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Business Lease Vs Personal Lease If you’re looking to lease a Vehicle, you’ll be asked Business or Personal? They are not the same, and you’ll need to know what’s what…

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Things to know A business agreement like a personal agreement requires a down payment to be paid at the beginning of the agreement, the initial payment is usually expressed as multiples of the monthly rentals, such as 6+35means you would have to pay 6 monthly rentals upfront followed by 35 monthly payments thereafter.
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Business Leasing Usually, the annual mileage required is higher on a business lease than a personal one, this is because company cars tend to do more motorway miles. More often than not, the maximum annual milage is 40,000 miles a year, this can vary on different deals. Excess milage charges will come into play if the maximum milage has been exceeded, also if there is any damage to the vehicle when it’s returned any repairs required will be chargeable. Companies tend to pass these charges on to the employee who’s been driving the car.

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What finance product?
Business Contract Hire (BCH)
Business Contract Hire (BCH)
You keep a vehicle for a set period of time and pay a monthly fixed cost for the duration of the rental. There is no option to purchase the vehicle at the end of the term of a business contract hire agreement.

How does PCP actually work?​

What are the advantages of PCP?

What should you consider when option for a PCP?

Can I settle my PCP agreement early?

Finance lease
Finance lease
Finance lease is similar to a contract hire lease in that the agreement lasts a set period of time and there are fixed monthly costs. Finance leasing is an option that is only open to businesses.

How does HP actually work?​

What are the advantages of HP?

What should you consider when option for a HP?

Can I settle my HP agreement early?