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Reforma Commercial Sales are pleased to offer a range of competitive finance options to our customers. Through our credit broking partner we have access to a panel of over 30 lenders and we can arrange Hire Purchase or Personal Contract Purchase therefore we are able to tailor finance proposals to your personal or business requirements. We are on hand to support you at each step of the process, so please get in touch if you are considering buying your vehicle with finance.
Hire Purchase (HP)
HP is one of the most commonly used methods of financing vehicles. At the outset you will have option to pay a deposit followed by regular monthly payments, which can be arranged over terms from 12 to 60 months. The monthly payments and total cost of finance will be impacted by the size of the initial deposit and the length of the HP agreement you choose. Your lender will own the vehicle and you will be hiring it from them until you have paid for the vehicle in full with the loan being secured against the vehicle. Once all payments have been made you become the legal owner of the vehicle and throughout the term of the HP agreement you will have the option to settle outstanding finance.
Personal Contract Purchase (PCP)
A PCP is similar to HP insofar as you have the option to pay a deposit at the outset followed by regular monthly payments over terms from 12 to 60 months. However, under a PCP you have the option to hand back the vehicle at the end of the term or to pay a Guaranteed Minimum Future Value payment (known as the balloon payment) to obtain legal ownership of the vehicle. There will usually be a maximum annual mileage limit and if you exceed this annual limit the lender may charge for this.
FCA Status Disclosure
Inspire Venture Limited, trading as Adventure Van Rental and Reforma Commercial Sales, is authorised and regulated by the Financial Conduct Authority (FRN: 939359). We act as a credit broker not a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your purchase. We will only introduce you to these lenders. We may receive a commission payment from the finance provider if you decide to enter into an agreement with them. The nature of this commission is as follows: we receive a commission based on a percentage of the total amount of finance taken by the customer. You can request for us to disclose the amount of any commission received. You may be able to obtain finance for your purchase from other lenders and you are encouraged to seek alternative quotations. If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at financial-ombudsman.org.uk.