Once you have your contract concluded, you have three options: The cost of a rental agreement is the difference between the cash price of the leased goods and the full rental price. If the cash price of a car is 12,000 euros and the rental price is 17,000 euros, the rental purchase is 5,000 euros, i.e. the additional costs associated with renting the car (and perhaps at some point) instead of buying it directly in cash. You`ll own the car. This gives you exclusive freedom with what you want to do next. You will be the rightful owner and so you can just keep the car. However, you only own the car when you pay this final payment. For the duration of the agreement, the vehicle is owned by the financial company. If low monthly payments are your priority, you can increase the deposit you pay at the beginning of the agreement. As this reduces the amount you then owe, you pay less each month. It also reduces the amount of interest you pay because you borrow less. Unless all of these requirements are included in the agreement, the agreement itself cannot be applicable.

Meanwhile, other types of funding, such as the . B (PCP), require the lender to assess the value of the car at the end of the agreement, since the monthly payments cover the difference between the initial price of the car and the final value predicted after the end of the contract. This can be extremely difficult for vehicles over five years old, increasing the risk to the financial company. iii You pay all royalties, royalties, royalties, royalties and other taxes payable for the vehicle in question and keep the vehicle in good repair and operation and allow the owner and persons authorized by it to have access to that vehicle to verify the condition of that vehicle. If the tenant does not fail or neglect to repair the vehicle in question or to keep it in good repair condition, the owner is authorized, but not obliged to make, seize or ensure that the vehicle in question is confiscated and that the same vehicle is repaired and that he keeps the same vehicle in his care until the tenant pays the bills for the repair of that vehicle. Fees and fees for rental contracts may vary, but may include: Ideal for: people looking for a simple financing agreement with the option to own the car. These contracts are easy to organize quickly and available at most car dealerships. Independent dealers will have a greater choice of cars because it is much easier for them to store different manufacturers. You`ll also find mostly used cars, which means that vehicles are usually cheaper. The half rule is part of the Consumer Credit Act 1995 and gives you the right to terminate an HP contract at any time. The half-rule limits your liability (the amount for which you are responsible) to half the HP price of the car. The agreement of the financial company must show you the number for half the HP price of the car.

13. The parties acknowledge that this agreement has been explained to them in its entirety and that they have understood the importance of all the clauses of this agreement and that they have signed this agreement with full understanding of the commitments made to it. The rental purchase is exactly what it looks like, a lease that gives you the ability to own the car at the end of the deal.