Elev8 Finance

We are proud to be closely associated with Elev8 Finance, a sister company to Romans International which was initially born out of our clients desires to have us oversee and arrange finance for when on occasions they had found a car elsewhere at another dealership.

Whilst we still offer finance for our clients who are buying from Romans, Elev8 Finance has now grown into it’s own separate business. Elev8 partners with many other luxury car dealerships reaching new clients across the UK building a reputation for offering extremely competitive rates, a seamless fast service whilst ensuring their clients get the best knowledge and advice.

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Our Finance Experts

Meet the team
  • Mike McCann
    Mike McCann
    General Manager
    Mike McCann
    Mike McCann
    General Manager

    Our resident Geordie has been with Romans since 2013 and we believe he is the number 1 finance guy in the industry. His prior experience with some of the biggest finance companies in the world combined with his vast knowledge of the finance market Mike ensures our customers get the very best advice and unbeatable service when it comes to finance.

    Dream Road Trip: Cruising from San Francisco to LA in a Mercedes 300SL Gullwing with Peter Kay.

  • Sarah Lovitt
    Sarah Lovitt
    Business Manager
    Sarah Lovitt
    Sarah Lovitt
    Business Manager

    With a career in the motor trade that spans 25 years Sarah brings lots of industry experience working alongside Mike in the finance department and has been instrumental in the growth of our sister company Elev8 Finance.

    Dream Road Trip: Taking a Porsche 911 Speedster to the Italian Riviera with her daughter.

  • Harry Watson
    Harry Watson
    Sales Support
    Harry Watson
    Harry Watson
    Sales Support

    Initially recruited to join our admin department, Harry ended up working various roles within the business showing great adaptability. It was assisting the finance department where he really excelled though and is set to be one of our rising stars. 

    Dream Road Trip: Driving a manual Porsche 911 GT3 Touring on Highway 1 in California with his Dad.

What Our Customers Say

Hire Purchase (HP)
Lease Purchase (LP)
Personal Contract Purchase (PCP)
Equity Release
Hire Purchase (HP)
Overview

The most simple and straight-forward agreement is ‘hire purchase’ where after paying the initial deposit you make fixed monthly payments evenly spread throughout the agreed term to cover the full amount borrowed plus any interest and fees. Once all of the payments have been paid the car is yours.

Benefits
done More flexibility with deposits. Interest-only deals are sometimes available with large deposits
done You can choose the length of the agreement from a 1 year agreement up to a 5 year agreement
done No large balloon payment to pay off at the end of the agreement like there is with Lease Purchase and PCP
done Best option if you know you want to keep the car beyond the finance agreement as you will likely own the car quicker
done You can settle the agreement early by paying off the required amount
done There are no mileage restrictions
Lease Purchase (LP)
Overview

Lease purchase is our most popular type of finance agreement and is best suited to cars with higher values and for customers that like to change cars regularly. Similar to a hire purchase agreement with the main difference being a “balloon payment” is due at the end of the agreement as part of the value is deferred till the end in order to bring the monthly payments down. You can then choose whether to pay off the balloon, sell the car or you can always re-finance the car.

Benefits
done Lower monthly payments
done Finance companies often set higher residual values on used cars as they are not guaranteeing the value like they do with PCP thus making the monthly payments lower
done You can settle the agreement early by paying off the required amount
done Tends to suit customers who like to change cars more frequently
done There are no mileage restrictions
done There are no damage and excess wear fees like there is with PCP
Personal Contract Purchase (PCP)
Overview

PCP is similar to a lease purchase in that it defers part of the value till the end of the agreement giving you lower monthly payments during the agreed term but the key difference being that the lender sets a “Guaranteed Future Value” (GFV). This GFV gives you the added flexibility of returning the car at the end of the agreement with nothing to pay assuming you meet the condition and mileage terms set out in the agreement.

Benefits
done Lower monthly payments
done More flexibility with a variety of options at the end of the agreement
done Option to hand back the car at the end of the agreement
done You are effectively only paying for the depreciation of the car rather than the full cost of the car
done Best for people who are intending to keep the car for the full term of the agreement
done Tend to suit people buying brand new cars as higher GFVs are set in order to incentivise new car sales
Equity Release
Overview

You don’t have to be buying your next car in order to benefit from taking out a finance agreement. It is possible to take out a finance agreement on a car you already own in order to release some capital. This works well for our clients who might looking at a property purchase or an investment opportunity and initially paid cash for their car. The equity release process means we buy your car from you and sell it back to you on a funding facility that meets your needs.

Benefits
done Raise cash quickly for additional property purchase or investment opportunity
done No intermediary dealer making it very straightforward
done Easier to get acceptance than a personal loan and often lower rates too