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. Finance terms explained - Bike Trader UK
Unsecured loan: The finance company has no security against thePersonal Contract Purchase. A personal finance scheme which defers part of the payment for the car until the end of the loan, when the car is usually traded in. balloon" payment if you wish to own the car at the end of the finance agreement. There are also often additionalyours. Residual value (or guaranteed minimum future value) Anticipated value of the bike at the end of the finance agreement. Only applicable to PCPsfinance is generally secured on the car itself. Again, there may be an additional
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http://www.autotrader.co.uk/BIKES/loans/finance_terms_explained.jsp
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