Black Horse Personal Contract Purchase

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With Black Horse Personal Contract Purchase you can keep your monthly payments lower by deferring a significant proportion of the amount of credit to the final payment at the end of the agreement.

Agree an initial deposit and how long you want the agreement to run for and the dealer will then calculate the Guaranteed Future Value (GFV) of your caravan and confirm your monthly payment. The dealer will submit the finance application to us and subject to your application being approved; you can just tow your caravan away.

Then at the end of the agreement you have 3 options:

  1. Part exchange the caravan subject to settlement of your existing finance agreement; new finance agreements are subject to status.
  2. Return the caravan and not pay the Final Lump Sum Payment. If the caravan is in good condition you will have nothing further to pay.
  3. Pay the Final Lump Sum Payment to own the caravan.

And you have 2 to 5 years to decide which option to choose.

How it works

  • Choose your new caravan with your Black Horse dealer.
  • Choose to repay over one to five years.
  • Negotiate your deposit with the dealer.
  • Borrow any amount between £1,500 - £250,000.
  • Set payments to suit your budget.
  • At the end of the agreement you have three options to choose from.

What you pay

  • You pay a flexible deposit on the caravan Your dealer obtains the Guaranteed Future Value of the caravan from Black Horse*
  • You pay equal monthly payments over the chosen period.
  • At the end of the agreement, you have three final options.

Three final options.

  1. Part exchange the caravan subject to settlement of your existing finance agreement; new finance agreements are subject to status.
  2. Return the caravan and not pay the Final Lump Sum Payment. If the caravan is in good condition you will have nothing further to pay.
  3. Pay the Final Lump Sum Payment to own the caravan.

What you need to know about Personal Contract Purchase with Black Horse?

  • Flexibility - Set payment periods from two to five years, then take the best option for you when you reach the end of the agreement.
  • Protection under the Consumer Credit Act Termination and Satisfactory Quality Rights.
  • Protection against depreciation as a result of an unexpected fall in the value of the caravan when you exercise the ‘Goods Return’ option (when you hand the vehicle back).
  • Ideal if:
    • you like to own the newest model
    • you like to keep your options open or you
    • like to budget
  • You must have fully comprehensive insurance.
  • Your caravan is at risk of repossession if you do not maintain contractual repayments.
  • You do not own the caravan until the final payment including interest has been made.
  • A significant proportion of the credit is deferred until the end of the agreement you should prepare for this if you want to own the caravan.
  • Lower payments means you might be able to afford a new caravan.
  • Newer model means lower maintenance costs.

Why choose Personal Contract Purchase?

Personal Contract Purchase is a type of hire purchase agreement that lets you keep your options open. You don’t need to decide now - if your circumstances change over the years you’ve got options.

How can I find out more?

Telephone 01255-830-229 or pop into our sales office for a chat – open 7 days a week.

*Finance is subject to status and is only available to UK residents aged 18 and over. Finance provided by Black Horse Limited, St William House, Tresillian Terrace, Cardiff CF10 5BH. Please contact your local Black Horse dealer for further details.

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