Personal Contract Purchase.

A Personal Contract Purchase is a conditional sale agreement where the customer agrees to purchase the vehicle in return for making a number of fixed payments. The typical payment profile is a small deposit (Equivalent to 3 monthly payments) followed by a fixed number of monthly payments, over 24-48 months, with a final balloon payment based on the anticipated future value of the vehicle. What distinguishes a Personal Contract Purchase from a Lease Purchase is that the funder guarantees to purchase the vehicle back from the customer at the amount of the final balloon payment (Hence these final payments are often referred to as ‘Guaranteed Future Value’ or ‘Option to Purchase’)

The basic Contract includes sourcing the vehicle, road fund licence, the benefit of any warranty and breakdown cover supplied by the Manufacturer and collection of the vehicle at the end of the contract and waiver of the final payment should the customer decide not to exercise their option to purchase.

Maintenance and other ancillaries can be added if required.

 Key Benefits:      

Low Deposit if required
Fixed monthly cost and accurate budgeting
Guaranteed future value and therefore no depreciation risk
Sourcing, disposal and administration handled for you
Fixed cost maintenance packages available
Option to own the vehicle at the end of the contract.

 Personal Contract Purchase is an ideal way for a private individual to fund a vehicle.