Finance Options - 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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