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Finance Types

Personal Contract Purchase

With Personal Contract Purchase you can either lease or purchase the vehicle for an agreed term this can range between 12 and 48 months this is based on a fixed monthly payment and on the mileage you cover over the term, at the lease end period there are a number of options;

• Pay a final payment/lump sum you then take ownership of the vehicle outright.
• Pay final payment/lump sum by a refinance package carry on extra payments.
• Part exchange the vehicle if the final payment/residual is less or similar to the value of the vehicle.
• Or simply hand the vehicle back and walk away.

There is no VAT content involved on monthly finance payments.

Maintenance can be applied to this contract but VAT content will be payable

Benefits

• An option for a fully maintained contract.
• An option whether to own the vehicle or hand it back at lease end.
• An advantage over Hire Purchase with lower deposit and payments.
• Allows a private individual to obtain full fleet discount on the purchase of the vehicle