At St James Motor Company we provide many different finance packages to suit all our customers’ needs, both private and business.

We are regulated by the F.S.A. (Financial Services Authority) and the Office of Fair Trading to give our customers peace of mind.

Also a distinct advantage of securing finance through us is that the car you purchase can be made available far more swiftly than through a third party.

Many personal loans can take up to 2 weeks from the date of first application through to physically having the funds available to spend, with ourselves this period can be as short as one hour, we have had many instances of customers viewing a car, arranging finance via ourselves and taking delivery of their new car all in one day.

Furthermore, by taking out finance secured on the vehicle itself means that, should an unexpected event arise where you need to borrow some money quickly you will have more funds available on an unsecured loan basis.

For your convenience we have listed some of the funding options that are available together with the advantages and disadvantages of each system:

This is the most popular and traditional form of vehicle finance.

The process is very simple, you pay a deposit and the balance is repaid in a series of fixed monthly payments over an agreed period of time varying from 12 to 60 months.

At the end of this you own the car outright.

Should you want to repay the amount outstanding earlier, a simple phone call to the finance company will give you a settlement figure which will generally be less than the total of the remaining payments.

This form of vehicle financing offers customers the benefit of being able to afford a vehicle that they wouldn't ordinarily be able to afford as the monthly repayments can be lower than other forms of finance. This is essentially due to the fact that the agreement includes a large final payment known as a Guaranteed Future Value.

There are a number of options available with the GFV:
1. You can pay the final amount and keep the car.
2. You can return the car to the finance company and not pay the amount, and therefore not own the car, however mileage and condition restrictions must be met.
3. Finally you can trade in the vehicle and use the equity that should remain in the car as a deposit for purchasing another vehicle.

Repayment periods can be from 12 to 36 months. It should be noted that with this type of financing requires a maximum deposit of 40% and is only available for vehicles up to 40 months old.

This form of vehicle financing is similar to a Personal Contract Purchase in the respect that payments can be kept to a smaller level than hire purchase because a larger final payment is involved.

The main difference here is that the final payment must be made, there is no option to return the vehicle.

This means that a higher residual value can be offered which can reduce monthly payments. Agreements can also last for up to 4 years.

This is an extremely popular option with many self employed/small business owner.

This financing takes the form of regular payments with the car being returned at the end of an agreement. Normally the deposit is in the form of 3 monthly payments in advance. Many offers are typically quoted in a 3 + 36 months format. These payments are all subject to VAT and customers must be VAT registered for there to be any advantage.

With the additional option of incorporating a maintenance plan, all vehicle ownership costs are known

This is advantageous for business owners as there are many tax benefits. Generally half the VAT costs can be reclaimed.(Please consult your accountant for details for your own personal situation in order to determine the amounts that you could reclaim)