Finance Options to suit your business

Quick Overview 

You hire the vehicle over a period of time typically 2-4 years.

You can claim 100% of the VAT back if it's a van and typically 50% if it's a car.

Add a maintenance package so all your servicing costs are included. 

The Good

Low initial rental and monthly payments.

Brand new car every few years which are under manufacturer warranty.

At the end you simply hand the vehicle back and get a new one.

No depreciation worries.

The Bad

You set your mileage at the start of the contract (can be changed) if you exceed the total mileage there is a pence per mile charge.

If you cause excessive damage (above BVRLA Guidelines) you maybe charged to have it fixed.

You do not own the car!

Quick Overview 

You hire the vehicle over a period of time typically 2-4 years.

You can claim 100% of the VAT back if it's a van and typically 50% if it's a car (100% if it's a pool car)

Add a maintenance package so all your servicing costs are included. (this will be subject to mileage terms) 

The Good

Low initial rental and monthly payments with a balloon payment added to the end.

Brand new vehicle or you can choose a used vehicle.

Pay the VAT Monthly rather than one upfront payment.

With a new vehicle it will be under manufacturer warranty.

At the end you simple choose to sell the vehicle or pay a peppercorn* rental to keep the vehicle for another year.

There is no mileage or damage costs but this may affect the resale value if different to expected mileage or increased damage.

The Bad

You do not own the vehicle although you can enter into a peppercorn* rental arrangement to keep the vehicle for longer.

If the vehicle depreciates more than the balloon payment, you will have to cover any deficit.

The finance company typically charge a 5% sales fee. (Subject to funder)

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*A peppercorn rental is a payment made to the finance company once a year so that the vehicle remains as a 'Lease vehicle' The payment is typically one month's rental once a year. 

Quick Overview 

You purchase the vehicle over a period of time typically 2-5 years.

You can claim 100% of the VAT back if it’s a van but not able to reclaim VAT on car purchases.

You can add a separate maintenance package, so all your servicing costs are included. (this will be subject to mileage terms and on new vehicles only).

The Good

At the end of the contract, you will own the vehicle once the option to purchase fee is paid. 

Brand new vehicle or you can choose a used vehicle.

With a new vehicle it will be under manufacturer warranty.

There is no mileage or damage costs. 

The Bad

You normally have to pay a minimum 10% deposit + VAT which is 20% on vans. 

You are not able to reclaim VAT on cars. Deposit on cars is typically 10% only 

It will be your responsibility to sell the vehicle at the end, but you will receive 100% of the sales value.

Quick Overview 

You purchase the vehicle over a period of time typically 2-5 years.

You can claim 100% of the VAT back if it’s a van but not able to reclaim VAT on car purchases.

You can add a balloon payment to reduce the monthly payments.

You can add a separate maintenance package so all your servicing costs are included. (this will be subject to mileage terms and on new vehicles only) 

The Good

At the end of the contract you will own the vehicle once the balloon payment and purchase fee is paid. 

Brand new vehicle or you can choose a used vehicle.

With a new vehicle it will be under manufacturer warranty.

There is no mileage or damage costs.

The Bad

You normally have to pay a minimum 10% deposit + VAT which is 20% on vans. 

You are not able to reclaim VAT on cars. Deposit on cars is typically 10% only 

It will be your responsibility to sell the vehicle at the end but you will receive 100% of the sales value.

If the vehicle depreciates more than the balloon payment, you will have to cover any deficit.