Arnold Clark car credit explained

Arnold Clark is a car giant that has been offering car rental, car leasing, car loans as well as various car

finance options for private individuals as well as business organizations. With its huge network of showrooms and branches as well as its online services, the company has been offering services to thousands of satisfied customers.
Arnold Clark has a few good options for businesses among which their Contract Hire is the most popular car credit product. With this finance product, the contract would be for a set duration during which the car of the choice of the customer would be given to them for use on hire against fixed monthly rentals. Arnold Clark offers the opportunity to get maintenance included in the rentals. The vehicle would have to be returned back at the end of the term.
Another option available for businesses is the sale and leaseback option. This is mainly for those who already have vehicles but want to convert their vehicles to contract hire in an easy way. Arnold Clark would purchase the vehicles and then provide them back on lease. This option is considered by many businesses because of the benefits that it provides, including release of tied up capital of the business.

Contract purchase option is for those who want to have the ownership of the vehicle but do not want unnecessary risks for their business. Like contract hire, even this type of agreement would offer all the benefits like recovery of VAT, cost stability  and also capital allowance claim. At the end of the term, you would also have the right to purchase the car or the vehicle by making a balloon payment but you can also decide to return back the vehicle if you want.

Car finance options for individuals

For individuals who are looking for car credit options for their personal use, Arnold Clark offers personal contract hire. With this type of car finance option, you would be able to select the car of your choice. Arnold Clark would then offer the car to you on hire basis. The agreement term would be fixed beforehand along with the monthly rent that has to be paid. The instalment that would have to be paid per month would include VAT and if you want, maintenance can also be included with the car finance quote.

Like contract hire for businesses, you would have to return the vehicle back to Arnold Clark at the end of the term as decided. This is mainly a program for hire and you would not have an option to purchase the vehicle at the end of the term. The main benefit of this car credit option is that you would not have to worry about the rising interest costs, maintenance costs or the depreciation of the car. You can simply use the car of your choice and then return it back.