Personal Contract Purchase (PCP)
You pay an agreed monthly payment as you do with a personal contract hire, the only difference is that when it comes to the end of the conteact, you have the option to purchase the vehicle for an agreed amount.
Personal leasing offers you a peace of mind as you pay a fixed price for your motoring each month. There's no large bills to worry about, making financial planning and household budgeting much easier.
Owning a vehicle comes with financial risk. There's depreciation of the vehicle value, MOT, servicing, repairs and breakdown cover to organise and pay for separately. With leasing you have all the benefits of ownership without the hassle and risk that come with it.
Most brand-new cars lose 50%-60% of their value in the first three years. When it comes to personal leasing, the risk of depreciation is taken on by the funder.
Purchasing a new car requires a high payment upfront whereas leasing a car gives you access to a brand-new car with a flexible initial payment - this is normally 3, 6 or 9 months rental up front - depending on your preference.
Over the same period of time, car leasing usually works out to be the most cost-effective option when you want to drive a brand-new car or van.
A full manufacturer warranty normally covers you for the full period of the lease so you don't have to worry about any surprise costs if something goes wrong with the vehicle that wasn't your fault.
You can also take out a maintenance package which includes breakdown assistance, servicing, even replacement tyres and puncture repairs. Leasing also releases you from the bind of selling old vehicles privately - when you come to the end of the contract you can simply lease another brand new car.
You may be pleasantly surprised to see that you can get much more for your money than would be possible if you were looking to purchase a car.
If you are seeking a personal agreement and are employed with capital to commit up front, a poor credit history doesn't have to be a problem. Just let us know.
We aren’t tied to any car manufacturer or funder so we bring you the best lease deals from across the market at any one time. If you’re looking for an economical vehicle to minimise the company VAT you’ll pay, want some advice on choosing the right vehicle for your employees or simply want to see what you can get for your budget, we can help. Try out our car search facility now or give us all to discuss. We’re confident we can find you the right lease deal.
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