Contract Purchase
Contract
Purchase offers the company accurate monthly budgeting and cash
flow, minimum capital expenditure, ownership of the asset and a
fixed interest rate. Like contract hire the contract term, mileage,
maintenance if desired and monthly rental are agreed at the start
of the contract along with a guaranteed future purchase price for
the vehicle.
At the end of the contract ownership can be retained by paying the
agreed purchase price or like contract hire the vehicle can be handed
back with nothing further to pay unless the agreed contract mileage
has been exceeded. The vehicle should also meet with condition guidelines.
Contract purchase is particularly beneficial to companies running
high value vehicles, wanting the option to purchase without the
depreciation risks.
Key Benefits:
- Fixed term rental over an agreed period to suit your requirements
- Eventual ownership after final payment is made
- Ideal for VAT registered business (see below)
- The vehicle(s) are on the business balance sheet
- We arrange delivery and collection of the vehicle(s)
Contract purchase is particularly attractive to business
customers who are unable to fully reclaim VAT. Vehicles acquired
using the contract purchase method of finance appear on the company's
balance sheet as assets.
We can also include GAP insurance
should your vehicle be stolen or 'written off'.
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