Personal Contract Purchase
Personal contract purchase works in exactly the same way as personal contract hire – but with one twist. This form of private car leasing gives you the option to buy at the end of the lease period.
A final payment is established between you and the leasing company at the beginning of the agreement, based on an estimate of what the car will be worth at the end of the term.
The benefits to you:
- A Choice at the end of the agreement whether to own buy the vehicle or hand it back.
- You need to find the money to purchase the vehicle at the end of the agreement.
- Road tax is only included for the 1st year of the agreement.