Finance Methods for Businesses
Contract Hire
Contract hire is a fixed term hire agreement for a car or van. With contract hire you can;
- Budget easily for vehicle running costs as the vehicle monthly rental is fixed for the duration of the contract.
- Include a full maintenance contract to total peace of mind knowing that all of your maintenance, service & tyre costs (excluding damage) are covered for the duration of the hire period.
- Be safe in the knowledge that you are not going to loose money at the end of the contract with the vehicle not being worth as much as you anticipated (as the finance company take the future vehicle risk)
- Reclaim the VAT on the monthly cost (subject to you being VAT registered). There is a 50% reduction on the VAT reclaimable of the vehicle rental should their be any private use of the vehicle.
Contract Purchase
Contract Purchase is a fixed term purchase agreement for a car or van. With Contract Purchase you can;
- Budget easily for vehicle running costs as the vehicle monthly repayment is fixed for the duration of the contract.
- Include a full maintenance contract to total peace of mind knowing that all of your maintenance, service & tyre costs (excluding damage) are covered for the duration of the hire period.
- Purchase the vehicle at the end of the contract. The purchase value is set from the outset of the contract, if at the end of the contract you wish to purchase the vehicle you simply buy it for the pre-agreed price or give it back to the finance company.
Finance Methods for Private Individuals
Personal Contract hire
Personal Contract hire is a fixed term hire agreement for a car or van. With contract hire you can;
- Budget easily for vehicle running costs as the vehicle monthly rental is fixed for the duration of the contract.
- Include a full maintenance contract to total peace of mind knowing that all of your maintenance, service & tyre costs (excluding damage) are covered for the duration of the hire period.
- Be safe in the knowledge that you are not going to loose money at the end of the contract with the vehicle not being worth as much as you anticipated (as the finance company take the future vehicle risk)
Personal Contract Purchase (PCP)
Personal Contract Purchase is a fixed term purchase agreement for a car or van. With Contract Purchase you can;
- Budget easily for vehicle running costs as the vehicle monthly repayment is fixed for the duration of the contract.
- Include a full maintenance contract to total peace of mind knowing that all of your maintenance, service & tyre costs (excluding damage) are covered for the duration of the hire period.
- Purchase the vehicle at the end of the contract. The purchase value is set from the outset of the contract, if at the end of the contract you wish to purchase the vehicle you simply buy it for the pre-agreed price or give it back to the finance company.