So you've chosen to 'lease' your next vehicle. This can be a somewhat grey area as there are different ways to do this.
Below are the details on a hugely popular method of financing your new car without having to fund the entire the vehicle - The Personal Contract Purchase.
Firstly be careful with terminology as a PCP can be 'sold' as a purchase OR a lease dependent on the customers stated preference to the sales person. We regularly hear from people who 'decided to buy' but have somehow been persuaded a PCP is ownership. They won't own the car unless they buy the car at the end of the contract. My job is to ensure you understand what is often the 2nd biggest expense in your household after the mortgage and how it all works.
Our opinion is that unless you turn up with cash or cheque you are financing the car in some way.
PCP's give the customer the benefits of leasing a vehicle along with the option to own it if they so desire.
Customer are able to upgrade to vehicles that might otherwise be unaffordable.
A guaranteed residual value is set by the leasing company at the start of the contract, which gives the customer a number of options by the end, some of which are:
Key customer benefits:
Anthony K are one an accredited franchisee of 'Network Vehicles part of LeasePlan UK'. In addition we have just launched a new range of PCP funding partners to ensure you get the best rates available.
Contact us for more information on 0161 655 3200
