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Niche Automotive Contracts Explained

There are many types of funding options available to the Business & Personal sector.
The choice of which one is right for you depends upon a wide variety of factors. In the text below,
we explain some of the key differences between the main types of funding available.

Please remember though, this is for guidance purposes only and we'll be happy to take you through things in more detail, so please don't hesitate to contact one of our new business advisors should
you have any queries? or require any advice or assistance. Assuring you our best
attention at all times.

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Contract Hire
A popular choice for VAT registered companies that want minimum outlay and maximum control of costs, especially when maintenance and relief costs can be included.

One regular payment covers all risks including cost of depreciation and disposal for a pre-agreed period, 12 to 60 months and an agreed annual mileage of up to 40,000 miles. Road fund licence is included but a full maintenance package is optional and can be tailored to your needs.

- Additional credit line
- Vat - 50% can be reclaimed on cars & 100% reclaimed on commercials
- 100% claimable on the maintenance element of the vehicle should you choose this
- Not recorded on the Balance sheet, but recorded on the notes to the audited accounts
- Fixed motoring with maintenance optional
- No worries about disposal or depreciation
- Hire rental tax allowances apply
- Depending on the value of the vehicle a sufficent amount can be offset against tax & profits.


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Personal Contract Hire
Personal Contract Hire delivers all the benefits of a company car to the private individual. Personal Contract hire gives the user a fixed monthly rental for a fixed contract term.

At the end of the contract term you hand the car back to the finance company, no need to sell the
vehicle privately or worry about its re - sale value.

- Low initial outlay
- Flexible deposit
- Choice of rental period
- No final payment
- Fixed monthly rentals
- Optional maintenance contract
- No disposal problems
- Optional relief vehicle
- Road fund licence included for the full contract length
- No residual risk

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Personal Contract Purchase
A variation of lease purchase, but the “Balloon” deferred payment is guaranteed (GFV - Guaranteed Future Value) and you have the option to own at the end of the contract or return the vehicle.

- Low deposit
- Fixed monthly payments
- Option to own the vehicle
- GFV - Guaranteed Future Value payment   leads to lower monthly repayments
- More vehicles at your disposal compared   to Hire Purchase repayments
- No disposal problems or “balloon”   payment risk
- Excellent option for individuals who have   opted out of a company car
- Option to re-finance GFV payment at the   end of the contract.



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