| Contract Purchase |
| Contract Purchase is a tax efficient*
method of owning your own vehicle. With Contract Purchase we set a
Guaranteed Future Value for the vehicle. The repayments you make to
us take this value into account therefore the repayments will be
lower than other forms of vehicle finance.
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| Mach offers this service at
competitive monthly rentals with a number of benefits: |
- Low initial deposit required
- The road fund license is included
for the period of the contract
- Mach manages the disposal of the
vehicle at the end of the contract, at no extra cost
- A full maintenance package is
available
- You have the option at the end of
the contract to: return or purchase the vehicle
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| Contract Purchase offers a simple,
easy to budget solution for fleet ownership. |
Credit facilities are subject to status and
are only available where personal lending is involved to UK residents aged
18 and over. Full details and written quotations available on request.
* Any tax benefits depend on your tax position, on which you should take
specialist advice.
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Contract Purchase Q&A
Q: Are there any
hidden costs?
A: No. The rentals shown on the
agreement are all you have to pay. There is however an optional maintenance
rental payment for the period of the agreement, which includes scheduled
servicing and most normal wear and tear such as tyres and exhausts. If you
opt for the maintenance package, your only additional expense will be fuel
and comprehensive insurance. Q: What happens at
the end of an agreement?
A: You have two
choices:
-
You can pay the Guaranteed
Future Value and take ownership of the vehicle. If the vehicle proves to
be worth more than the Guaranteed Future Value, you can use any excess
as a deposit towards your next vehicle. OR
-
You can return the vehicle
to Mach.
N.B. At the end of the agreement, Mach Vehicle & Finance Ltd.
will
appraise the vehicles condition and confirm the mileage at time of
collection. You may be asked to pay for any applicable excess or
refurbishment charges due.
Q: Can I end the agreement
early?
A: Yes. Although contracts are for an
agreed period, the agreement can be ended early. However, if you wish to
return the vehicle early, you will be required to pay a finance settlement
charge - subject to the normal stipulations on mileage and vehicle
condition. Q: What happens when the
agreed mileage is exceeded or if the vehicle is damaged when it is returned?
A: If the mileage is exceeded, then an
excess charge is made at the contracted pence per mile rate. If there is
damage, then an assessment is made and you will be notified of the
refurbishment charge.
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