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Finance Informations |
We are able to arrange
finance at very competitive rates through major lending companies.
HIRE PURCHASE
Traditional way of financing vehicles. A deposit is taken, the balance
attracting interest and being repaid over an agreed period of time
by way of monthly installments.
LEASE PURCHASE
Similar to Hire Purchase, but with a large final payment, thereby
reducing the monthly repayments. At the end of the agreement, the
final payment can be repaid in full, or the vehicle traded in and
any equity used as a deposit for another vehicle.
CONTRACT PURCHASE /PERSONAL CONTRACT PURCHASE
Similar to Lease Purchase, but the final payment is guaranteed by
the finance company. The guaranteed future value is based upon factors
such as mileage recorded, and can be paid in full at the end of the
agreement or the vehicle part exchanged and any excess used as a deposit
for a new vehicle.
LEASE
On balance sheet funding; suitable for VAT registered organisations as they
can generally reclaim half of the VAT on the repayments. At the
end of the primary term, the vehicle can be sold and the company retains
by far the majority of the sales proceeds.
CONTRACT HIRE
Off balance sheet funding; essentially a contract to hire a vehicle
over a given period of time, which may incorporate items such as servicing,
maintenance, etc.
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