Contract purchase is a business contract often used by companies as a way of acquiring high net worth vehicles.

Values of used vehicles can be very unpredictable. The good thing about contract purchase is that a customer has the option of handing the vehicle back at the end of the contract, or alternatively, pays a final balloon payment and owns the vehicle outright.

If the value of the vehicle is lower than the final balloon payment the customer has the freedom to choose whether or not they keep the car or hand it back with no more liabilities.

The vehicle is shown as an asset on the company’s books and the payments do not attract Vat. A maintenance agreement can be run alongside the contract giving piece of mind.

If you would like to know more about Contract Purchase then please call us on: 0870 889 0181 and we will help you to arrive at a decision that´s right for you.