Personal Contract Plan
Personal Contract Plan may be considered to offer the benefits of both Contract Hire and Hire purchase to an individual.
As with all schemes, you pay an initial deposit followed by regular monthly payments.
At the end of the scheme period you can:
- pay an agreed final payment & take ownership of the car
- or simply send the car back.
Because there is no vat involved on payments, this scheme allows a private individual to obtain full fleet discount on the purchase of the car, which in turn means a lower deposit and lower monthly payments than hire purchase.
Maintenance can also be included in the contract |