Owning a van is an essential part of everyday life for many businesses. Whether it is having a pickup for the weekend — or running a fleet of vans for your business — we have a number of finance packages to help you fund it.
The most popular choice for VAT – registered and non VAT – registered companies that want minimum outlay and maximum control of costs, especially when the maintenance and relief vehicle options are included. With this VAT – beneficial financing package, one regular rental payment covers all risks, including costs of depreciation and disposal, for an agreed period of time and mileage. Road Fund License is included, but roadside rescue, maintenance and relief vehicle provision are options that can be added and changed to the monthly rental.
The benefits of Contract Hire:
Ideal for VAT – registered companies who want to handle the administration of their vehicles, and have the asset shown on their balance sheet. A VAT – beneficial option where the hirer can choose to pay the entire cost over the agreed lease period, plus an interest charge, or pay lower monthly rentals during the lease period with a final payment based on the anticipated resale value of the vehicle.
The benefits of Finance Lease:
For non-VAT – registered companies that want eventual ownership of the vehicle. A funding agreement where the company acquires ownership when all payments, including the purchase payment have been made. Part of the capital cost of the vehicle payment may be deferred into a Balloon Payment at the end of the agreement, which equates to the anticipated market value of the vehicle at the end of the agreed leasing period.
The benefits of Lease Purchase:
Outright purchase is the simplest way to purchase your vehicle. The cash price of the vehicle is paid upfront, which saves you paying any interest on monthly payments as there are none. From a taxation point of view, you will only be able to claim back the write down allowances. The advantages are:
Do you still have questions? Contact us, and we’d be happy to answer any other queries you may have.