Motor Finance
Search Elton Finance

To find out more about our Motor Vehicle Finance options, click here to get in touch.

Vehicle Finance

Looking for Vehicle Finance? - Just Ask Elton

Elton Finance accept Finance applications directly from customers and businesses. We also work with motor dealers/retailers on behalf of customers, provided they hold the required FCA approval.

Funding can be sourced for Cars, Vans, 4x4's, Motorcycles, Commercial Vehicles, Motorhomes and Caravans.

Sourcing a range of funding options which include:

Hire Purchase

A Hire Purchase (HP) agreement is one of the most common ways of funding a vehicle purchase. It is normally a fixed cost, fixed period loan of money secured to the purchase of a vehicle. The lender will retain ownership of the vehicle/goods until the end of the agreement. Once an option to purchase fee has been paid, title of the goods would transfer to the customer.

Personal Lease/PCP

A Personal lease option offers customers the opportunity to benefit from a company car style experience, but without the cost of a taxable benefit. Customers make fixed monthly payments and could include routine servicing, maintenance, annual road fund licence (road tax), tyre replacement and roadside assistance. This option can be good for people who have chosen to take a car allowance, or if you are not eligible for a company car.

Personal Loans

A personal loan is normally a fixed cost, fixed period loan of money to purchase any item the customer wants – including vehicles. There is no upfront deposit to pay as the full balance is financed. The customer buys the vehicle directly from the dealership using the loan amount borrowed and the customer immediately takes ownership of the vehicle. Customers make regular payments to the lender until the amount borrowed plus interest is repaid in full, and there are no mileage or usage restrictions on the vehicle and no deposit to pay upfront.

Contract Hire

Contract Hire is available to any type of customer – whether business or private – but, because of its structure and form, it is ideally suited for VAT registered businesses.  Contract Hire is a method of funding the use of a vehicle for a set period of time but not the ownership of it.

Lease Purchase

Lease Purchase is similar to a Hire Purchase agreement except that payments are structured like a lease agreement where the customer pays advance payments rather than a deposit. A balloon payment can also be incorporated into an agreement, which represents the future residual value of the vehicle.

Finance Lease

Finance Lease is a form of flexible leasing to fund the use, but not the ownership, of a vehicle and is ideally suited for VAT registered businesses.  The leasing company hires the vehicle to the customer for an agreed period of time for an agreed monthly sum.