Personal Contract Hire is actually the same as Contract Hire but for private individuals. It offers fixed cost motoring, for example if you have opted out of a company car scheme then Personal Contract Hire could provide a way to have a vehicle over a fixed period of time without the responsibility of maintenance or depreciation. Payments include VAT but it is not reclaimable by individuals.

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PCP allows an individual to lease a vehicle for a fixed amount of time at an agreed monthly charge. There is an optional balloon payment at the end of the lease period, with which the individual can pay to purchase the vehicle, or it can be returned. The payments are calculated by the agreement length, mileage and the value of the vehicle once the contract has completed.

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Like contract hire, but for shorter periods, contract periods typically less than 12 months. Where firms have changes in staffing levels on a regular basis, this can be useful, or where an organisation may require stop-gap vehicles.

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This is where a vehicle is contracted to a business (usually vat registered), for a fixed period of time and mileage at a fixed monthly rental. The price is equated by the agreement length, mileage and the value of the vehicle once the contract has completed. Maintenance packages are sometimes included within the package, however, suitability will depend on your mileage and general usage of the vehicle.

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Short term contract hire operates in the same manner as traditional contract hire, but as the name suggests offers contracts for shorter periods. Contract periods are available upto 12 months.

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The traditional way to purchase a vehicle. Payments are made over a fixed period, usually preceded by a deposit, the car then becomes the property of the person who takes out the hire agreement, once all the payments are made.

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Monthly rental is calculated by the cost of the vehicle, future value at a given date and the miles driven in that period. One amount equivalent to the future value is to be paid at the contract end, at which point the lessee becomes the vehicle owner. Lease Purchase is written on a hire purchase agreement with the same protections given by the consumer credit act.

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Usually VAT free, the monthly rental is equated by the cost of the vehicle, the value of the vehicle is set via the milage agreed. A the end of the fixed period, the user must pay a pre-determined fee based on future values. The vehicle is then sold and the monies are returned to the lessee.

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Sale & Leaseback can release the cash locked inside company vehicles by paying a percentage of the value of your fleet and leasing them back to under a lease scheme, to increase a firms working capital, as well as allowing a firm to attain knowledge of fixed monthly costs.

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