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How can I finance my Suzuki?

Personal Contract Purchase (PCP) is a popular Suzuki finance method. PCP car contracts allow customers to make smaller monthly payments throughout the contract period. At the end of this term, a final balloon payment, often referred to as the Guaranteed Future Value (GFV), is made if the customer wishes to keep the car. This value is determined at the beginning of the agreement based on the projected residual value of the car. The flexibility of Suzuki PCP deals is ideal for those who wish to drive a newer car model every few years.

Alternatively, Hire Purchase car contracts (HP) eliminate the need for a hefty final payment. Unlike the Suzuki PCP deals, HP involves higher monthly payments over a fixed period. However, once these payments are completed, vehicle ownership is transferred to the customer, making it an excellent choice for those who want to own a car outright without a large upfront cost.

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Frequently asked questions about Suzuki

What are the key differences between Suzuki PCP deals and HP options?

Personal Contract Purchase (PCP) and Hire Purchase (HP) are both forms of Suzuki finance but cater to different customer needs. PCP is often preferred by those who wish to drive a new car every few years without the burden of ownership. PCP offers lower monthly payments, but there is a significant final payment, known as the Guaranteed Future Value (GFV), at the end of the term if you choose to keep the car. This payment is calculated based on the projected residual value of the car at the start of the agreement.
On the other hand, HP is structured for individuals who aim for outright car ownership. Unlike PCP, HP involves higher monthly payments spread across a fixed term, but there’s no final payment. Once all the payments are made, ownership of the car is automatically transferred to you. It’s an excellent option if you prefer complete ownership without having to pay a large upfront cost.

Can I change my car during the Suzuki finance agreement term?

The possibility of changing your car during the term of your Suzuki finance agreement largely depends on the specifics of your agreement. Typically, if you wish to change your car before the end of your finance term, you would need to settle your outstanding finance balance. It’s crucial to understand that this might incur additional costs, depending on the current value of your car and the outstanding finance amount.

What happens if I exceed the agreed mileage in my Suzuki PCP deals?

If you exceed the agreed mileage in your Suzuki PCP agreement, you will likely incur an excess mileage charge. This charge is set at the start of your agreement and is typically calculated on a pence-per-mile basis. If you think your mileage might vary, it’s crucial to discuss this with the dealer at the beginning to avoid potential unexpected charges.

Can I buy the car outright at the beginning with Suzuki car finance?

Yes, the Hire Purchase (HP) option in Suzuki car finance essentially allows you to purchase the car outright. However, instead of paying the full amount upfront, the cost is divided into equal monthly payments over a set term. At the end of this term, once all payments are completed, the car becomes yours, with no further obligations.

Are there any fees at the end of the Suzuki PCP deal?

If you decide to return the car at the end of a PCP deal, you may have to pay additional charges if there is damage to the car beyond normal wear and tear, or if you exceeded the agreed mileage. The specifics of these charges will be outlined in your contract. It’s important to thoroughly inspect your car and fix any issues before returning it to avoid these fees.

Can I negotiate the terms of Suzuki car finance?

While many of the terms in a Suzuki car finance agreement are typically fixed, some elements may be negotiable. For example, you may be able to negotiate the deposit amount and possibly the interest rate. It’s always recommended to discuss these possibilities with your Suzuki dealership to ensure you’re getting the best possible deal for your circumstances.

What to consider when choosing a Suzuki

Finding the right car often depends on personal preferences, lifestyle needs, and budget constraints. With a wide range of Suzuki models to choose from, each offering unique features, performance characteristics, and Suzuki car finance options, potential buyers have a lot to consider. Whether you need a compact city car like the Suzuki Swift or a more rugged, versatile vehicle like the Suzuki Vitara, consider how each model aligns with your requirements.

The affordability of the Suzuki PCP deals or HP agreements also plays a vital role in choosing the right Suzuki model. For instance, a model like the Suzuki Ignis might offer a more affordable Suzuki finance plan than a more premium model like the Suzuki S-Cross. Discussing these details with your Suzuki dealer to understand the implications of each Suzuki car finance option on your budget over time is essential.