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Hire Purchase HP finance offers a flexible approach. You tell us your deposit (we can take your current car as deposit) and how long you want to take an agreement over and we can give you a monthly figure. At the end of the agreement you own your car. HP is most suited to people who want long term ownership of a vehicle. Alternatively, tell us what you would like to keep your monthly payments to and we can advise you on amount of deposit and length of term. Lease Purchase Mainly used by business users, this type of finance has the benefit of flexible deposit and repayment periods, with a flexible % of the purchase price being deferred to the end of the term (commonly called a “balloon payment”). The purpose of the balloon payment is to reduce the regular payments, giving you flexibility and affordability). At the end of the finance agreement are 2 options; either pay the balloon payment to take ownership of the vehicle, or part exchange the vehicle and upgrade to a new one. PCP (Personal Contract Hire) Suited to people who regularly change their car or van - available on all new & many used cars & vans. There is no need to commit to pay a finance agreement for longer than you wish to keep the car. PCP Finance has a flexible deposit (subject to maximum deposit), flexible repayment periods - usually between 2 and 3 ½ years, with a final, optional, settlement figure (guaranteed minimum future value or GMFV) which is calculated at the time of purchase. At the end of the term you have 3 choices. Option 1: pay the GMFV and take ownership of the vehicle outright. Option 2: hand the vehicle back and walk away. If you have kept the vehicle in the appropriate condition and not exceeded the stated mileage, then you never need be in a negative equity situation at the end of the term. Option 3 is the most common choice: part exchange the vehicle to upgrade for a newer model. Contract Hire Finance Plan Especially suitable for VAT-registered businesses looking for the most tax-efficient method of funding their vehicle usage. Flexible deposit & repayment periods, and an optional maintenance package to give you all of the advantages of fixed-cost motoring. Up to 100%* rental can be offset against business use (*dependant on cash price), and up to 100%* VAT content is reclaimable (*50% if vehicle is also used for private mileage) Also, there are no disposal worries at the end of the finance term. If you're not sure don't worry we have a Business Manager on site to specifically help you find the tailor made one that works best for you. You will be able to choose from the wide suite of finance packages we present to you. Call Marianne today on 028 7181 2504. |
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