Personal Contract Purchase (PCP):
Similar to Hire Purchase - with the added advantage of a
guaranteed future value on the vehicle (GFV) at the end of the
period. PCP is for private individuals who want the option of
eventual ownership coupled with the security and peace of mind of
the Finance Company guaranteeing the vehicles value (subject to
normal wear and tear and an agreed mileage) at the end of the
period.
A low initial deposit is payable, followed by a fixed
monthly payment for the period of the loan. At the end of the
agreement the guaranteed future value (GFV) becomes relevant and
there are 3 end of contract options:
The vehicle may be owned by paying the guaranteed future
value. This value is fixed at the
start of the agreement and will be as stated on the original
documentation.
The car can be handed back to the Hippo
Finance Company and another car chosen and funded through
European Finance, subject to the vehicle meeting the conditions
in the agreement. 3. The vehicle may be part exchanged against a
new vehicle using any equity, the difference between the cars
trade in value and the guaranteed future value, as deposit.
You enter into an agreement with Hippo
Leasing Finance for over a fixed period at a fixed
instalment. Upon payment of the final instalment the vehicle
becomes yours. A balloon payment can be incorporated as can low
deposits.
The Benefits of Hire Purchase:
An alternative funding line to bank overdrafts.
Ownership at the end of the contract
Low initial outlay
Flexible contract
Interest reclaimable against tax
Writing down allowance
Fixed monthly cost
Business capital not tied up in a depreciating asset
For non-VAT – registered companies and private individuals that
want eventual ownership of the vehicle. A funding agreement where
the company or individual acquires ownership when all payments,
including the purchase payment have been made.
Part of the capital cost of the vehicle payment may be deferred
into a Balloon Payment at the end of the agreement, which equates
to the anticipated market value of the vehicle at the end of the
agreed leasing period.
The benefits of Lease Purchase:
Fixed monthly cost
Ownership at the end of the lease
Flexible contract
Balloon Payment
Low initial outlay
Business capital not tied up in a depreciating asset
Finance not subject to VAT
Interest reclaimable against tax
Writing down allowance
Personal Contract Hire
Personal Contract Hire also known as private car leasing or
personal car leasing is a very popular car leasing option for
ex-company car drivers or for private individuals, with or without
car allowance.
If you have a car
allowance or not, personal contract hire offers a fixed price
risk free motoring, with no pre-set option to purchase.
Personal Car Leasing
is cheaper than hiring or taking a personal loan.
This is an
option where you lease the car in your name and not in the
company's that you are working for. With this option you will
have to return the vehicle at the end of the lease and lease
another if you need to.
You can claim at least 40 pence for every mile you drive from HMRC
(Her Majesty's Revenue and Customs) for the fist 10,000 miles
and 25 pence for over 10,000 miles.
That means you could deduct at least £4,000 pounds from your
annual income.
Do check with your accountant what you may or may not deduct or visit
HMRC Cars
and make your own calculations.
Personal Contract Purchase
Personal Contract Purchase car leasing is a method of personal car
finance which offers a guaranteed optional purchase price for the
vehicle at the end of the contract. You may or may not buy the
car, it is really up to you.
Personal Lease Purchase
Lease Purchase is a method of motor finance which is best suited
for the finance of prestige vehicles, like BMW's, Mercedes,
Porsche and where there is a potential and significant benefit in
taking on the responsibility of the residual value of the vehicle
and the end of the lease.
Personal Contract Options (PC)
Whether you choose the Personal Contract Hire option or Personal
Contract Purchase option, it is your choice of a contract which
may or may not include a maintenance agreement and will differ in
cost depending upon the two main criteria, the anticipated mileage
you are going to clock up on the vehicle and the length of hire.
Price Promise Car Leasing
One thing that makes us unique is that not only do we work alongside some of the worlds biggest banks and finance houses, we also source and purchase vehicles ourselves in bulk so that we can command the BIGGEST DISCOUNTS and pass them on to you to.
You don’t even need to be looking to finance the vehicle. Due to the massive discounts we receive, we can offer some amazing cash prices on vehicles as well!
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New & Approved Used Car Leasing
Time4Leasing is
a trading style of White Hat Projects Ltd and is authorised and regulated by the
Financial Conduct Authority. FRN 768203. Company number 07764808.
We are a credit
broker and not a lender and can introduce you to a limited number of businesses
who also act as credit brokers and may introduce you to a limited number of
lenders. Subject to status and to UK residents only (excl. the Channel Islands).
Individuals must be 18 or over. Guarantees and indemnities may be required. We
typically receive a fixed commission calculated by reference to the vehicle
model, product or amount you borrow, for introducing you to a credit broker but
this does not affect the interest charged on the agreement, all of which are set
by the lender.
We endeavour to
ensure that all information including the specifications and finance
availability are accurate. Whilst we make every effort to display correct
information we are aware that errors may occur occasionally. We are not able,
therefore, to guarantee the accuracy of all information especially when given to
us by third parties. If you do require clarification of some information you
have seen on our website, please email us at support@time4leasing.co.uk. This
does not affect your statutory rights.
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us
Our Registered
Office is 115-119 Fort Dunlop, Fort Parkway, B24 9FE, England, United Kingdom.
When completing
an application on this site we will automatically check your eligibility across
a range of finance and leasing products to provide you with the best selection
of options that we can.
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