Personal Contract Hire (Regulated)

For the private individual the more traditional methods of buying cars i.e. hire purchase, bank loan or from savings are becoming less and less attractive as more sophisticated and cost effective methods become available.

Many companies are choosing to give their current company car drivers "cash" instead of a company car, to allow them to make their own arrangements, and therefore avoid benefit in kind taxation.

Personal Contract Hire gives the user a fixed monthly Payment for a fixed contract. At the end of the contract you hand the vehicle back and take delivery of a new one. No need to sell the vehicle privately or worry about its value.

Personal Contract Hire arrangements can also include a full maintenance package as part of the monthly rental. This provides full cover for all maintenance requirements from regular services, tyre replacements to more involved mechanical repairs. Because maintenance cover is provided as a fixed cost as part of the monthly rental, it removes the risk of unforeseen breakdowns and large repair bills.

Personal Contract Hire delivers a no hassle solution to running a car and as the costs are fixed and equal, it allows you to budget exactly for your car spend.

Benefits:

• Fixed Monthly payments. No need for a lump sum (Balloon Payment) at the end of contract.
• Reduced Monthly Payments due to Guaranteed residual values.
• No disposal worries at the end of the contract.
• Minimal initial rental necessary 3-6 Monthly payments subject to credit status.
  

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Personal Contact Purchase

This could offer a lower cost and more flexible alternative to other finance packages. The PCP also offers much greater flexibility and at the end of the term the driver can choose from these options:

• Return The Car - When the Contract Term comes to an end, the driver can advise us and simply return the car with nothing else to pay, subject to the vehicle being in a reasonable condition. The advantage of this approach is that there is no need to pay the "Final Optional Payment". Where a vehicle is returned in a condition that is considered by us to be below the anticipated standard for age and mileage, charges may be applied to bring the vehicle to the required condition.
  
• Keep The Car - Again, this option has its own advantages. The driver will own the car outright once they have paid the Final Optional Payment.

Benefits:

• Fixed Monthly payments.
• Option to Purchase at the end of contract.
• Minimal initial rental necessary usually 3-6 Monthly payments subject to credit status.
• Ability to increase deposit to reduce monthly payments.
• Flexible contract terms with & without maintenance.