Taylors Motor Group Lincolnshire Car Dealership Lincolnshire

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Taylors Finance and Insurance Options


We can offer a range of Taylors finance and insurance options through our manufacturer partners.  Plus car finance from other selected car finance specialist partners..

Our Specialist Automotive Finance (SAF) approved specialists are available at all our dealerships and will guide you through the process.

Take a look at the available finance options below to see which one might be the most suitable for you.

Finance is subject to status and you must be 18 years or over to apply. The information we provide here is for guidance only.

Taylors Finance Options

Personal Contract Purchase

Personal Contract Purchase or PCP as it is commonly referred to is the most popular way to finance a vehicle. If you like to change your car regularly but want low monthly payments to fit your budget, then PCP may be for you. It is basically a loan for the car, but unlike a hire purchase or personal loan, you won’t be paying off the full value of the car and you won’t own it at the end of the term, unless you choose to.

A PCP works simply in that you put down your deposit (this may be, or include your part exchange) and you make monthly payments over an agreed time period. At the end of this period you are left with three options:


  • Buy the car with the pre-agreed balloon payment.
  • Hand the car back and walk away with nothing to pay; subject to excess mileage, or any damage, etc.
  • Get a new car using any equity left at the end as a deposit. For example, if the car is worth £9,000.00 and the balloon payment is £8,000.00, then there is £1,000.00 of ‘equity’ which may be used as a deposit towards your next car.
  • Personal Contract Purchase can offer the following benefits:
    • Lower monthly payments than a personal loan or hire purchase
    • No need to worry about the future value of the car
    • It’s flexible, giving you three options at the end on the contract
    • Service, maintenance, insurance and warranty packages may be included so that your total cost of motoring is included in one fixed and affordable monthly payment
    • You may be able to buy a more expensive car than you might otherwise be able to afford
    • You may be able to buy a new, or nearly new car, rather than an older, higher mileage car for a similar monthly amount

Use our free finance check to find out your chance of approval or contact one of our dealerships to find out more.

Taylors Finance Options

Hire Purchase/Conditional Sale

Car hire purchase is the traditional way of purchasing a car on finance and unlike PCP, once the final payment is made the car is yours.

You choose your deposit amount and you may use your part-exchange as a contribution to this deposit, then agree the most suitable repayment period between 12 and 60 months and depending on your budget, enjoy the vehicle straight away and once the final payment is made the vehicle is yours.

There are a number of benefits to hire purchase/conditional sale including:


  • If you cover a lot of miles then this could be the best option for you, as there are no mileage restrictions
  • There is nothing to pay at the end of the contract
  • Budget with ease as all payments are fixed
  • You will own the car outright at the end of the contract

Use our free finance check to find out your chance of approval or contact one of our dealerships to find out more.

Taylors Finance Options

Personal Contract Hire

Personal Contract Hire or PCH is a long-term vehicle leasing arrangement. This is an attractive option to those wanting to avoid depreciation and cover maintenance within the monthly payments.

PCH can be split into three stages.

Firstly you will pay an advanced rental fee at a rate agreed with the dealership.

Then you will need to agree on your mileage allowance per year, this will determine the monthly rental payments and the period over which you lease the car. You can then enjoy your vehicle until the end of the term.

And finally upon termination you will return the car to us.

Please be aware that you may need to pay any excess mileage or damage charges should this be applicable.

There are a number of benefits of to taking out Personal Contract Hire for a new car including:


  • The option to have maintenance and servicing costs within your monthly payments saves you money in this area
  • No worries about depreciation or risks that come with ownership of the car, such as the hassle of selling your vehicle at the end of the contract
  • Flexible repayment periods
  • Low initial rental

Use our free finance check to find out your chance of approval or contact one of our dealerships to find out more.

Taylors Finance Options

Total Loss Cover Insurance

Total Loss Cover insurance is added protection for your vehicle should it be written off after an accident. If in the unfortunate event that your car is written off by the insurance company, Total Loss Cover insurance can cover you for the gap between your cars market value at the time of being written off and the original value.

