Finance Options

Personal Contract Hire (Referred to as Leasing)
Personal contract hire is a type of lease for personal customers. It consists of an upfront payment followed by regular monthly payments over a fixed period of time. It is usually cheaper than financing a vehicle outright as you are effectively renting the vehicle, it doesn’t belong to you. The agreement is based on a fixed term and mileage. Charges will occur if you exceed the mileage stated on your contract so it is important to take a contract based on a mileage that will best suit your personal needs.
The vehicle belongs to the finance company so at the end of your contract you hand the vehicle back to them. This type of contract is usually preferred by people who like to change their vehicle every few years.

Examples of mileage excess average around 4-6p a mile for small cars 6-9p for medium sized to 10-16p for large executive cars, Road tax manufactures warranty and breakdown cover are included for the period of the agreement (providing the manufactures warranty has not expired).

Business Contract hire ( Referred to as Business leasing)
Contract hire can be a cost effective rate for businesses wishing to run new cars. The monthly rentals are fixed for the term of the contract and include Road Fund License (RFL). For VAT registered companies, a portion of the VAT may be reclaimed.
The vehicle is handed back at the end of the contract, excess mileage charges will apply if the contract mileage is exceeded average examples 4-6p a mile for small cars 6-9p for medium sized to 10-16p for large executive cars.

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