Academy Leasing Ltd

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Ownership

There are effectively 4 ownership or purchase options when it comes to acquiring a vehicle:

outright (cash)

hire purchase
lease purchase, and
contract purchase / personal contract purchase (PCP)

In a nutshell…

Outright (cash) purchase

full payment
you bear the depreciation and maintenance costs and, therefore, the risk
you acquire immediate title of the vehicle

Hire Purchase

large deposit
you bear the depreciation and maintenance costs and, therefore, the risk
you acquire title of the vehicle once all payments have been made

Lease Purchase

low deposit
you bear the depreciation and maintenance costs and, therefore, the risk
you acquire title of the vehicle once all payments have been made, including any balloon payment

Contract Purchase / Personal Contract Purchase (PCP)

low deposit
optional customer depreciation risk: we bear the maintenance risk if applicable
option to purchase or return car to us (excess mileage or condition charges may apply)
VAT payable on maintenance portion of rental only

Personal Contract Purchase (PCP) – catering for the individual…

In addition to company vehicle solutions, we also cater for private individuals through personal contract purchase. Similar to contract purchase, PCP enables employees to acquire a vehicle should they choose to opt out of the company vehicle scheme and is the ideal solution should you wish to acquire a second vehicle, perhaps for a partner or family member. PCP offers the security of fixed cost motoring with no
disposal problems, with this you have the option to simply give the vehicle back at the end of the agreement.Each of these options presents different benefits and potential drawbacks and we are here to guide you through the options and offer you the very best advice. We can present you with case studies to illustrate how certain options may favour your circumstances.

For further help and advice on the best vehicle solution for your needs call us TODAY on 01942 408 520 or click here to email us at info@academy-leasing.co.uk