AutoEase -

Personal Contract Purchase (PCP)

For private individuals who want a hassle free and cost effective way to finance and maintain a vehicle. Consultation and assessment of your requirements may reveal that personal leasing is the ideal financing solution for your business and personal needs. The finance company allows you to enjoy significant tax advantages and a choice of a new or nearly new vehicle every two or three years in return for a fixed monthly charge that is easy to budget for, as well as an all-inclusive (optional) maintenance and breakdown package.

The Benefits of Personal Contract Purchase:

Road fund license included for the full contract length

Optional ownership

Optional relief vehicle

Optional final payment

Low initial outlay

Flexible deposits

Fixed monthly payments

Optional maintenance contract

Please see attached chart which gives you an overview of product features. However please feel free to contact us to obtain further in depth information.

	Contract Hire	Contract Purchase	Hire/Lease Purchase	Finance Lease	PCH/PCP	Outright Purchase
Accurate monthly budgeting	X	X	X	X	X
Improved cash flow	X	X	X	X	X
Low Deposit	X	X		X	X
Fixed interest rates	X	X	X	X	X	n/a
Capital allowances available		X	X		n/a	X
Ownership of vehicle		Optional	X		Optional	X
VAT recoverable on rentals	X (1)			X (1)
VAT recovered by lease company to reduce rental	X			X
No depreciation risks	X	X			X
Note 1: Only 50% of the VAT relating to the finance element is recoverable if there is private use of the vehicle. If the vehicle is only used for business purposes 100% of the service element VAT is recoverable on contract hire only.

PCH/PCP

Accurate monthly budgeting

Improved cash flow

Low Deposit

Fixed interest rates

n/a

Capital allowances available

n/a

Ownership of vehicle

Optional

Optional

VAT recoverable on rentals

X (1)

VAT recovered by lease company to reduce rental

No depreciation risks

Note 1: Only 50% of the VAT relating to the finance element is recoverable if there is private use of the vehicle. If the vehicle is only used for business purposes 100% of the service element VAT is recoverable on contract hire only.

Running the Vehicle

	Contract Hire	Contract Purchase	Hire/Lease Purchase	Finance Lease	PCH/PCP	Outright Purchase
Vehicle disposal	X	X			X
Reduced administration	X	X	Optional	Optional	X	Optional
Road fund licence provided	X	X			X (2)
Breakdown cover	Optional	Optional	Optional	Optional	Optional	Optional
Relief vehicle	Optional	Optional			Optional
Fixed charge maintenance	Optional	Optional			Optional
Payment Protection	Optional	Optional	Optional	Optional	Optional
VAT recoverable on services	X	X			X (2)	X
Optional GAP insurance	X	X	X	X	X
Note 2: Road fund licence is provided for the first year only.

PCH/PCP

Vehicle disposal

Reduced administration

Optional

Road fund licence provided

X (2)

Breakdown cover