Finance Options suitable for companies, private individuals, employed & self employed clients.
We specialise in financing & supplying vehicles to clients declined by other leasing & contract hire companies. Whatever your circumstances we can help. This includes clients with previous bad credit and those currently within IVAs and bankruptcy.
Contract Hire - Ideal for VAT registered businesses
Contract Hire is the rental of a vehicle at a fixed monthly amount for an agreed set time and annual mileage. The monthly payment is determined by the cost of the vehicle, the term of the agreement and mileage covered as well as depreciation. Maintenance packages are usually included with Contract Hire, but are optional. Contract Hire is advantageous to VAT registered businesses & companies as the rentals themselves carry VAT. 100% of this VAT can be reclaimed by the company if the vehicle is used solely for business, and 50% if there is an element of private use. 100% of the VAT levied on maintenance can be reclaimed.
Personal Contract Hire - As per Contract Hire
Tailored to private individuals not registered for VAT. More information on the advantages of personal contract hire for private customers, when compared to outright purchase or finance.
Lease to Purchase - suitable for businesses and private individuals
This is a sale agreement, customers contract to purchase the vehicle over a set period of time usually 24- 30 months. There is a final payment of £195 after which legal ownership passes to the user. With this scheme cars are purchased do not carry VAT which makes this option attractive to private customers. Vans are all plus VAT.
Finance Leasing - Vehicle purchase for VAT registered businesses
The finance company buys the vehicle and leases it back to the customer for an agreed period. The payments are technically rentals and not loan repayments and this is why they attract VAT. The payments are calculated on the net price of the goods because the finance company buys the asset and reclaims the original VAT themselves. At the end of the lease the customer sells the asset and retains 95% of the sale proceeds. There are tax advantages of lease because in many circumstances the customers can reclaim the VAT on the payments.
Hire Purchase
Vehicle purchase over an agreed loan period, with fixed monthly payments. The client is the owner but vehicle title does not change until the loan is repaid. Loan repayments do not carry VAT. The capital cost can be written down for tax purposes on a reducing balance basis. Currently up to £3000 capital allowances are available against taxable profits per annum. The interest usually without limit is also allowable against tax. These allowances may be restricted if there is an element of private use.
The following is also available:
The following is also available:
- Vehicle Maintenance
- GAP (Guaranteed Asset Protection) See Financial Terms
- Emergency breakdown cover
To make a application please use our enquiry form.
If you'd like further information please contact us.
