HIRE PURCHASE
The traditional, but still ever popular, funding option which gives the customer eventual ownership of the vehicle.
A fixed cost, fixed period loan that allows you to spread the cost of the vehicle over a period of up to five years. The user is effectively the owner of the asset, but legal title to the car does not pass until the loan is fully repaid including the final payment which includes a nominal "option to purchase" fee. Monthly payments cover the capital cost plus interest and do not carry VAT. For business users the vehicles will be ON Balance Sheet.
For Private individuals and companies that want eventual ownership of the vehicle.
LEASE PURCHASE
A funding agreement where the purchaser acquires ownership when all the payments, including the option to purchase fee have been made. Part of the capital cost of the vehicle payment may be deferred into a "balloon" payment at the end of the agreement which equates to the anticipated value of the vehicle at the end of the leasing period. Leasing: A lease is a contract between a Lessor (the lender) and the Lessee (the customer) for the hire of a vehicle. The lessor retains ownership of the vehicle while the lessee has possession and use for payment of specific rentals and agreed period. Finance subject to status.
Joelyan Yapp t/as Shropshire Car and Van Sales are acting as an Introducer Appointed Representative for 21st Century Vehicles Ltd t/as Autobahn Finance, who are a credit broker and not a lender.
Credit is subject to status and approval and is only available to UK residents aged 18 or over. 21st Century Vehicles Ltd is authorised and regulated by the Financial Conduct Authority. Their registered office is Unit 1 Atlantic House, Charnwood Park, Bridgend, CF31 3PL. Firm Reference Number: 674253
Joelyan Yapp t/as Shropshire Car and Van Sales are not authorised to provide independent financial advice. If you proceed, Autobahn Finance will provide you with details of any commission that Joelyan Yapp t/as Shropshire Car and Van Sales and Autobahn Finance receive for introducing you to a lender.
