Cardiff CF10 5BH. Personal Contract Hire is provided by Lex Autolease Limited trading as Suzuki Contract Hire, Heathside Park, Heathside Park Road, Stockport SK3 0RB.

**Under our PCP product, you have the option at the end of the agreement to return the vehicle and not pay the deferred optional Final Payment. Providing the vehicle is in good condition and has not exceeded the maximum agreed mileage you will have nothing further to pay. If the vehicle has exceeded the maximum agreed mileage a charge for excess mileage will apply. Further information on what is considered good condition can be found at here.

What is Hire Purchase?

Want to own your Suzuki at the end of the agreement? With Hire Purchase, you agree an initial deposit with the dealer, the length of your agreement (1–5 years) and a monthly payment amount. Should your finance application be approved, it’s yours to drive away. And once all the installments have been paid, you own it.


Benefits include:

  • Flexible deposits typically from 5% of the On The Road price
  • Fixed interest rate over your chosen period (1-5 years)
  • Fixed monthly payments to suit your budget
  • Borrow any amount from £1,000 for new or used cars
  • Choose any new or used car as long as the car is less than 14 years old at the end of the agreement

What is Personal Contract Hire?

Looking for a fixed-cost, fixed-term rental agreement? With Personal Contract Hire you choose a new car, agree your maximum annual mileage and the length of your agreement. Then you pay an initial rental followed by fixed monthly rentals to suit your budget. At the end of your contract, you just hand back the keys.*

Benefits include:

  • Choose from advance rental of 1–12 months giving you flexibility to set your monthly rentals to suit your budget
  • Fixed monthly rentals over your chosen period (2–5 years)
  • Add vehicle maintenance** to your agreement to make sure your car stays in tip-top shape (a maintenance charge will be added to your monthly rental)

*At the end of the contract, you must return the vehicle and will have nothing further to pay provided the vehicle is in good condition and has not exceeded the agreed mileage. Contract Hire is subject to status, age 18 and over.  You will not own the vehicle.  Contract Hire provided by Suzuki Contract Hire, a trading style of Lex Autolease Limited, Heathside Park, Heathside Park Road, Stockport, SK3 0RB.

** Maintenance includes routine servicing, tyres, replacement parts and repairs due to fair wear and tear. Repairs or replacements from accidental/malicious damage and damage caused by driver misuse/abuse are excluded. The vehicle must be serviced in accordance with manufacturer’s guidelines and by an approved service dealer.

What is Personal Contract Purchase?

Looking to keep your options open? Personal Contract Purchase lets you to make low monthly payments by deferring a significant portion of the cost of the car to the end of the agreement. Should your finance application be approved, it’s yours to drive away. And when you get to the end of your agreement, you decide on the best option for you – pay the final lump sum, trade it in, or return it. Get a PCP quote from the finance calculator.

Benefits include:

  • Borrow any amount from £1,000
  • Guaranteed value for your car, as long as you stick to the mileage restrictions and keep the car in ‘Good Condition’ (CTA)
  • Choose any new or used car as long as the car is less than 7 years old at the end of the agreement
  • Fixed monthly payments to suit your budget
  • Set your annual mileage up to 24,000 miles a year
  • For used vehicles up to 3 years old, the maximum mileage at the start of the agreement is 3,000 miles per month of age or a maximum 60,000 miles
  • Available to limited companies on a non-regulated basis

How we calculate your PCP payments

Based on your initial deposit, your likely annual mileage, chosen model and the length of your agreement, we calculate our predicted value (also known as the guaranteed future value, GFV) of your car. The predicted value is usually equal to the final lump sum repayment, so if you want to keep the car at the end of the agreement, you know exactly how much you will pay for it.

At the end of your PCP agreement, you have three options:

Pay the final lump sum – pay the optional final payment (also known as the GFV) to own the car. The amount you pay for the car is agreed at the start of your finance contract so as long as you stick to the mileage restrictions and keep the car in good condition you know exactly how much it will cost you.

Trade it in – part exchange the car (subject to settling your existing finance agreement and arranging a new one).

Return it – don’t pay the final lump sum payment and return the car (subject to the Suzuki Good Condition Guide , you will have to make additional payments if the car is not in good condition for its age and mileage, or if the car has exceeded its allowed mileage).

View the Suzuki Good Condition Guide ›

 

Hire Purchase (HP)

Finance is available to UK residents aged 18 years or over, subject to status. Suzuki Finance is a trading style of Suzuki Financial Services Limited, part of Lloyds Banking Group, St William House, Tresillian Terrace, Cardiff, CF10 5BH.

Personal Contract Hire (PCH)

Personal Contract Hire is provided subject to status by Suzuki Personal Contract Hire, which is a trading style of Lex Autolease Limited. Registered office: 25 Gresham Street, London EC2V 7HN. Applicants must be over 18 and a UK resident. Ownership of the vehicle remains with Lex Autolease Limited and the vehicle must be handed back at the end of the term. Return and mileage conditions apply.

Personal Contract Purchase (PCP)

Credit is available to UK residents aged 18 years or over, subject to status. If finance is needed when making a part exchange, you will need to enter into a new agreement (subject to status). Under the goods return option, you will have to make additional payments if the car is not in good condition for its age and mileage, or if the car has exceeded its allowed mileage. Suzuki Finance is a trading style of Suzuki Financial Services Limited, part of Lloyds Banking Group, St William House, Tresillian Terrace, Cardiff, CF10 5BH.