Car Finance Options Explained…
Posted on: 21st Jun 2018
Finding the right car that’s suitable for you is an exciting experience but deciding how to pay for your new car can be a challenge as there are various options to choose from, some of which not everyone fully understands. Below we will explain the most popular forms of payment options, to help you decide which one is right for you.
Personal Contract Purchase (PCP)
Personal Contract Purchase is where you pay an initial deposit followed by a series of monthly payments. At the end of your contract you have three options of what to do with the car:
1. Hand it back to the dealer, as long as it is in good condition.
2. If you want to buy it outright, you pay the final payment, also known as the balloon payment.
3. If your car is worth more than the Guaranteed Future Value (GFV) then you can use that equity towards a deposit on a new car.
Please be aware that if you go over your agreed annual mileage, an additional cost will be required when your contract ends. This also applies to any major bumps/scrape beyond the usual wear and tear. It is important to thoroughly read through your contract as all terms & conditions are outlined.
Hire Purchase (HP)
Similar to PCP, you’ll pay a deposit and monthly payments over an agreed time, however you’re paying off the entire value of the car not the depreciation of the car. Unlike a PCP agreement, there will be no terms and conditions in relation to annual mileage and wear and tear, as at the end of the agreement, you will own the car.
Personal Contract Hire (PCH)
If you do not want to buy the car at the end of a contract period, nor are you looking to change your car during your agreement, then a Personal Contract Hire would be the best choice as it is essentially a long-term rental. Once the agreement ends, you will not own the car and it will be returned to the dealer. Charges will still apply if you go over your agreed annual mileage and if there is any damage on the car.
Personal Bank Loan
With a personal bank loan you can personally arrange to either take out the full amount of the purchase price of the car, or a certain amount if you are shortfall if you want to pay cash. The positives of this option is that you will own the car outright from the start, and you don’t need to worry about limiting your annual mileage or returning the car after so many years.
With all of the above options you need to consider if you can afford the monthly payments/cost before signing the contract. If you would like more information, do not hesitate to contact our Centres across the North East.
MOT Changes 2018
Posted on: 19th May 2018
As of 20th May 2018, the MOT test has undergone some of the most significant changes of its near 60-year history. Some of the changes include new defect categories, stricter rules for Diesel car emissions and some cars over 40-year-old will be exempt from the MOT test. The main changes which you need to know about are explained below.
Driving Test Changes In December 2017
Posted on: 4th Dec 2017
The Driver and Vehicle Standards Agency (DVSA) have confirmed that from today (Monday 4th December), changes to the driving test are now in effect.
Winter Driving Questions Unveiled: Part 1
Posted on: 15th Nov 2017
With the cold winter days fast approaching and the dark nights now here, driving can be a daunting experience. Whether you’re driving to work, the shops or travelling to a relative’s home for Christmas ensuring your car is in full working condition is essential. Sometimes though, we forget some of the rules of the road during the colder months;...
Richard Hardie Staff Race To The Finish Line At The Great North Run 2017
Posted on: 13th Sep 2017
Last weekend (Sunday 10th September) some of our fitness fanatic staff completed the Great North Run, which is the largest half marathon in the UK with over 57,000 runners participating each year! Do you want to find out how our team got on? Read their inspiring stories below…
Richard Hardie Ready For The New 67 September Plate Change
Posted on: 30th Aug 2017
Take a look at our top picks for new cars as we get ready for the September 67 plate change!
A Guide To Child Seat Laws
Posted on: 28th Aug 2017
Check out our handy guide on the new child seat laws and everything you need to know about choosing the correct seat for your child.
A Look Into The Future Of Driving Safety And Technology
Posted on: 26th Jul 2017
Take a look at the latest technology to reduce phone use behind the wheel.
Richard Hardie Welcomes The Abarth 695 XSR Yamaha To The Range
Posted on: 25th Jun 2017
Take a look at the All-New limited edition Abarth 695 XSR Yamaha!
Drivers Urged to Slow Down After New Speeding Fines are Introduced
Posted on: 22nd May 2017
We take a look at the new speeding fines and what it could mean if you get caught.
Valentine’s Day Road Trip Ideas
Posted on: 13th Feb 2017
Looking for something extra special to do this Valentine’s Day? How about a road trip? The UK has some wonderful places, especially around the North East. Here we share with you those places and how to make your Valentine’s Day that little more special.
Top Tips On De-Icing Your Car
Posted on: 23rd Jan 2017
Don't get stressed out trying to de-ice your car, follow our top tips!
Richard Hardie Raise over £378 for Save the Children
Posted on: 30th Dec 2016
On Friday 16th December 2016 our Richard Hardie Centres in Ashington, Durham, Newcastle, Silverlink and Sunderland, flaunted their Christmas Jumpers to raise money for Save the Children. We had a great day playing various fundraising games and in all we raised £379.72 between our five Centres in the North East!
Winter Driving Tips
Posted on: 22nd Dec 2016
Here are our top winter driving tips to get you and your car through the next few months.
Available Now: The New Fiat 124 Spider and Abarth 124 Spider
Posted on: 21st Sep 2016
Taking Your Car Abroad
Posted on: 22nd Aug 2016
Our top tips on how to prepare for your European driving holiday.
