When considering vehicle finance, be it for personal or business use, it is important to take account of the different finance options available and choose the finance product best suited to your particular personal needs.
Consumer Hire
A Consumer Hire agreement is an arrangement whereby you hire the vehicle over an agreed term in exchange for a fixed monthly rental. Rentals are calculated on the total cost of the vehicle together with the interest cost over the chosen term of Hire, which is usually 3 to 5 years. Rentals payable will be inclusive of VAT at current rates.
At the end of the Hire term you have the following options:
- You may extend the Hire term by paying a small annual fee.
- You may purchase the car (indirectly) for what is usually a nominal fee.
- You may use the value of the car as a trade against the value of a new car
Lending criteria, terms and conditions apply
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