Personal Leasing

Personal Contract Purchase (PCP)
Contract Purchase for private individuals

One of the funding methods which Neva offers for private individuals who may wish to opt out of a company car scheme or would like a car for private use. PCP also gives the customer the benefits of leasing a vehicle along with the option to own it if they so desire.
PCP enables customers to upgrade to vehicles that might otherwise be unaffordable.
A guaranteed residual value is set by the funder at the start of the contract, which gives the customer a number of options by the end, some of which are:
  1. Part-exchange the vehicle and use the equity as a deposit for the next vehicle
  2. Keep the vehicle by paying the outstanding residual value
  3. Keep the vehicle and re-finance the outstanding value over a longer period of time
  4. Hand the vehicle back

Key customer benefits:
  • The customer can trade up to an otherwise unaffordable vehicle (e.g. an executive/ sports car)
  • Hassle-free and cost-effective way to finance a vehicle
  • The convenience of an optional full maintenance service, at a fixed monthly cost, is optional.

Personal Contract Hire (PCH)
Individual vehicle hire contracts
This funding method is basically contract hire for the private individual. It is known by most individuals as “leasing a car”.

The customer, whilst not owning the vehicle, benefits from Neva’s buying power to drive down the cost of the monthly rental.

Personal Contract Hire can offer a cheaper alternative to “Personal Contract Purchase” where the leasing company is benefiting from their purchasing terms with the manufacturer or chosen supplier.

Key customer benefits:
  • Neva’s buying power drives down monthly rental costs
  • Fixed monthly rental that can include additional services, such as maintenance – no cashflow fluctuations
  • None of the depreciation risks associated with ownership
  • The convenience of a full maintenance service, at a fixed monthly cost, is optional
  • Road Fund Licence is provided for the full term of the contract.

Hire Purchase / Lease Purchase
Simply, traditional methods of funding the asset value of the vehicle, with or without a deferred ‘balloon’ amount. Ideally suited to clients that may wish to settle the finance term early and take complete ownership of the vehicle.

You can view our personal leasing offers here  


For more information or to discuss your circumstances please get in touch on 01825 720900 or