Personal Contract Purchase
Q&A
Q: Are there any
hidden costs?
A: The rental payments include use of
the vehicle and road fund license (if road fund license is required for the
length of the agreement, there is an optional additional cost which will be
added to the rental). There is also 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. In fact if you opt for the
maintenance package, your only additional expense will be fuel and
insurance.
Q: What happens at
the end of the agreement?
A: Three months before the end of the
agreement, you will be contacted to discuss your future requirements and
will be offered the following two options:
You may elect to purchase the vehicle by
paying the guaranteed future value. OR
If you decide not to take out a new
agreement, then, subject to mileage and the condition of the vehicle, you
can simply return the vehicle and walk away. in this case Mach Vehicle &
Finance Ltd. will arrange to collect the vehicle.
Q: Can agreements be ended
early?
A: Yes. Although contracts are for an
agreed period, the agreement may 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 condition.
Q: What happens if the
agreed mileage is exceeded or the vehicle is damaged when it is returned?
A: 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 payments be
protected against redundancy and loss of life?
A: Yes. For an additional monthly fee,
our optional Payment Protection Plan offers comprehensive insurance against
the unforeseen.
Q: Is this benefit open to
my family and friends?
A: Yes. Subject to Mach's credit
acceptance terms, your friends and family may take out a PCP agreement with
us.
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