Finance

How you finance your vehicle can be an important business decision.

There are several factors to take into consideration such as how many miles a year you intend to do, how long you intend to keep the vehicle for and do you wish to own the vehicle or send it back at the end of the agreement?

Below is a brief guide to the various forms of finance. For more detailed information please ring our sales team on 0845 6 121 252 but we always advise you seek the opinion of your accountant as they know your business better than us.

Hire Purchase

  • Typically 10% deposit + All VAT
  • Your choice of repayment period from 24 to 60 months 
  • VAT deposit reclaimable (VAT registered customers)
  • Interest charges can be offset against your taxable profits
  • The vehicle is an asset and as such you claim depreciation against your profits
  • You own the vehicle at the end of the term

Finance Lease

  • Typically 3 x monthly payments + the VAT on the payments as deposit
  • Repayment period of between 24 and 60 months
  • Monthly payments are subject to VAT
  • VAT is reclaimable if VAT registered (tax deductible if not VAT registered) 
  • Monthly payments are 100% deductible against taxable profits
  • You can reduce your monthly payments with a deferred or 'final balloon' payment based on the resale value of the van at the end of the term aiding cash flow
  • You retain typically 99% of the resale or trade in value of the van at the end of the term 
  • No mileage restrictions or condition penalties apply

Contract Hire

  • Typically 3 x monthly payments + the VAT on the payments as deposit
  • Repayment period of between 24 and 60 months
  • Monthly payments are subject to VAT
  • VAT is reclaimable if VAT registered (tax deductible if not VAT registered) 
  • Monthly payments are 100% deductible against taxable profits
  • Fixed maintenance package to include services, repairs, tyres, dependant on contract type
  • At the end of the contract, simply hand the vehicle back
  • The vehicle is subjected to an inspection, where any reconditioning costs are charged to the customer 
  • The contract is mileage sensitive and there are charges for excessive mileage

Credit Cards

We now take all major credit* and debit cards - making placing a deposit on your new vehicle much easier.  You can also pay for the entire cost of your vehicle using your credit or debit cards.
 
*Please note that there is a 2% surcharge on all credit card transactions. There is no charge for using debit cards.