Personal Leasing

By choosing personal leasing, you enjoy greater buying power without increasing your monthly repayments. You can even include maintenance and servicing for total peace of mind.

Types of personal leasing include:

Personal Contract Hire

A relatively new product aimed mainly at the increasing number of people with a car allowance from their employer. A straight forward long term rental agreement where the customer bears no depreciation or disposal risk. Fixed terms and a wide range of annual mileages with the benefit of the buying power of the finance company and reduced rentals based on the portion of the cars life used by the hirer.

Personal Contract Purchase

Personal Contract Purchase provides a more flexible way of owning a new car every two or three years. Based on an agreed annual mileage, the value of the vehicle at the end of the contract is set and guaranteed by the finance company. This reduces the monthly rental as you are only paying for the portion of the cars life that you are going to use.

At the end of the contract you have three options:

• Trade the car in as part exchange against a new one
• Pay the final Optional payment and own the car, or
• Return the vehicle to the finance company (subject to the vehicles condition and mileage).

Lease Purchase

Used mainly for the purchase of cars but is not as popular as it used to be. Still used by non V.A.T. registered businesses and sole traders who need to "own" the vehicle. Lease Purchase allows the purchaser to have a "balloon" payment at the end of the contract thus reducing the monthly payments.

As used car values have fallen this product is less attractive than it used to be. Lease Purchase benefits include:

• Improved cash flow
• Accurate budgeting
• Capital write down allowances
• On balance sheet funding and improved business asset value

In addition we can provide "balloon" payment refinancing.