Finance
Contract Hire
A popular choice for a VAT registered business that require the benefits of car leasing or van leasing with minimum outlay and maximum control of costs, with the option for maintenance to be included. With this VAT beneficial package, one regular rental payment covers all risks involved in car leasing and van leasing, including costs of depreciation and disposal, for an agreed period of time and mileage. Road fund licence is included, but maintenance and relief vehicles are options that can be added to the rental payment. The monthly rentals are tax deductable.
Finance Lease
Ideal for the VAT registered business that wants to handle the administration of their vehicles and have the asset shown on the balance sheet. A Vat beneficial car leasing or van leasing option, where the hirer can choose to pay the entire cost over an agreed lease period, paying lower monthly rentals during the car leasing or van leasing period with a final payment based on the anticipated resale value of the vehicle.
The monthly payments are tax deductible.
Contract Purchase
For companies that would like the option to purchase the vehicles, but don't want any depreciation risks that can arise with car leasing or van leasing. The customer acquires the vehicle by paying fixed monthly instalments with the asset being shown on the company balance sheet, and can either retain ownership at the end of the agreement or hand the vehicle back. For car leasing or van leasing, Contract Purchase has the added benefit of coming with road fund licence.
Lease Purchase
For a non VAT registered business that wants eventual ownership of the vehicle. A car leasing or van leasing agreement where the company acquires ownership when all the payments have been made. Part of the capital cost of the vehicle payment may be deferred into a balloon payment at the end of the car leasing or van leasing agreement. This balloon payment equates to the anticipated market value of the vehicle at the end of the agreement.
Personal Contract Purchase
For private individuals who want a hassle free and cost effective way to finance a vehicle. You choose the term of the contract and at the end of the agreement you can either return the vehicle or pay the final amount that is agreed at the start of the contract, and retain ownership.
This type of car leasing contract is used by many ex company car users as a method of avoiding company car taxation.
Personal Contract Hire
For private individuals who are looking for the benefits of car leasing but wish to avoid the hassle and risks of ownership. The vehicle is simply handed back at the end of the agreed term and has the advantage of including the road fund licence. Again, this is a method of leasing a new car, where company car taxation can be avoided.