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generic-yellow-honda-civicFor many business owners looking at a possibility to lease a car, personal contract hire and contract purchase is the same thing, which in reality is not true. The contract purchase is a very different form of car lease than the PCH scheme. Both of them work in the same way, but at the end of the contract, things change.

An Option to Keep the Car

Contract purchase is a great leasing method for those businesses that keep changing between different cars or models. This is an excellent scheme for people especially lacking in the financial credibility. There are various benefits of getting involved in a contract purchase, especially when you do not simply have to worry about the resale value of your car when you plan on to get another. One of the best features is also that you do not have to spend huge amounts of cash at the same time.

Although all the aforementioned things sound really good, it doesn’t come without a drawback. The major drawback of a leasing scheme is that the car is never owned by you. For the very purpose, the Personal contract scheme was made. In the PCH, every time your contract ends, you decide whether to keep the car or return and get another. The personal contract option is generally meant for individuals and is the most loved method of getting one’s hands on a new car. This type not only helps you get your desired car, it also protects you as mentioned in the Consumer Credit Act. Check this overview for more: http://www.carleasingplus.co.uk/personal-contract-hire.html

In contract purchase, the customer has the ability to set up monthly payments, and when the term agreed in the contract ends, the customer has the option to keep paying more money until the actual price of the car is reached, this then allows them to own the car. If paying up the existing amount of car is not an option for you, you can always return the car and sign a new contract for another car. One of the greatest benefits of the contract purchase is that you can set your own payment options, thus making it easy for you to pay.

Return the Car at the End

If this doesn’t suit you, the personal contract hire is also available. This scheme is quite easy to understand. It allows the customer to pay a fixed amount each month as the rent of the car, and when this contract ends, the customer simply returns the car. Before getting yourself involved in a personal contract hire leasing, it is very important that you understand how your payments are going to occur. A good personal contract hire company will let you know on all the details: http://www.carleasingplus.co.uk/personal-contract-purchase.html

This is best suited for individuals who get allowances from their company. These people do not get a car directly from their company; instead the business pays them a fixed amount per month as a car allowance. You can easily use this car allowance to pay of the personal contract hire scheme, when it ends; you can easily return the car back to the company.

When you know you can easily keep a car of your dreams with you, without paying a huge amount of money, why not opt for car leasing. You can always get the car you want and return it by the time you’ve got tired of it.

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