Personal ontract Hire (PCH) and Business Contract Hire (BCH) both generally know as Leasing are long-term hirte agreement, usually over 2, 3 or 4 years. An Initial payment is paid as the first months payment which can be as little as one months payment or as much as you choose, with the remaining payments of the duration of the contract remaining fixed. Once the agreement ends, you do not own the vehcile and it is returned to the funder. You are then free to take another lease. Essentially, when Leasing a car you are paying for the depreciation of the vehcile for the agreed term that you ahve the vehcile.
Main Highlights of Leasing
✔️ A smaller upfront cost or initial payment compared to Hire Purchase (HP) or Personal Contract Purchase (PCP)
✔️ Monthly payments are typically lower than other forms of car finance
✔️ Fixed monthly payments
✔️ Road Tax is included for the duration of the lease agreement
Main Highlights of Personal Contract Purchase (PCP)
✔️ You can choose to purchase the vehicle at the end of the contract
✔️ If the vehcile is worht more at the end of the contract the GFV estimated at the start of the contract, the profit an be used against your next vehcile
✔️ Fixed monthly payments
✔️ A smaller deposit is required when comapred to a standard loan of Hire Purchase (HP) agreement
Main Highlights of Hire Purchase (HP)
✔️ You own the vehcile once the final monthly payment is made
✔️ There is no need to factor in a mileage allowance
Main Highlights of a Loan
✔️ You own the vehcile and are free to sell it at any time (it is always sensible to check with the lender first)
✔️ The is more flexibility with repaying the loan for making overpayments or lump sum payments or even paying it off in full before the end of the term
Yes, we work with a panel of lenders, many of which will fund your car even if you ahve bad credit. This will usually mean that your PCP or HP agreement will have a higher APR. In most cases we can find a lender a lender who will provide you with finance for your car.
Yes, you do need to have a clean credit history to be approved for a lease. Leasing is subject to status and is not appropriate if you have any form of adverse credit.
All the offers on VU Compare are unique to to the leasing broker or provider who has advertised the offer. When you complete an enquiry form, your detaisl are passed to the lease broker or lease provdier who has advertised that specific lease deal and they will contact you as early as is possible to confrim the details of the offer with you and help you secure the vehcile you are looking for.
VU Comapre are very selective about the partners we allow to advertise on our platfrom. We ensure that all lease brokers and lease providers have the necessary licences to offer the servcies they advertise and provide the best possible customer servcie. We are strong believers in putting the customer first and do our utmost to ensure that you, the customer, are alsways treated fairly. If for any reason you feel you ahve not been provided the level of servcie you should expect from any partner of VU Compare, please let us know by emailing us here email VU Compare
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