At Academy Leasing we recognise that you may want more flexible ways to run a car rather than making a costly outright purchase. Maybe you want a newer, more expensive make and model or prefer the peace of mind of knowing that you can hand a vehicle back at the end of a contract? Or perhaps hassle free ‘all inclusive’ motoring appeals to you? Whatever your reason, we have options to suit your needs.
This solution is for people who prefer to pay a fixed monthly sum based on the vehicle type, duration and anticipated annual mileage. The minimum initial payment is normally three rentals in advance and deals are normally calculated over a two or three year period.
The plus side
As with Personal contract hire, this option is only available to private individuals. However, this method gives you the added flexibility to purchase the vehicle at the end of the agreement.
The contract is normally between two and five years and monthly costs are based on your period, deposit and anticipated annual mileage. When your agreement comes to an end, you have the option to pay or re-finance the “Balloon Payment” and own the vehicle, or return the vehicle to the finance company.
The plus side
This article provides general information to be used for your reference only and is not intended as a substitute for financial advice specifically directed at your business and taking account of the particularities of your situation.