Hire Purchase
Hire Purchase is a simple, cost-effective route to purchasing your vehicle.
- Low Deposit - Vat Only (or more, if you prefer)
- Flexible Repayment period - up to 60 months
- Fixed Monthly Repayment aids budgetary control and cashflow
- Monthly repayments are vat free
- VAT deposit reclaimable (VAT registered customers)
- 100% of interest charges can be offset against taxable profits
- Vehicle is an asset on your balance sheet and benefits from the normal writing down allowances.
- Ownership of vehicle will pass when the agreement is completed
HP Plus
HP Plus is our version of Contract Purchase which gives you all of the benefits of Hire Purchase (i.e. ownership of the vehicle) with all of the benefits of Contract Hire (i.e. no risk). It does sound too good to be true but there really are no catches - you own the vehicle and we give you a guaranteed future value so at the end of term you can either hand the vehicle back and owe nothing or pay the balloon and keep it or sell it.
- Deposits are typically 3 payments + all VAT (just like Hire Purchase).
- Flexible Repayment period - up to 60 months.
- Fixed Monthly Repayment aids budgetary control and cashflow.
- Guaranteed Future Value of the vehicle (no risk of depreciation).
- Monthly repayments are vat free.
- VAT deposit reclaimable (VAT registered customers).
- 100% of interest charges can be offset against taxable profits.
- Vehicle is an asset on your balance sheet and benefits from the normal writing down allowances.
- Ownership of vehicle will pass when the agreement is completed
- Maintenance available if required
- Road Fund License (Road Tax) included for the whole term
Finance Lease
This facility provides the customer with the benefits of ownership with minimum deposit and maximum flexibility
- Deposits are usually the equivalent of three rentals. but can be any amount whatsoever.
- Repayment period of up to 60 months.
- VAT is paid monthly, then claimed back in your normal VAT cycle(if VAT registered).
- Rentals are 100% allowable against taxable profits.
- Facility can have a balloon profile, which defers a large payment to the end of the contract - thus reducing monthly rental and aiding cashflow.
- Vehicle sold or part-exchanged at end of contract so that the hirer benefits from 95% of sales proceeds.
- Ideal for business users looking for low initial deposit and maximum flexibility.
- No mileage clauses.
Contract Hire
Comprehensive, fixed cost solution where use of your commercial vehicle is important, but without the responsibilities of ownership.
- Deposits are anything from 1 monthly rental upwards.
- Total budgetary control: you will never pay any more (or less) than the fixed monthly rental.
- Monthly repayments are subject to VAT.
- Rentals are 100% allowable against taxable profits.
- Optional fixed maintenance package to include services, repairs and tyres.
- At the end of the contract, we will collect the vehicle and deliver you a new one - simple!
Are you confused by all these finance methods? If so, don't worry, just call us for a free Finance Consultation and we'll discuss the pro's and cons of all types of Finance, to make sure you get the right one. Our number is 0845 021 0333.
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Options for Funding your Van
