Potential Funding Options.

Contract Hire:
Contract Hire is a finance product which relates to use rather than ownership, normally to a VAT Registered business or company, for a set time and mileage at a fixed monthly rental. The monthly rental is determined by the cost of the vehicle, the period and mileage covered as well as the resultant depreciation.

Maintenance packages are often included within Contract Hire Agreements, but are not obligatory.

Personal Contract Hire:
Personal Contract Hire, as it name suggests, is essentially the same as Contact Hire but for private individuals. If you want fixed cost motoring, or have opted out of a company car scheme then Personal Contract Hire could provide you with hassle free motoring without the residual value risks associated with traditional ownership.

VAT is built into the monthly payments, but is not reclaimable by private individuals. Maintenance packages are usually available so that you don't get any nasty surprises.

Lease Purchase:
Lease Purchase is a method of financing a vehicle, normally for VAT registered businesses or companies. The monthly rental is determined by the cost of the vehicle, the period and the estimated future value of the vehicle which is based on the proposed annual mileage.
A payment equivalent to the estimated future value is payable at the end of the contract, when the vehicle becomes the property of the leasee.
Maintenance packages are often available, if required.

Lease Purchase is a cheaper monthly alternative to Hire Purchase, the traditional method of financing, and is written on a hire purchase agreement but offers more flexibility and repayment options.

Finance Lease:
Finance Lease is a VAT Free method of financing a vehicle, normally for vat registered businesses or companies. The monthly rental is determined by the cost of the vehicle, the period and the estimated future value of the vehicle which is based on the proposed annual mileage. A payment equivalent to the estimated future value is payable at the end of the contract.
At the end of the contact period, the vehicle is sold and the proceeds returned to the Leasee.

Maintenance packages are often available if required.

Hire Purchase:
Hire Purchase is the traditional method of financing a vehicle with the vehicle becoming the property of the lessee at the end of the period. The monthly payment is determined by the amount of deposit paid, the period of the contact and the sale price of the vehicle.