Hire Purchase (HP)
If ownership is a priority then Hire Purchase is one of the most cost effective and commonly used methods of funding by private individuals and businesses (including sole traders, partnerships and limited companies) to fund vehicle purchases. With hire purchase, the customer normally pays a deposit which is then deducted from the purchase price and the balance is financed and spread over a pre-determined term with interest calculated and added on top. At the end of the hire purchase agreement, the vehicle is owned outright.
Personal Contract Purchase (PCP)
Personal Contract Purchase gives you all the benefits of Hire Purchase (ie. ownership of the vehicle) with all the benefits of Contract Hire (ie. no risk). The finance company gives you a guaranteed future value (GFV) so, at the end of the agreement, you can either:-
By including Optional Purchase Payment equal to the GFV, we can reduce your monthly payments.
Other features and benefits of Personal Contract Purchase include:-
Contract or Lease Purchase
Structured similar to and with all the benefits of Personal Contract Purchase but for businesses, Contract or Lease Purchase is an on balance sheet method of car leasing where you can purchase the vehicle at the end of the agreement by making a balloon payment.
Additional features and benefits of Contract or Lease Purchase include:-
All Motorhound and Vehicle Strategies’ clients receive access to our unique vehicle and driver management software
We are not a faceless internet company, we'd love to discuss your requirements, offer advice and answer any questions you may have regarding the purchasing your next car. We can help you get finance, arrange insurance and even manage your fleet! Call us on 01202 392141 or 07576 353636