Balanced Payments Car Finance

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Balanced Payments Car Finance

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    reducing interest penalty options for early settlement

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    Low Deposit

    allowing you to free up cash

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    Potential Savings

    save money if interest rates fall

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    Fixed Monthly Payments

    your payments remain fixed

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    Tax Benefits

    tax allowances for business users

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    VAT Free

    no VAT on payments

    Balanced Payments Finance Explained

    Balanced Payments Car Finance

    At Oracle Finance we offer a broad range of finance products including Balanced Payments.

    A Balanced Payment Plan offers the benefits of a fixed monthly payment but unlike a Hire purchase agreement where the interest rate is fixed, Balanced Payments offer a variable rate which tracks the changes in the lender’s reference rate. As the rate goes up or down over the period of the contract, so does the amount of interest you pay.

    Following payment of an initial deposit, the balance is then paid over an agreed term, usually 1 – 5 years. At the end of the agreement any variation in interest rates is reconciled and will be settled as either a credit to you, or a charge. Other options available with a Balanced Payment Plan include a final ‘balloon’ payment which has the benefit of reducing your monthly payments by deferring an agreed element of capital until the end

    Before choosing a Balanced Payments Plan, you need to consider the following:

    • There is no option to return the vehicle to the lender
    • The rate may go up, resulting in you paying more interest
    • Balanced Payment Plans are not regulated by the Consumer Credit Act, however this gives you access to additional features of variable rate finance
    Current representative APR

    7.95% APR

    Oracle Finance is a Credit Broker and not a Lender.

    This means that we deal with a wide range of financial institutions to give our customers a greater choice of competitively priced options. For your protection, Oracle Finance is authorised and regulated by the Financial Conduct Authority for the sale of consumer credit. Oracle Finance is a trading name of Oracle Asset Finance Limited.

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