Leasing

Personal Contract Purchase

PCP is specially designed to put your next car on the road at a monthly cost that could be less than you’d pay on the equivalent Hire Purchase agreement. How it works

• You decide the initial deposit you want to pay. If you have a part exchange its value may be enough to provide some or all of your deposit.
• You estimate your annual mileage.
• Decide whether you want to spread the agreement over two, three or four years.
• The future value of your car at the end of the agreement is guaranteed.
• The future value of the car is deducted from the purchase price and the monthly payments are based on that lower figure, plus interest.
• This why the monthly payments in a PCP can be so attractive.

At the end of the agreement you have three options: 1. Change your car for another new one, subject to status. 2. Pay the Optional Final Payment (equal to the agreed future value) and the car is yours. Simply return the car and owe nothing (provided it is returned in good condition for its age and mileage)

Hire Purchase

How it works

• You decide the initial deposit you want to pay. If you have a part exchange its value may be enough to provide some or all of your deposit.
• Your monthly payments are based on our special price less your chosen deposit, plus interest on your finance.
• You can choose to spread your agreement over one, two, three or four years. Generally, the longer the term the lower your monthly payments will be.
• At the end of your agreement you can take ownership of the vehicle on payment of a small option to purchase free.

Contract Hire

A way to put vehicles on the road in a cash flow-friendly way, giving you high levels of control over costs by helping you to avoid all risks of depreciation and disposal.?Typical contracts last for three years.

How it Works

• You decide on the exact specification of the vehicle(s) you want and estimate the mileage you will cover over the contract period.
• At the beginning of the agreement we calculate the likely value of the vehicle after three years based on the mileage you tell us.
• The residual value is subtracted from the price of the vehicle and the rental payments are based on this lower figure.?In other words, with Contract Hire you pay only the proportion of the vehicle's value you use during your contract.

Enjoy the cash flow benefits

• The monthly outlay is lower on Contract Hire than it would be to acquire the same vehicle using Hire Purchase.
• Autohorn Contract Hire & Leasing are particularly competitive because we are able to source vehicles direct from manufacturers at up to 30% list prices.?Savings we make are used to reduce our Contract Hire quotes wherever possible.
• You can drive away a Contract Hire vehicle by paying just three rentals in advance - leaving more of your cash in the bank.

Puts you more in control

• Because your rentals are fixed you'll know your costs in advance, giving you better financial control.
• By including servicing & maintenance in your monthly rental your costs will be under even greater control.
• The funder takes all the risk on depreciation of the vehicle and responsibility for its disposal.

Balance sheet-friendly

• Contract Hire agreements don't appear on your balance sheet, which many businesses consider an advantage.
• VAT is chargeable on your monthly rentals.?You can normally claim 50% of this back on cars and 100% on commercial vehicles (subject to confirmation by your professional advisors).