When it comes to buying a car in Liverpool and the surrounding areas, Wavertree Car Centre Finance has built a strong reputation for offering a wide range of used cars and flexible finance options.Whether you’re after your first car or upgrading to something more premium, their finance packages can help make your purchase more affordable.
But before you sign on the dotted line, it’s important to understand how their finance works, what options are available, and how to ensure you’re getting the best deal possible.
Who Are Wavertree Car Centre?
Wavertree Car Centre is a family-run dealership in Liverpool that has been trading for decades. They specialise in:
- Quality used cars
- Competitive part-exchange deals
- Flexible finance packages for a wide range of budgets
They work with multiple finance providers, meaning customers often have a variety of payment options to choose from.
Topics of Wavertree Car Centre Finance
Finance Options at Wavertree Car Centre
Like many UK dealerships, they typically offer:
1. Hire Purchase (HP)
You pay a fixed monthly amount over an term. Once all payments are made, the car is yours
- Pros: Easy to understand, fixed interest, ownership at the end.
- Cons: Higher monthly payments than PCP.
2. Personal Contract Purchase (PCP)
You pay lower monthly instalments, with an optional balloon payment at the end if you want to keep the car.
- Pros: Lower monthly cost, flexibility at the end of the term.
- Cons: Mileage limits, extra charges for damage.
3. Personal Loans
Some customers arrange their own finance through a bank or lender and simply pay Wavertree upfront.
- Pros: May offer better interest rates.
- Cons: Requires good credit score.
Eligibility for Finance
Most customers can apply for finance, but approval depends on:
Credit score and history
Income and employment status
Deposit amount
Type of vehicle being purchased
Even if you have a poor credit history, Wavertree works with lenders who specialise in subprime finance, though interest rates may be higher.
Tips for Getting the Best Finance Deal at Wavertree Car Centre
1. Check Your Credit Score – A better score often means lower interest rates.
2. Compare Lenders – Don’t rely solely on in-house finance; get quotes from banks too.
3. Negotiate the Car Price First – Secure a fair vehicle price before discussing finance.
4. Consider a Larger Deposit – This reduces the amount you borrow and the interest paid.
5. Read the Small Print – Understand mileage limits, fees, and penalties.
Potential Risks and Things to Watch Out For
- High Interest for Bad Credit – If you have poor credit, expect to pay more.
- Mileage Charges (PCP) – Going over the limit can cost you extra.
- Negative Equity – Be aware that the car’s value may drop faster than you repay the loan.
(FAQs) About Wavertree Car Centre Finance
1. Can I get finance at Wavertree Car Centre with bad credit?
Yes, they work with lenders that offer finance to customers with poor credit histories, though interest rates will be higher.
2. Do I need a deposit to get finance?
Not always, but paying a deposit can improve your chances of approval and lower your monthly payments.
3. What’s the difference between HP and PCP at Wavertree?
HP gives you ownership at the end, while PCP offers lower monthly payments with an optional final payment if you want to keep the car.
4. Can I settle my finance early?
Yes, most agreements allow early settlement, but check for any fees or penalties.
5. Are there mileage limits?
Mileage limits usually apply to PCP deals but not to HP agreements.
6. Is the finance arranged by Wavertree themselves?
They act as a broker, connecting customers to various lenders rather than providing the finance directly.