Vehicle Finance Options
We offer several finance options to our customers, but not everybody requires the same product. Please feel free to look over the information supplied below to identify which finance contract would be the best option for you to look at. If you still aren’t sure, please don’t hesitate to contact us on: 01606 545 900.
Each type of finance option is described below:
A very popular choice for VAT registered businesses as this is a VAT beneficial financing package, one regular monthly rental fee covers the cost of the vehicle and it’s Vehicle Excise Duty (maintenance can also be included if required) for an agreed period and mileage. All that is required above and beyond that is insurance for legality, and fuel to ensure it runs. At the end of the term, you just hand back the vehicle or extend the hire, the choice is yours.
Personal Contract Hire
Personal Contract Hire (PCH) gives the user a fixed monthly rental for a contract term and mileage. At the end of the contract the vehicle is simply handed back. Popular with company car drivers who are given a car or mileage allowance instead of company vehicle. It allows the individual to make his/her own choice and arrangements. This will avoid benefit-in-kind taxation. At the end of the contract the vehicle is simply handed back and the finance company assumes the risk of the residual value of the vehicle meaning there is no need to worry about depreciation or selling the car on.
Ideal for VAT registered businesses that want to handle the admin of their vehicles and have the asset shown on the balance sheet. A VAT beneficial finance 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.See the chart below to see which vehicle finance method best suits you...