- 22 września 2021
- Autor Autopasja
Despite the silence of the Revenue PCP guidelines on the availability of a debt default, it confirms that “Revenue is prepared to accept that a PCP can be treated as a delivery of goods, in the same way as a standard lease agreement in which, at the beginning of the agreement, the only economically reasonable choice for the customer is to purchase the vehicle at the end of the contract”vii. Therefore, on a comparable basis, the full range of consequences and facilities applicable to products delivered under HP agreements must also apply to products delivered under PCP contracts. The right equipment can make the difference between a competitive business and an unproductive one. Our accessible, manageable and flexible financial products can fill this gap – by making available to your customers what they need without burdening their budgets and freeing up internal resources that could be better used elsewhere. If you make a rental agreement available to your customers, you`re not just selling them equipment: they`re offering them the opportunity to pay in a way that aligns with their business priorities. In addition, purchase and instalment systems can provide an incentive for individuals and businesses to purchase goods that are beyond their means. You can also pay a very high interest rate at the end, which does not need to be explicitly stated. This article provides only a complete overview of some of the effects of payment defaults and car withdrawals under HP or PCP agreements. We are happy to discuss the impact this will have on your business. Based on Central Bank data, the share of total car financing in consumer credit was 44% in August 2019, a significant increase of 8% in June 2012. At around €3.1 billion, rental financing consisted of the largest amount of private financing, including €1.2 billion for PCP financing. Together with other car financing of €0.09 billion, the PCP accounted for 30% of all car financing. Lease purchase agreements are similar to lease agreements that give the lessee the opportunity to purchase at any time during the contract, for example.B rental cars.
As a rent-to-own, rental purchase can benefit consumers who have poor creditworthiness by spreading the cost of expensive items over a long period of time that they might not otherwise be able to afford. However, this is not the same as a credit extension, since the buyer does not technically own the item until all payments have been made. The rental purchase itself contains an element of sale. The distinguishing feature of a typical lease is therefore that ownership of the goods is not re-executable at the conclusion of the contract, but only when the purchase option is definitively exercised in compliance with all the conditions of the contract. . . .