Evans Halshaw car finance explained

Evans Halshaw has been providing car finance options, car leasing and various types of car loans to individuals who are interested in purchasing, hiring or leasing a vehicle.

Evans Halshaw photoWith their extensive market knowledge and their experienced team, they manage to bring forward some of the most popular finance options for their customers. Some of the car finance options that you can choose from at Evens Halshaw are as listed below:

Hire purchase

Hire purchase is Evans Halshaw’s most popular finance program. It is available to private individuals as well as to companies who wish to purchase a vehicle. The agreement is available up to a period of 60 months.

Businesses who are not yet VAT registered would also want to go for this finance plan if they want to show their cars as assets in their accounts. The interest can also be reclaimed and the car can be written down easily for taxation which is another benefit.

Hire purchase is a very simple finance plan with fixed interest. The deposit can vary but the plan does offer ownership of the car. Evans Halshaw offers all kinds of cars and vehicles on hire purchase option. There would be a balloon payment to be made at the end of the term to gain ownership of the car.

Personal contract purchase

Personal contract purchase is a car credit option for private individuals only. This finance option offers the benefit of having to pay a very low deposit at the beginning of the agreement.

There are no tax benefits but the payments would be fixed and it can also include a maintenance package if the customer wishes to take the benefit of it. The risk regarding the condition, residual value etc are minimized and the contract would also offer the customers a chance to pay a balloon payment to gain ownership of the car if desired.

Lease purchase

Lease purchase is a good alternative of car credit for business which are not yet VAT registered but are interested in ownership of cars. This is a simple funding scheme where minimum payments would have to be made which would be beneficial for their cash flow. At the end of the term, like with contract purchase, a balloon payment would have to be made to get the ownership of the car. You would also have the option to trade the car for another one at the end of the term.

Personal contract hire

Personal contract hire is mainly offered to private individuals. The plan is the same as contract hire but the difference is that VAT would be included in the monthly payments for individuals.

The deposit that you would have to pay would be kept low and the monthly payments would depend on the expected mileage and the agreement term. Evans Halshaw also offers several other types of packages which can be included in your monthly payments like a maintenance package or RFL. At the end of the term, the car has to be returned back.