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Funding Methods -
Personal Contract Hire
Risk: Funder assumes
risk.
How it Works:
Personal Contract Hire
gives the user a fixed equal monthly rental for a fixed contract term. At
the end of the contract term the car is handed back.
Popular With:
Company car drivers who
are given a "Car Allowance" instead of a company car thus
allowing the individual to make his/her own choice and arrangements. This
in turn will benefit the company. This will also avoid "Benefit in
Kind" taxation.
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