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*Images may not represent the model quoted
*Contracts may be subject to vat @ 17.5% |
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| Home / Options Explained |
Business Finance
Contract Hire
A popular choice for VAT registered companies that want minimum outlay and
maximum control of costs. One regular rental payment covers all risks including
depreciation and disposal for an agreed period of time and mileage. Road
fund license is included for the term with maintenance cover being optional.
Contract Purchase
For non-Vat registered companies and for those with high value vehicles,
which would like the option to purchase the vehicle, but don't want the depreciation
risk. The customer acquires the vehicle by paying fixed monthly instalments
with the asset being shown on the company balance sheet, and can either retain
ownership at the end of the contract or hand the vehicle back. Road Fund
License is included for the term with maintenance being optional.
Finance Lease
Ideal for VAT registered companies who want to handle the administration
of their vehicles with the asset shown on their balance sheet. The hirer
can choose to pay the entire cost over the agreed lease period, or pay lower
monthly rentals with a deferred final payment based on the anticipated resale
value of the vehicle.
Lease Purchase
A funding agreement suitable for both business and private users who wish
to acquire ownership once all payments have been made. Part of the capital
cost of the vehicle may be deferred into a "balloon" payment at
the end of the agreement, which is based on the estimated future value, thus
reducing the monthly payment. The balloon payment must be met by either the
sale proceeds of the vehicle, or a lump sum payment.
Hire Purchase
The traditional method of purchasing a vehicle over a period of time, suitable
for everyone. It consists of an initial deposit, normally a minimum of 10%
with the balance being paid off in full over the period of the agreement.
Personal Finance:
Personal Contract Hire
A Hiring Agreement where the vehicle remains the property of the Finance
Company. The vehicle is disposed of by the Finance Company at the end of
the contract, which is set for a period usually 2 or 3 years. The Contract
is for a set mileage usually for a maximum mileage of 100,000 petrol engines & 120,000
diesel engines. The customer pays a fixed monthly rental, which will always
include; the cost of the vehicle funding, cost of vehicle depreciation, and
Road Fund License paid throughout the contract.
Personal Contract Purchase
Enjoy the pleasure of driving a new vehicle every two or three years or 4
years, with PCP, the flexible and affordable payment schemes. With PCP, you
have an attractive fixed monthly cost and a low initial deposit. Monthly
payments are fixed over the repayment period, normally two or three years.
PCP is available for both New and Approved Used Vehicles (up to four years
old). At the end of your agreement you have the option to make a final payment,
which is also the guaranteed minimum value that your car will be worth regardless
of any negative market conditions.
Lease Purchase
A funding agreement suitable for both business and private users who wish
to acquire ownership once all payments have been made. Part of the capital
cost of the vehicle may be deferred into a "balloon" payment at
the end of the agreement, which is based on the estimated future value, thus
reducing the monthly payment. The balloon payment must be met by either the
sale proceeds of the vehicle, or a lump sum payment.
Hire Purchase
The traditional method of purchasing a vehicle over a period of time, suitable
for everyone. It consists of an initial deposit, normally a minimum of 10%
with the balance being paid off in full over the period of the agreement. |
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