Payment Profiles

Payment Profiles

Terminal Pause
This refers to a payment profile for your contract or agreement such as 3+33 rentals in a 36 month agreement. You pay three rentals in advance at month one and commence payments in month two for 33 further monthly rentals. As you have paid all your 36 rentals within 34 months you have a two month payment free period at the end. This is the pause which allows you to allocate funds for your next 3 advance payments when you change your car.

Spread Rental
This refers to a payment profile for your contract or agreement such as 3+35 rentals in a 36 month agreement. This is how most contract hire agreements are marketed, and is a way of showing the monthly payment as less per month. For example a three year spread rental type agreement would be shown as a 3+35, making a total of 38 payments within a 36 month agreement, with no pause at the end. If you caculate the total amount payable on a 3+33 agreement against a 3+35, you will find the 3+35 works out more expensive!