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Leasing Vs Hirepurchase

sbr

By sbr
in General Automotive

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sbr Newbie

sbr

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Can some one explain the differences between the leasing scheme and the hire purchase scheme. Which one is better if some one plans to pay the full amount earlier than the years specified in the agreement. Which scheme is more beneficial to the customer ? . :D

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GMI Newbie

GMI

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All the terms and the amortization schedules of both leasing and hire purchase are similar, except on the VAT and ownership. So, it’ll be both same if you want to make an early settlement. If you think of early settlement, the best option would be loans. However if you go for unregistered vehicles, you can take VAT benefits through leasing but not from HP. If you go for registered vehicles, HP is much beneficial as you do not have a VAT component.

Call a leasing agent; you can get their assistance with many details…

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