News

Do not Buy! Lease your next vehicle

Vehicle Contracts have been advising our customers for some time against using vehicle purchase products to finance their next vehicles. This includes Personal Contract Purchase, Lease Purchase, Finance Lease and Contract Purchase. As from September 08 we will not be offering any of these products.

This is due to the continuing deterioration in the value of used cars. CAP, the market leader in monitoring used car prices has reported a further 15% fall in the average of used car prices since May this year.

This has left customers who have purchase products in negative equity. Usually this is highlighted at the end of the contract, with the balloon price substantially more than the market value of the vehicle.

Vehicle Contracts therefore will be offering two products. Contract Hire for our business customers, and Personal Contract Hire for our personal customers. Both products offer the benefits of fixed cost motoring with no liability of disposing of the vehicle at the end of the contract.

2008 Offers

Manufactures are carrying large stocks of cars and vans at present. We have therefore been offered large discounts to reduce the monthly rentals and move the extra stock of vehicles.
If you are thinking of changing your vehicle this year give us a call now. During the current ‘Credit Crunch’ there will be a silver lining in reduced monthly payments on vehicles leased this year.
We expect rentals to increase next year as manufacturers cut back on production because of lower demand.