astonishing 60.6 percent of hire purchase contracts signed in the
period between end of H1 2007 and end of H1 2008 were signed under
the “Take a Break” scheme implemented in 2006.
This figure has risen from 9.8 percent during the first six
months of the scheme’s implementation.
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The facility, modified from the existing VIP Flexibuy plan,
allows customers to take three payment holidays of up to two months
each in a three year payment plan, with the elapsed time
transferable to the end of the term agreement.
So far, the Take a Break plan has allowed JCB Finance
– which finances 90 percent of JCB diggers in the UK – to
continue growing business during the severe downturn currently
afflicting the construction industry.
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