Personal Contract Purchase

How does Personal Contract Purchase work?

Many companies are now looking at the benefit both to the business and to their drivers of offering an alternative to the company car. An obvious solution is an additional cash payment to the driver for them to provide their own vehicle for business use. However, this can bring with it an amount of uncertainty and introduce problems for those drivers accustomed to running a fully expensed company vehicle. Personal Contract Purchase (PCP) offers your drivers all of the benefits they associate with a company car, without the personal tax burden. An integrated PCP package, such as Lex Freechoice, can ease the driver’s transition from a company vehicle to one of their own.

The benefits of Personal Contract Purchase

The driver can enjoy all the benefits of having a company car, including maintenance and servicing, breakdown cover and insurance, all included in one monthly payment.

We form a contract directly with the driver so you are not responsible for the arrangements, nor the administration or guaranteeing any of the costs involved.

Your driver will enjoy lower interest rates and a lower initial payment than they would typically find elsewhere.

The driver will benefit from Lex Vehicle Leasing’s considerable purchasing power and, unlike many manufacturers’ car plans, our PCP product is not limited to any particular makes or models.