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Car purchase for business use - loan or PCP ??
AirCooledHeaven
Posts: 884 Forumite
in Loans
I'm planning to buy a nearly new used car for around £16,000 which I'll keep for three years doing around 20K miles per year. Cash purchase is not an option so I appear to have three finance options; conventional loan, personal contract purchase, personal lease purchase. What are the pros and cons of each ? I'll be making payments from a company car allowance which I've opted for rather than a company car as 80% of my mileage is business use, and I'll be reimbursed at the maximum rate of 45p/25p
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