Jungle

Finance Option 1

Personal Contract Hire

Personal Contract Hire, as its name suggests, is essentially the same as Contract Hire but for private individuals. If you want fixed cost motoring, or have opted out of a company car scheme then Personal Contract Hire could provide you with hassle free motoring without the residual value risks associated with traditional ownership.

Personal Contract Hire is simply like hiring a car over a fixed period of time. All you need to do is pay a monthly fee over the agreed period. Once the contract is up you just return the car. Then you can walk away or take out a new contract, whichever you prefer.

The benefits of Personal Contract Hire include

• Fixed monthly payments to suit your budget
• No depreciation or disposal issues to contemplate

Finance Option 2

Personal Contract Purchase

Personal Contract Purchase is a method of personal car finance that offers a guaranteed optional purchase price at the end of the contract. The term, mileage and final payment for the contract are agreed at the outset, a minimum deposit may be required.
The benefits of Personal Contract Purchase include

• The one off lump sum (Balloon Payment) can reduce your monthly outgoings therefore making your choice of car a lot more affordable
• Tailored payment plans to suit your needs

Finance Option 3

Contract Hire

Contract Hire is ideal for companies who don’t want the financial risk of running their own vehicle fleets and who are looking to reduce the administration burden of buying, maintaining and disposing of their vehicles.

With Jungle Cars the user specifies the anticipated annual mileage and hire period, then pays a fixed monthly rental.

Under a full maintenance agreement the customer would only be responsible for fuel, insurance, and accident damage. All other various services, i.e. repairs, replacement tyres etc. would be covered under the agreement.

The benefits of Contract Hire include

• Fixed monthly rentals
• Rentals can be offset against tax
• Agreement can be tailored to your budget
• You have the benefits of a vehicles use without ownership
• No disposal problems
• Off balance sheet funding

Finance Option 4

Contract Purchase

This method of financing was introduced to alleviate the burden on companies who were unable to reclaim the VAT on their monthly payments and to overcome the cost of corporation tax implications for cars costing more than £12,000.

The difference between Contract Purchase and Contract Hire is that you can buy the vehicle at the end of the contract period by paying a ‘balloon payment’.

The benefits of Contract Purchase include

• There is no VAT on the finance element of the monthly payment although VAT is charged in the car price and on any additional services
• Fixed Interest means easier cash flow budgeting
• You can claim Capital Allowances
• You have the option to buy the car at the end of the contract