Nissan Car Finance Options - Norton Way Nissan
Nissan finance

Nissan Finance

If you're thinking of buying a Nissan, we have a range of flexible and cost effective finance packages to meet your needs. Our friendly finance experts will make everything easy to understand and will work out a solution that fits with your individual financial circumstances and requirements.

What is Personal Contract Purchase (PCP)?

With PCP you can choose the perfect vehicle for you, as well a deposit and the length of the agreement. You can even decide upon the maximum mileage allowance. Once the finance agreement is over, you will then have the option to purchase the car outright for an agreed amount, which is known as the Guaranteed Minimum Future Value, or just GMFV. Or, if you don’t want to buy the car outright, you can always just return it to the lender (within agreed fair wear and tear limits) with absolutely no further obligation. You also have the option to put any positive equity you have on your old car and put it towards financing your next car.

Benefits of PCP

  • Drive a brand new Nissan more often
  • Flexible deposits
  • More flexible repayment options
  • Compared to a HP agreement with the same term, the repayment rate is usually lower
  • Fixed rates
  • Assurance of GMFV means you are protected against depreciation of used cars prices
  • Come the end of the agreement, you have the option to renew, return, or own the vehicle

Once the agreement is up, you can then choose from one of these three options:

Option 1 - Renew​

If you decide to renew, then you can drive away in a brand new Nissan. And, you can use any excess value over the GMFV as a deposit on your new vehicle.

Option 2 - Return​

So long as the vehicle is in a good condition and doesn’t exceed the agreed upon fair wear and tear limits and the agreed mileage, you have nothing more to pay and can simply return the vehicle.

Option 3 - Retain

You can also choose to retain your vehicle. Pay the GMFV and you own it outright!​


What is Hire Purchase (HP)?

Hire Purchase is the traditional package. Using this you can take the total cost of a vehicle of your choosing, deduct the deposit amount and choose the length of the agreement. Interest will then be added and the monthly installments will be calculated. Assuming you have met all of your payments, once the agreement has ended, the vehicle is yours outright.

Benefits of HP

  • Deposits are flexible
  • Flexible repayment terms from 12 to 60 months
  • Rates are fixed
  • Once the agreement is over, the vehicle is yours

What is Personal Contract Hire?

Personal Contract Hire, or PCH from Norton Way Nissan is a contract hire agreement which is suitable for renting selected Nissan's that are supplied by us. At no point will the vehicle belong to you with this agreement, so you won’t be able to go on to sell it. This agreement is mileage based and it is important that it reflects your predicted annual mileage.

With PCH from Norton Way Nissan you will end up paying an agreed number of advance rentals along with the VAT followed by remaining rentals plus VAT for the contract term. Then, the vehicle should be returned to the finance house.

The benefits of Personal Contract Hire

  • Initial payments are low, and are usually 3, 6, 9 or 12 advance rentals including VAT
  • 2, 3 or 4 year rentals plus VAT at fixed rates
  • Rentals are also fixed and don’t change with interest rate movement (excluding VAT changes)
  • Road fund license included for full duration of term
  • Full term breakdown cover
  • No concerns over depreciation
  • Optional replacement vehicle available for 48 hours in the event of a breakdown attended by the AA at the roadside
  • Optional maintenance packages available, which means service, repair and maintenance costs are budgeted for
  • Mileage amendments can be made to the contract during the term if required