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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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A Finance Lease is an ideal finance agreement if you want to retain the vehicle as an asset on your balance sheet. You can choose a finance lease for any make or model vehicle. A finance lease is normally taken over a three or four year period, with three monthly rentals paid prior to the contract start. With a finance lease you can pay the entire cost over the agreed lease period or pay lower monthly rentals with a final payment based on the anticipated resale value of the vehicle. This is referred to as a 'residual value' or 'balloon payment'. With a Finance Lease you pay for your own maintenance and upkeep of the vehicle. However you can add a maintenance package for an additional monthly rental. |
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Contract hire
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