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Published Date: 04/09/2015

It is becoming more common for customers to finance a car instead of buying it out right. This is because there are so many great finance deals on offer, so it makers more sense to do it this way.

Here at Inchcape Lexus, we have four different options for you to choose between, one of which is sure to suit you.

Lets take a look at the different options…

Personal contract purchase

A personal contract purchase is available on new, nearly new and used Lexus cars. PCP is very popular as at the end of your agreement you have three choices of what to do with the car. You can either buy the car by paying an agreed minimum residual value (retain), return the car with nothing more to pay subject to mileage and condition (return), or part-exchange your car to use as a deposit or take as cash-back (renew).

Contract hire

Lexus connect contract hire is excellent for those who are looking for a company car. It’s simple, you drive your Lexus company car for a set period then give it back. With fixed cost motoring, tax benefits plus optional service plans you will have nothing to worry about when driving your Lexus.

Finance lease

This is another finance option that is more suited to the business customer and is a tax efficient and flexible way of purchasing a car. There are two options of how to finance lease a Lexus, firstly you can spread the cost of the vehicle over a certain period leaving no further money to be paid. The second option is to offset an amount to the end of the term meaning the customer has to pay less per month. The responsibility for selling the car at the end of the contract lies with the customer, so there is also a chance to make a profit.

Hire purchase

Probably the most common funding method is the hire purchase method. Monthly payments are determined by the amount of deposit initially paid (usually 10%). Once all the payments have been made the car is the customers and you can either keep or dispose of it however you please. This method of finance will suit those looking for a simple plan.

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