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| Contract Hire | Personal contract Hire | Finance Lease | ||||||||||||
| Contract Hire Overview | PCH Overview | Finance Lease Overview | ||||||||||||
| Benefits | Benefits | Benefits | ||||||||||||
| Tax implications | Tax implications | Tax implications | ||||||||||||
| Contract Hire includes | PCH includes | Finance Lease includes | ||||||||||||
| Contract Hire Agreements | PCH Agreements | Finance Lease Agreements | ||||||||||||
| Used vehicle contract Hire | Used vehicle PCH | Used vehicle Finance Lease | ||||||||||||
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Finance Lease Length A Finance lease will have a fixed monthly rental and a pre-determined residual value. This can be zero or a value based on the predicted resale value. In most cases three rentals are required at the beginning of the finance lease and the lease will be three or four years. At the end of the finance lease period the vehicle can be sold. As the depreciation risk is with the lessee they gain if the vehicle is sold for more than the agreed residual value. Equally if it is sold for less the loss will be down to the hire not the car leasing company. |
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Motor car finance options
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