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Leasing Guide
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We are an appointed broker of Lombard North Central PLC
Who can benefit from Personal Contract Purchase?
Personal Contract Purchase is for those who want to have a car allowance instead of the company car.
It is a good option for individuals who would like a car but cannot afford to buy one outright and want the option top be able to buy the car at the end of the contract.
It is a good option for individuals who would like a car but cannot afford to buy one outright and want the option top be able to buy the car at the end of the contract.
At the Car Leasing Centre we like to give you different options, Personal Contract Purchase is really a lease purchase agreement where the customer has the option at the end of the agreement to either return the vehicle or pay the agreed balloon payment and keep or sell the vehicle, and keep the profits over and above the assured minimum projected cost.
FEATURES
Personal Contract Purchase is really a lease purchase agreement where the customer has the option at the end of the agreement to either return the vehicle or pay the agreed balloon payment and keep or sell the vehicle.
The balloon payment relates to the anticipated future value of the vehicle, the future value is based on the mileage set for the contract at the start.
Personal Contract Purchase is really a lease purchase agreement where the customer has the option at the end of the agreement to either return the vehicle or pay the agreed balloon payment and keep or sell the vehicle.
The balloon payment relates to the anticipated future value of the vehicle, the future value is based on the mileage set for the contract at the start.
Advantages:
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Low initial outlay.
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Customer has the option to either purchase or return the vehicle at the end of the contract.
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Disadvantages:
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Personal Contract Purchase is not as tax effective compared with Personal Contract Hire and is usually more expensive.
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Summary:
Personal Contract Purchase is becoming more and more popular with employees, constantly looking at their tax liabilities in relation to company motor cars
Personal Contract Purchase is becoming more and more popular with employees, constantly looking at their tax liabilities in relation to company motor cars
