Vehicle Finance : Through our close association with specialist vehicle financing companies we can offer a wide variety of packages ideal for both businesses, self employed and private individuals. Below are some brief explanations of the facilities available.
Hire Purchase
A conventional method of funding a car over a period of months, which would be a benefit to clients who want to totally pay for the goods in a cost effective manner and enjoy the flexibility of being able to settle the agreement early.
Lease Purchase
A more sophisticated method of funding which works on a similar principle to HP but with a differed large payment at the end of the agreement for the purpose of improving cash flow. Lease Purchase agreements can also be settled early.
Personal Contract Purchase
A payment structure similar to Lease Purchase but with an agreed annual mileage with the added benefit of having an 'Optional Final Payment' at the end of the agreement often referred to as a 'Minimum Guaranteed Future Value' which protects the hirer from negative equity at contract end
Contract Purchase
A payment structure similar to Lease Purchase but with an agreed annual mileage with the added benefit of having an 'Optional Final Payment' at the end of the agreement, often referred to as a 'Minimum Guaranteed Future Value' which protects the hirer from negative equity at contract end.
Finance Lease
Typically structured in the same way as Lease Purchase with or without a balloon payment at the end of the term to have the effect of reducing the monthly instalments. A percentage of VAT can be reclaimed on the monthly rentals depending on the usage of the car.
Contract Hire
Sometimes known as an Operational Lease, Contract Hire allows a company to pay for the usage of a car rather than pay for the ownership. This is known as no risk and no reward that is to say that at contract end you will simply hand the car back
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