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  2. Loan Repayments and Terms

What Is a Payment Profile?

Definition of a payment profile and what you need to know.

In the Finance space, you might encounter the term 'payment profile'. It is often presented as numerical sequences, like 3+33. Essentially, a payment profile breaks down the total cost of a lease into distinct segments, specifically the initial rental payment and the subsequent monthly instalments. Take, for instance, the 3+33 profile. The initial rental amounts to three times the subsequent 33 monthly payments.

Allow us to illustrate with an example:

Consider a monthly rental of £150 + VAT. For a 3+33 profile, the initial rental would be £450 + VAT, accompanied by any other initial charges. Following this, you'd have 33 months of £150 + VAT rentals.

The beauty lies in the flexibility offered. You have the choice to opt for 1, 3, 6, 9, or 12 initial rentals over the selected finance term. Some of our finance providers even offer the option of just 1 initial rental, making subsequent payments consistent but at a higher monthly cost.

Our aim at Millbrook is to ensure clarity and choice in your finance journey, making every step as comprehensible and adaptable as possible.