A form of hire purchase where the full capital cost of the vehicle is repaid over agreement period. A residual (balloon) payment can be included to minimise the monthly payments. Upon completion of the agreement the vehicle and the equity therein passes to you. A maintenance package is not normally included.
- Normally a lower initial payment
- No VAT on payments and therefore good for businesses outside the scope for VAT and those wishing to have equity in the vehicle
- Tax efficient for more expensive cars
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