Richard Hardie Durham to Complete Demanding Two Day Coast 2 Coast Challenge
Posted on: 14th Aug 2016
Some of the team at our Durham branch are embarking on a gruelling two day challenge later this month to support and raise money for excellent charities close to their hearts. The team are doing the Coast 2 Coast starting at Whitehaven on the 26th August and finishing the challenge at Sunderland on the 28th August 2016.
Richard Hardie Unveils New Fiat And Abarth Centre
Posted on: 10th Aug 2016
Family-owned Richard Hardie has chosen to invest heavily in its Wearside centre, in order to increase customer offerings and create more job opportunities in the area.
Abarth and Fiat Anniversary
Posted on: 28th Jul 2016
The end of this month will see the 44th anniversary since Fiat and Abarth merged.
Keeping Yourself Cool Over Summer (and your car!)
Posted on: 20th Jul 2016
With the hottest day of the year sneaking up on the UK, Richard Hardie have put together some tips to help you and your car stay cool this summer.
Chris Moody Celebrates 25 Years at Richard Hardie
Posted on: 30th Jun 2016
Chris Moody celebrates 25 Years with the company on 1st July 2016. Chris originally started as an YTS apprentice for 2 years at the Chester le Street branch and then became employed on the 1st July 1991. Since then Chris has had many promotions from then and became Group Parts Manager in 2001.
Is Your Car Ready For Summer?
Posted on: 26th Apr 2016
Our cars take a bit of a beating over the cooler months. Follow our tips to ensure your car is ready for long summer drives!
Striking Abarth 124 Spider Makes Geneva Debut, Complete with Enhanced Performance & Dramatic Visuals
Posted on: 4th Mar 2016
Abarth 124 Spider and Abarth 124 Rally Now Available to Order
Richard Hardie Raises £127 for Text Santa 2015!
Posted on: 24th Dec 2015
Last week we raised £127 between our Sunderland and Durham dealerships for Text Santa!
New Abarth 595 Yamaha Factory Racing Edition
Posted on: 5th Nov 2015
Recently a new special edition of the Abarth 595 has been launched to celebrate the brand becoming the official sponsorship and car supplier of the Movistar Yamaha MotoGP team.
Limited Edition Abarth 595 Trofeo Launched
Posted on: 15th Sep 2015
Abarth have recently launched a special 595 Trofeo Limited Edition for enthusiasts looking for a fun drive in an exclusive model.
Could the Fiat 500X be set for an Abarth makeover?
Posted on: 7th Sep 2015
After a while of speculating, Abarth’s next focus could be on a high performing Abarth 500X
The Compact Supercar - Abarth 695 Biposto
Posted on: 26th Aug 2015
With the new Abarth 124 Spider not expecting to be released for another year or more...
Abarth 124 Spider Confirmed For 2016-17
Posted on: 3rd Aug 2015
After months of speculation, plans for an Abarth 124 Spider have been confirmed!
Important MOT Checks
Posted on: 16th Jul 2015
Our guide to the important checks involved in an MOT.
Fiat 500 Abarth: What's It Like To Drive?
Posted on: 29th Jun 2015
You’ll have read reviews of the Fiat 500 Abarth before, of course. But anyone considering buying the performance supermini might like to know what it’s like to actually drive one.
Abarth To Launch Spicy 500X?
Posted on: 11th Jun 2015
The iconic Fiat 500X was launched to a great fanfair in Turin last autumn, with its sophisticated technology and driving capability. It was the first crossover in the 500 family and came in two handy editions: City and Off-Road.
Abarth Biposto Is Preposterous Good Fun
Posted on: 7th Jun 2015
The Abarth Biposto is the quickest Abarth to date and it has been described as the world's smallest supercar...
Abarth Increases The Power On Latest Competizione
Posted on: 2nd Jun 2015
Update the power of your Abarth Competizione, read our updated reviews.
Abarth Launches Hotshot Cabrio For Summer
Posted on: 14th May 2015
Get ready for summer with a brand new Abarth Cabrio!
The History of the Abarth 500
Posted on: 23rd Apr 2015
Today the Abarth brand is synonymous with impressive motoring engineering and design excellence.
Abarth to appear at UK supercar event
Posted on: 1st Sep 2014
Following it’s road debut and starring role as the ‘Official Car’ of the Gumball 3000 Rally and appearance at the prestigious Goodwood Festival of Speed the Abarth 695 biposto will attend the Salon Privé event at Syon House on the 3rd to 5th September 2014.
Save Money With Superb 64-Plate Deals on Fiat & Abarth
Posted on: 25th Aug 2014
The new autumn 2014 registration plate change arrives on 1st September, and drivers can benefit from great bargains on the latest Fiat models at Richard Hardie.
Big star, small car! Clint Eastwood in his FIAT500
Posted on: 25th May 2014
He can afford any car on this earth but forget a Lamborghini, the only Italian motor Clint Eastwood wants is a Fiat. The 83-year-old mega star arrived on set in Venice, California, in the Fiat 500 Hatchback.
New Photo facilities at our centralised Used Car Preparation facility
Posted on: 27th Apr 2014
To further improve the quality and presentation of our used cars we’ve recently established a dedicated photography area within our centralised used car preparation area.
Abarth 595 Special Edition
Posted on: 27th Apr 2014
Fiat have launched a special edition Abarth 595 to celebrate the car’s 50th anniversary.
The original Abarth was unveiled at the Turin Motor Show in 1963, which propelled the original Fiat 500 into hot hatch territory.