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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). Unlike a traditional hire purchase, where the customer repays the total debt in equal monthly ...
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 ...
BVRLA members are responsible for a combined fleet of almost five million cars, vans and trucks on UK roads, or 1-in-5 cars, 1-in-6 vans and 1-in-6 trucks. 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 ...
A hire purchase (HP), [1] also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset plus interest over a period of time. Other analogous practices are described as closed-end leasing ...
Website. www.lexautolease.co.uk. Lex Autolease was created in May 2009 from the merger of HBOS -owned Lex Vehicle Leasing with Lloyds TSB Autolease, and is the currently the largest vehicle leasing business in the UK, with a fleet of about 385,000 vehicles. [1][2] One in every thirty new cars sold in the UK is through Lex Autolease. [3]
A car rental, hire car or car hire agency is a company that rents automobiles for short periods of time to the public, generally ranging from a few hours to a few weeks. It is often organized with numerous local branches (which allow a user to return a vehicle to a different location), and primarily located near airports or busy city areas and often complemented by a website allowing online ...
A lease is a contractual arrangement calling for the user (referred to as the lessee) to pay the owner (referred to as the lessor) for the use of an asset. [1] Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. In essence, a lease agreement is a contract between two parties: the ...
LeasePlan UK was created in 1979. The company operates a fleet of over 137,000 vehicles including over 38,000 commercial vehicles. [14] [non-primary source needed] Major clients include NHS, [15] Virgin Media [16] and Carlsberg. [17] It also sells off-lease vehicles to wholesalers and through its new CarNext.com unit.