Leasing Options
At Jabroo Cars we offer a range of leasing options. Just choose the one that suits you and your circumstances best.Contract Hire
Fixed price motoring for companies who don’t want to worry about ownership and depreciation
Contract Hire allows a business to hire vehicles through us for a fixed monthly payment and a specified period of time (normally between 12 and 60 months). The business will not have to worry about ownership of the vehicle or being responsible for associated risks such as depreciation. It can also be kept off the balance sheet. At the end of the contract, the vehicle is collected and your obligation ends. Alternatively you can order a new vehicle to be delivered in time for the end of your current contact or you can keep your current vehicle by extending your contract agreement. This ensures you don’t have the inconvenience of being left without a vehicle for any period of time.The finance company will remain the owner of the vehicle at all times.
- The finance company will carry the residual risk.
- The vehicle will be off the balance sheet.
- A minimum deposit of three monthly payments is usually required.
- If the vehicle is used for some form of private use, 50% of the VAT on the monthly payments can be reclaimed.
- Take advantage of minimal initial outlay.
- Releases capital for essential business needs.
- Makes more desirable models affordable.
Personal Contract Hire
Fixed price motoring for individuals who don’t want to worry about ownership and depreciation
Also known as personal leasing, Personal Contract Hire is a long-term rental agreement (normally between 12 and 60 months). As with Contract Hire for businesses, personal customers make fixed monthly payments over the agreed contract period to hire a chosen vehicle. You will not have to worry about ownership of the vehicle, being responsible for associated risks such as depreciation and particular models become more affordable, whose purchase prices may have normally been out of your price range. At the end of the contract your vehicle can be arranged for pickup without any further obligations. You also have the option to pay the current market value of the vehicle and own it outright or you can order a new vehicle to be delivered in time for the end of your current contact.- The finance company will remain the owner of the vehicle at all times.
- The finance company will carry the residual risk.
- A minimum deposit of three monthly payments is usually required.
- Take advantage of fixed cost, risk free motoring.
- Can be up to 60% cheaper than taking out a standard vehicle loan.
Contract Purchase / Personal Contract Purchase
The option to purchase the vehicle outright at the end of the contract
As with Contract Hire a business or personal user can choose to hire a vehicle through us by paying a series of monthly payments, however this is a purchase style agreement. The difference from Contract Hire is that the business or driver has the option to purchase the vehicle outright at the end of the contract for a set amount (balloon figure) as long as the terms of the agreement have been completed and met. This amount is predetermined at the start of the contract and monthly payments are calculated from the remaining purchase price after this set amount and initial deposits have been deducted. At the end of the contract you can also choose to not purchase the vehicle and arrange for it to be picked up without any further obligation or order a new vehicle to be delivered in time for the end of the current contact. Generally, this method is on the balance sheet.- The finance company will remain the owner of the vehicle until the final balloon figure has been paid.
- The finance company will carry the residual risk.
- For businesses the vehicle will be on the balance sheet.
- A minimum deposit to the value of three monthly payments is usually required.