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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.

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.

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Car leasing systems by CALAS