Contract Purchase provides the same operational benefits of Contract Hire, with the main difference being that the vehicle is on the balance sheet.
In the same way as in Contract Hire the terms of the contract are based on age and mileage, which in turn will establish the residual value or balloon payment. This figure represents the provider's opinion of what the vehicle's value will be at the end of the agreement.
Again, as with Contract Hire, you have a low deposit and an attractive monthly rental with the option of a maintenance package. Contract Purchase is available for both new and used cars (up to four years old). At the end of the agreement you have two main options.
Your monthly payments are allowable against tax. You are also allowed to reclaim VAT on the maintenance element. This contract is ideal for people wanting to opt out of the company car scheme as you can utilise your company car allowance to settle your Contract Purchase payments without having to pay company car tax.
Benefits of Contract Purchase:
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
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