Range Rover P400 Autobiography 2023
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£108,959.00
14/06/2024
Regulated Hire Purchase
Business Development Director
London
With an ever-growing family this returning Fast Car Finance client was looking to upgrade one of the family’s cars. He had been looking for a while, as he specifically wanted a used Range Rover with executive seats.
When the right car came along, it was all systems go and the team jumped into action!
As part of the transaction the client was part exchanging his current Volvo and the new finance agreement was in direct replacement of his current monthly commitment. Luckily both agreements were with the same finance company, which made this type of transaction much easier.
Once approval was obtained for a Hire Purchase Agreement with a balloon; otherwise known as Lease Purchase Agreement, finance paperwork was raised. As the client had a new born baby, we arranged to meet them face to face to sign the documents, which helped them out at such a busy time.
The balloon payment due at the end of the agreement is not a guaranteed future value and the responsibility for payment lies with the client. If you get to the end of your agreement there are a number of options. You can either pay the balloon in full from the sale of the car or other cash reserves, or you could look at refinancing all or part of the balloon payment ( subject to underwriting )
If you have financed a car with us or via another company and your balloon payment is due, do speak to us to discuss your options.
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