If i decided to lease a pick-up for 2 - 3 years depending on price, is there an option at the end of the lease to buy the pick-up or do i have to start the lease again with another vehicle?
Our expert Richard answered...
Hello Kevin, thanks for your question. The answer is yes, there is an option to buy the vehicle after the lease is up. We can offer two different leasing options for personal. Below, I have written a brief description of both the terms we offer:
Personal Contract Hire (PCH) is a perfect product for an individual who wants fixed cost motoring and is confident about the mileage and condition of the vehicle over a set period of time. It is an easy and cost-effective way to fund vehicles and it enables you to control one of your biggest expenses. PCH is available with or without a maintenance package, which offers fixed cost motoring with no hidden extras. Personal Contract Hire is similar to Business Contract Hire. However, as an individual, you will not be able to recover any VAT or take advantage of any tax allowances.
Personal Contract Purchase (PCP) is fast becoming one of the most popular ways of financing the new vehicle of your choice, simply due to its flexibility. You choose the car, the deposit, how long you want the contract to run for and the mileage you intend to do. In return, you get fixed cost motoring for the term of the contract. At the end of the contract you have a choice to either buy the car outright for an agreed lump sum (the minimum guaranteed future value), part exchange the car and use the equity you have built up as the deposit on another new car, or hand the vehicle back to the lender and walk away without owing anybody anything (subject to the mileage and condition of the vehicle at this time).
If you'd like to discuss this further please call us on 01442 838 195. Alternatively, please let us know the best contact number for you and I will arrange for one of our specialists to call you. Kind regards, Richard Wells.
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