Contract Hire and Personal Contract Hire
Contract hire is the most popular and most widely promoted type of car leasing - for both personal leasing or business customers. In simple terms, contract hire or personal contract hire, is like hiring a car for a long period of time. You just pay a fixed monthly rental that includes road tax and is based on a pre-agreed annual mileage. Monthly rental payments are subject to VAT and the vehcile is delivered and collected, to & from your door. All you need to do, is service and maintain the vehicle; insure it; and put fuel in it – plain and simple. The vehicle goes back at the end of the lease and you have no further commitment. Click here for our best selling car leasing deals.
Personal Contract Purchase
Personal contract purchase or PCP, is available to personal leasing customers. PCP provides a new or used vehicle, normally for 24 – 48 months. Like contract hire, the contract has an upfront payment, usually 3 months, followed by fixed payments every month, with a pre-agreed mileage. At the end of the contract period there is a “guaranteed future value”, that gives you option of paying to take ownership of the vehicle, or you can hand back the car without penalty.
Non Status/Sub Prime Contracts
This type of finance is available for businesses or individuals that have experienced credit problems in the past. Initial payments are typically 4 or 6 times the monthly rental (instead of the normal 3 upfront). We can help people source a bad credit leasing deal or find non status car finance for business & personal use.
Lease Purchase
Lease Purchase is essentially Hire Purchase with a balloon payment at the end of the contract. Lease Purchase offers lower monthly payments than normal hire purchase. Instead, at the end of the agreement, you can make a final lump sum payment (or ‘balloon’) to own your car.
It’s fixed rate finance – but with a lower fixed monthly outlay since you defer repayment of some of the borrowing. At the end of the agreement options include car purchase, refinance, part exchange or resale.
The deposit you pay is flexible – from as little as £99. The remaining balance, plus fixed interest, is repaid in equal instalments over an agreed period (12-60 months) plus a final balloon payment.
Hire Purchase
Hire purchase is a simple, straightforward way to spread the cost of buying a new car. It is fixed rate finance – with a fixed monthly payment. The deposit you pay is flexible – from as little as £99. The remaining balance, plus fixed interest, is repaid in equal instalments over an agreed period (12-60 months).