Suzuki Car Finance

What is PCP?

Firstly, we’ll agree a future value for your car, based on how much you drive. Then you’ll pay a flexible deposit followed by fixed monthly payments and the end of your contract you’ll have three options:

1. Trade the car in and choose a new one.
2. Keep the car and just pay off the rest.
3. Give the car back.

Hire Purchase

Pay a fixed deposit, depending on the price of the car you want. The rest is split into monthly payments over two to five years. At the end of your contract make your final payment and the car’s all yours.

What Is Gap Insurance?

If your vehicle is written off or stolen before you finish paying the finance on it, your car insurance pay-out may not be enough to repay what you still owe and replace your vehicle with one of equivalent value. Guaranteed Asset Protection (GAP) is designed to cover this financial gap.

Why Do I Need It?

On average, new cars lose approximately 60% of their value after just three years. It’s this depreciation that makes it unlikely that a payout from your insurer will be as much as you paid for the car.

And, if you have a finance deal on your car, you risk having to repay more than the amount the car has been valued at by your insurer if:

1. The deposit for your finance deal was small
2. You’re paying the balance off slowly
3. Your finance arrangement will leave you with a lump sum to pay at the end – a 'balloon payment'

Without GAP Insurance, you might not be able to afford to replace your car. What’s more, you could still owe money for a car that you no longer have.