Vehicle finance can be confusing so we've included this brief guide, for more details, or a tailored quote, call us FREE on 0800 321 3625 or click here and we'll call you back at a time thats convenient to you.
Hire Purchase
Ownership at the end of the agreed term –
Once the agreement has ended, you can sell the vehicle and keep 100% of the proceeds for the sale.
Negotiable Deposit –
Flexibility on the amount put down as your deposit.
Entitlement to writing down allowances –
Can mean that you pay less to the taxman.
Agreement is secured on the asset being financed –
In most cases there is no need to provide additional security.
Fixed term / rate –
Flexible tailored finance to suit your needs. You know exactly what you have to pay and when, allowing you to plan ahead and retain control.
Finance Lease
Two attractive options at the end of the agreement –
Gives you options at the end of the agreement allowing you to base your decisions at the time. You can either continue to use the equipment, or sell it.
Secondary lease period available –
If you decide to continue to use the equipment at the end of the agreement, nominal rentals are payable usually annually (known as a peppercorn rental).
Profit from the sale of the vehicle –
If you decide to sell the vehicle at the end of the agreement, you can do so, and you will be able to keep around 95% of the proceeds from the sale.
Ideal for the deposit on your next vehicle.
Tax efficient –
100% of the rentals allowable against tax. Improvement of the financial ratios such as gearing and on return to capital.
Control –
You are responsible for maintaining, repairing, servicing and insurance.
Contract hire
Low cost rentals –
The residual value is taken into account when calculating the rentals.
Off balance sheet finance –
Does not affect the gearing ratio of the business.
Short-term finance –
Choose a period of hire that suits you.
Use without ownership –
Legal title and risk is retained by the finance company.