Balance Payments (BP)

A Balanced Payment Plan offers the benefits of a fixed monthly payment, however unlike traditional Hire Purchase, where the interest is fixed, Balanced Payments tracks the changes in the finance house base rate, LIBOR or bank base, depending on the agreement. As rates fall or rise over the period of the contract, so does the interest charges you pay.

How does it work? You pay an initial deposit and pay the balance in fixed monthly installments over an agreed term (12-60 months). At the end of the term any variation of interest is reconciled and will be settled as either a credit to you, or a charge.

*KEY BENEFITS*

Flexible Low Deposit
Fixed Monthly Payments
VAT Free Optional Balloon Payments
Potential savings if interest rates fall

Lease Purchase (LP)


For Personal or non-VAT registered companies who want eventual ownership of the vehicle, ownership is aquired when all the payments have been made.

Lease purchase is a form of Hire purchase, and part of the capital cost can be deferred until the end of the contract. The “Balloon” deferred Payment should equate to the anticipated re-sale of the vehicle when the contract finishes.

*KEY BENEFITS*

- Fixed monthly payments
- Outright ownership on payment of “Balloon” deferred payment
- “Balloon” payment reduces your monthly rentals
- Greater flexibility at the end of the contract

Personal Contract Purchase (PCP)

A variation of lease purchase, but the “Balloon” deferred payment is guaranteed (GFV - Guaranteed Future Value) and you have the option to own at the end of the contract or return the vehicle.

*KEY BENEFITS*

- Low deposit
- Fixed monthly payments
- Option to own the vehicle
- GFV - Guaranteed Future Value payment leads to lower monthly repayments
- More vehicles at your disposal compared to Hire Purchase repayments
- No disposal problems or “balloon” payment risk
- Excellent option for individuals who have opted out of a company car
- Option to re-finance GFV payment at the end of the contract.

Hire Purchase (HP)

The oldest and most traditional method of acquiring a vehicle, other than outright purchase, where you repay the capital cost of the vehicle plus interest over a set period.

*KEY BENEFITS*

- Fixed monthly repayments
- Fixed interest rate
- Keeps savings intact
- Outright ownership
- Consumer Credit Act protection

Out Right Purchase (ORP)

Simply purchase the vehicle and have it delivered to your door.

*KEY BENEFITS*

- Allows you to benefit from the great discounts we can obtain on your behalf