Please note there has been significant legislation changes to Vehicle Excise Duty (VED) which will affect all vehicles registered 1st April 2017 onwards. What you need to know in five points.Tap here to read more
  1. First Year Rates (FYRs) of VED will vary according to the carbon dioxide (CO2) emmisions of all vehicles raning from £0 for zero-emmision right the way up to £2000 for cars with CO2 over 255g/km.
  2. Subsequent years a flat standard rate (SR) of £140 will apply in all subsequent years, except for zero-emissions cars for which the standard rate (SR) will remain £0.
  3. Cars with a list price above £40,000 will attract a supplement of £310 on the standard rate (SR) after the first 12 months for the next 5 years.
  4. After 5 years the added £310 supplement will no longer be paid, reverting back to the standard rate (SR).
  5. All cars registered before 1st April 2017 will remain in the the current VED system, which will not change.
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What is Personal Car Leasing

 

 

What is Personal Leasing?

Personal Leasing is an agreement that provides you with the use of any vehicle for a selected period of time at a series of fixed monthly payments. Personal Leasing is growing in popularity in the UK and is already the norm in America, with prices becoming increasingly competitive. Personal Leasing allows you to avoid the hit of depreciation as all risk is taken by the Finance Company who own your vehicle through the duration of the contract. It is for many people the most cost-effective and hassle-free way to drive a new car.

What is Personal Contract Hire?

Personal Contract Hire is the most common form of Personal Car Leasing and often acts as the overarching term for the process. Personal Contract Hire, like all forms of leasing, gives you the opportunity to drive a brand new vehicle at a fixed monthly payment over an agreed duration (usually either 24,36 or 48 months). You will also be required to pay an initial payment usually the equivalent of 3 or 6 monthly payments, but this is largely customer specific. At the end of your contract, you simply hand the keys back to the finance company.

What is Personal Contract Purchase?

A Personal Contract Purchase or (PCP) is another common form of leasing. PCP works in a similar way to Personal Contract Hire in that you pay an initial payment followed by a series of fixed monthly rentals over an agreed term. However, at the end of your contract you will have the option to purchase the vehicle for a cost based on its residual value.

 

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Select Car Leasing is a trading style of Select Contracts (UK) Limited and the firm is authorised and regulated by the Financial Conduct Authority FRN 670832. Select Car Leasing are a credit broker not a lender. VAT Registration No 181 8746 74. ICO Registration ZA076253. Company Number 06569098. Select Car Leasing are proud to be a member of the British Vehicle Rental and Leasing Association (BVRLA) No 1846.


Copyright 2016 Select Car Leasing. All Rights Reserved.

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Select Car Leasing is a trading style of Select Contracts (UK) Limited and the firm is authorised and regulated by the Financial Conduct Authority FRN 670832. Select Car Leasing are a credit broker not a lender. VAT Registration No 181 874674. ICO Registration ZA076253. Company Number 06569098.

Select Car Leasing are proud to be a member of the British Vehicle Rental and Leasing Association (BVRLA), No 1846.

© Copyright 2016 Select Contracts UK Limited. All Rights Reserved.

 

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