Personal Contract Hire (Regulated)
For the private individual the more traditional methods of buying cars i.e. hire purchase, bank loan or from savings are becoming less and less attractive as more sophisticated and cost effective methods become available.
In addition, many companies are choosing to give their current company car drivers "cash" instead of a company car, to allow them to make their own arrangements, and therefore avoid benefit in kind taxation.
Personal Contract Hire gives the user a fixed equal monthly rental for a fixed contract term. At the end of the contract term you hand the car back and take delivery of a new one. No need to sell the vehicle privately or worry about its value. Personal Contract Hire arrangements can also include a full maintenance package as part of the monthly rental. This provides full cover for all maintenance requirements from regular services, tyre replacements to more involved mechanical repairs. Because maintenance cover is provided as a fixed cost as part of the monthly rental, it removes the risk of unforeseen breakdowns and large repair bills.
Personal Contract Hire delivers a no hassle solution to running a car and as the costs are fixed and equal, it allows you to budget exactly for your car spend.
Benefits of Personal Contract Hire at a Glance:
- Fixed Monthly payments. No need for a lump sum (Balloon Payment) at the end of contract.
- Reduced Monthly Payments due to Guaranteed Corporate residual values.
- No lump sum showing on a Credit Search.
- No disposal worries at the end of the contract.
- Minimal Deposit necessary 1- 3 Monthly payments subject to credit status.
Contract Hire (Non-Regulated)
Contract Hire is available to all your Limited Customer Businesses and gives the advantage of having all your Company fleet vehicle administration handled without any of the headaches. Perhaps even more important, in these times of falling residual values, contract hire gives your customers complete peace of mind that the company is not exposed to this risk.
No matter how large or small a fleet your customer runs you will get the full advantage of the extremely attractive discounts we are able to negotiate. Alpha Leasing takes care of the purchasing, servicing and disposal of vehicles leaving your customer free to do what they do best - running their business. They decide on the vehicles they want, the contract period and number of miles expected per year.
Corporate Contract Hire (Non-Regulated)
Corporate Contract Hire can be provided either with or without maintenance and for a variety of payment plans including spread rentals, where the initial 3 payments in advance are 'spread' over the life of the contract and a further 35 monthly payments are made. Our range of additional services is designed to simplify and enhance the lives of both the fleet buyer and the driver. Call our dedicated Quoteline to request quotations for rentals.
An added benefit of Contract Hire is the ability to reclaim 100% of the VAT on the service element and 50% of the VAT on the finance rental element, provided you are registered for VAT.
Personal Contract Purchase (Regulated)
This could offer a lower cost and more flexible alternative to other finance packages. The PCP also offers much greater flexibility and at the end of the term the driver can choose from these options:
- Return The Car - When the Contract Term comes to an end, the driver can advise us and simply return the car with nothing else to pay, subject to it being in a reasonable condition. The advantage of this approach is that there is no need to pay the "Final Optional Payment". Where a vehicle is returned in a condition that is considered by us to be below the anticipated standard for age and mileage, charSges may be applied to bring the vehicle to the required condition.
- Keep The Car - Again, this option has its own advantages. The driver will own the car outright once they have paid the Final Optional Payment.
Benefits Of Personal Contract Purchase at a Glance:
- Fixed Monthly payments.
- Option to Purchase at the end of contract.
- Minimal Deposit necessary 1-3 Monthly payments subject to credit status.
- Ability to increase deposit to reduce monthly payments.
- Flexible contract terms with & without maintenance.