Our Prestige, Supercar and Business Finance Broker -Matthew Martin was able to finance the brand new EV Mercedes-Benz EQS for his client under a Hire Purchase (HP) arrangement with an additional balloon.
Matt was able to work alongside the team at Haydock Finance Ltd from our comprehensive 80+ lending panel to find the best finance options and offer a personalised package for his client, which included a £12,660.00 deposit, followed by monthly payments of £1,511.84 from an overall purchase price of £116,160.00.
The structure of HP consists of a deposit, with monthly payments making up the remaining finance amount. The benefit of this product is that it allows you to have full control over the agreement
as you can decide the deposit amount and the repayment
term. HP also enables you to own the car at the end of the agreement. An optional balloon payment can be added to the end of the agreement, which will cut the monthly payment costs if needed. Then further finance options can be available once the balloon payment is due including refinance.
Do you currently have a vehicle that you are thinking of refinancing? It is important to remember that the figures presented were specific to the actual client and each person's situation is different but here at Approved, we are dedicated to finding you the best possible finance option. If you feel that Refinance is a viable option for your current situation then please do not hesitate to get in contact to discuss your finance options with our specialist motor finance broker Matthew Martin on 01908 429888 or email him at Matt@approved-finance.co.uk.