Total Loss Cover insurance covers the difference between the motor insurance company market value of the vehicle at the time of total loss and any outstanding finance, or the original invoice price (whichever is the greater amount). This saves you a costly pay-out and makes finding a replacement vehicle much more achievable.

There are a number of significant benefits to this type of cover including:

  • Total Loss Cover is available on both new and used vehicles
  • Offers important financial protection ensuing you are not left out of pocket
  • Covers the gap between the Motor Insurer’s market valuation and the original invoice price of the car for up to 3 years or up to 4 years depending upon the cover you chose
  • In the event of an approved claim, it will provide up to £350.00 towards your motor insurance excess and £500.00 loss expenses
  • Two levels of cover: Up to 36 months or 48 months with an additional 12 month cover provided for any finance shortfall. Premiums can be made monthly or paid as a one-off lump sum.

Cosmetic Repair Insurance

Cosmetic repair insurance can help to keep your car in showroom condition and improve the resale value, when it comes to selling or part exchanging your car.

Whether it’s through the carelessness of others or a momentary lapse of concentration, you could easily pick up a scratch or scuff in a car park or when parked on the side of the road.

With cosmetic repair insurance, you can get these minor damages repaired, plus there is no excess payment to make.

The cover is pretty comprehensive and covers the following:

  • Combined cover for your vehicle’s bodywork and alloy wheels
  • Covers chips up to 15mm diameter and 3mm in depth, minor dents and light scratches up to 300mm diameter, 3mm in depth.
  • Rest assured that the frustration of kerbing a wheel is covered, plus additional benefits are included if your alloy wheels are assessed and deemed beyond economical repair.
  • Stone chips and loose debris on the road can be fixed with a 5-year guarantee when using one of our approved mobile repairers.


With a large fleet of mobile repair vans on hand, you can have your car repaired at a convenient time and location of your choice.

Alternatively you may want to take your vehicle to a bodyshop of your choice and claim up to £200.00 towards your repair.

Cosmetic repair insurance is available on all new and used cars up to five years old, without any mileage restrictions.

Finance FAQs

Finance FAQs

Anyone can apply for car finance, provided that you meet the following criteria:

  • Hold a full UK provisional or full licence
    Are aged 18 years or over
    Have been a resident in the UK for over 3 years
    Are currently employed or self-employed, and work a minimum of 16 hours per week, and earning more than £850 per month (after tax) and can prove this.
FAQ Will I be accepted for car finance?

If you think you may have a credit profile that is far from perfect, repeated credit checks could make the situation worse. Our ‘soft search’ is much better as it does not register on your credit record, so it won’t have an impact on your credit rating at all.

Conducting all checks will help you work out your budget and what cars are available for you to test drive.  It is easy to do. Simply use our online checker tool or visit one of our dealerships where an accredited advisor will be on hand to get the best possible outcome for you. We work with several different lenders so just because you may have been declined in the past, does not automatically mean you will be declined again.

Can I use my part-exchange as a deposit?

You may use your existing vehicle to form some or all your deposit. This process may also be repeated at the end of the contract if you choose to change your car.

Is Road Tax included in the price of personal contract hire?

Yes, road tax is included for the duration of the contract.

What is not included when taking car finance?

You will be required to sort you own vehicle insurance and any additional insurance products which are purchased, such as Total Loss Cover insurance.

Maintenance and servicing are not included as standard, but we do have packages available to include these should you choose to add them.

Can I hand my vehicle back earlier than agreed?

It is possible to hand your vehicle back before the end of the contract.

However ,this may require you to pay an early termination charge, which is calculated dependent on a percentage of your remaining monthly rentals, how many miles you have covered and what the market value of the vehicle is at the time a request is made.

Can I make amendments to my lease contract?

Whether changes can be made to your contract is a decision to be made by the finance company who are providing the lease. If you want to make any amendments, such as the length or annual mileage you should contact your finance company directly.

If road tax increases will my payments increase?

Normally the monthly rentals are fixed for the duration of the contract as allowances are usually made for any potential increase in road tax during the term.

Some finance companies though do reserve the right to charge a one-off payment to cover the increase in road tax for that year, if it is a significant increase for instance. Your finance agreement should have this clause inserted if this is the case, or contact your finance provider for clarification.

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