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Personal contract purchase (PCP), often referred to as a personal contract plan, is a form of hire purchase vehicle finance for individual purchasers, similar to both personal contract hire and a traditional hire purchase (buying on installments).
The vehicle rental and leasing industry supports over 465,000 jobs, adds £7.6bn in tax revenues and contributes £49bn to the UK economy each year. [2] It seeks to look after the interests of, and sets standards for operational quality for, both the contract hire and leasing sectors and the daily hire sectors.
In 1969, it acquired Controlled Cost Motoring, established Lombard Contract Hire in 1983 and acquired Fleetdrive in 1988. Autolease was established in 1959 by Britax, which also owned Bristol Street Motors. [4] Through mergers, a company called Lex Vehicle Leasing emerged. By 2005, it was owned by Aviva as part of their RAC plc company.
Steps to buying a car from a private seller. Buying a used car from a private seller may be more complicated than purchasing a certified pre-owned used vehicle from a dealership. Although both ...
A livery cab (North America), private hire (UK and Australasia), or minicab (London) is a car with a driver available for hire only on a pre-booked basis. These cabs are contrasted with public-hire taxicabs or hackney carriages, hailed or street taxis, licensed to ply streets and for hailing throughout communities.
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
Lease purchase agreement (click to view pages) Rent-to-own, also known as rental purchase or rent-to-buy, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics, motor vehicles, home appliances, engagement rings, and real property, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during ...
Usually, car leases allow the lessee to drive the car for a certain number of miles for a certain number of years. The lessee pays a fixed monthly payment for the privilege of driving the vehicle, and when the lease ends, the lessee returns the vehicle to the lessor. The lessee pays only for the value of the vehicle for the term of the lease.