Personal Finance

Drive Wise (PCP)
For private individuals who want a hassle free and cost effective way to finance and maintain a vehicle. Consultation and assessment of your requirements may reveal that personal leasing is the ideal financing solution for your business and personal needs. The finance company allows you to enjoy significant tax advantages and a choice of a new or nearly new vehicle every two or three years in return for a fixed monthly charge that is easy to budget for, as well as an all-inclusive (optional) maintenance and breakdown package.

The Benefits of Drivewise

• Road fund licence included for the full contract length
• Optional ownership
• Optional relief vehicle
• Optional final payment
  
• Low initial outlay
  
• Flexible deposits
  
• Fixed monthly payments
  
• Optional maintenance contract

Hire Purchase
You enter into an agreement over a fixed period at a fixed instalment. Upon payment of the final instalment the vehicle becomes yours. A balloon payment can be incorporated as can low deposits.

The Benefits of Hire Purchase:

• An alternative funding line to bank overdrafts.
  
• Ownership at the end of the contract
  
• Low initial outlay
  
• Flexible contract
  
• Interest reclaimable against tax
  
• Writing down allowance
  
• Fixed monthly cost
  
• Business capital not tied up in a depreciating asset
  

Lease Purchase
For non-VAT – registered companies and private individuals that want eventual ownership of the vehicle. A funding agreement where the company or individual acquires ownership when all payments, including the purchase payment have been made. Part of the capital cost of the vehicle payment may be deferred into a Balloon Payment at the end of the agreement, which equates to the anticipated market value of the vehicle at the end of the agreed leasing period.

The benefits of Lease Purchase:

• Fixed monthly cost
  
• Ownership at the end of the lease
  
• Flexible contract
  
• Balloon Payment
  
• Low initial outlay
  
• Business capital not tied up in a depreciating asset
  
• Finance not subject to VAT
  
• Interest reclaimable against tax
  
• Writing down allowance