I would like to lease a van and use it as a car, not for business use. Is this something you can cater for i.e. would it be as simple as adding the VAT to the leasing figures? I would be looking for a Ford Transit Connect Limited with the more powerful engine. Thanks.
Our expert Richard answered...
Hi Chris, thanks for your question. We can offer 2 different leasing options for personal. I have below 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 vehicle, 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 vehicle outright for an agreed lump sum (the minimum guaranteed future value), part exchange the vehicle and use the equity you have built up as the deposit on another new vehicle, 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 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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