FOR small businesses that prefer staff to run their own cars, then here’s a new product from Vauxhall Retailers.
Vauxhall Finance has launched a Personal Contract Hire leasing programme.
Personal Contract Hire is a form of car leasing that allows you to drive a new car for a set period of time and miles before returning it to the dealer, in this case a Vauxhall retailer. You can then decide to upgrade your car, choose a new car, or walk away.
With Personal Contract Hire you never own the car but the lease rentals on a PCH provide access to a new car for a monthly rental without having personal funds tied up in the purchase of a car.
Return conditions are present in PCH – and you should be aware of these before commencing such a rental agreement – and mileage penalties exist if you go over the agreed mileage limit.
Personal Contract Hire is a useful leasing product for those drivers who need a car for business but do not receive or qualify for a company car.
Business mileage on a PCH car can be reclaimed at 45ppm under the tax-free AMAPs scheme.
Managing Director of Vauxhall Finance, Simon Kington commented:
“This product launch is a further step for Vauxhall Finance to become a full captive for Vauxhall, which is part of our new Strategic Plan for profitable and sustainable growth. Increasing our product portfolio means we are able to deliver more of the finance products that Vauxhall customer’s want, which will improve the experience at Vauxhall Retailers.”
A Service, Maintenance and Repair (SMR) package can be added to a Vauxhall Personal Contract Hire agreement, said Vauxhall Finance.
