Personal Contract Purchase
Personal Contract Purchase and how it works ?
Similar to a finance lease with a few differences. There is a balloon payment at the end of the contract but you can own the vehicle if you wish. You will be given a guaranteed future value (GFV) at the begining of the contract whicj is based on the total mileage at the end of the agreement.
Key Benefits:
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Low Deposit
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Additional credit line
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Repayments are vat inclusive
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Fixed monthly payment
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Option to own the vehicle
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Guaranteed future value
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Shown as an asset
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No disposal issues
A simple way to finance but beware as an early settlement will be very expensive.
