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FINANCE
- CASH FOR CARS - DRIVERS |
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Introduction
Again, ideal for those
that wish to enjoy the benefits of upgrading
their car on a regular basis but do not
wish to bear the risk of depreciation nor
the issues of disposal.
Personal Contract
Hire (PCH’s) offers you a long-term
daily rental plan without ownership of the
vehicle.
How it works
Initial rental is
paid on delivery, and monthly rentals are
payable over an agreed period. At the end
of the agreement, which is usually two or
three years, you simply hand the vehicle
back.
Benefits
• Low monthly
repayments, as the contract hire company
can reclaim the VAT.
• Leaves savings and bank credit line
intact
• New car every two or three years
• No disposal hassles
• Can incorporate maintenance for
trouble free motoring
• Fixed motoring costs for easy budgeting
Disadvantages
• Rigid
mileage limits
• Penalties for poor vehicle condition
& excessive mileage
• No ownership at end of term
• Penalties for early termination
of contract
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