About Leasing

Business Finance:

Contact Hire

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. Roadside rescue, maintenance and relief vehicle provision are options that can be added and changed to the monthly rental.

The benefits of Contract Hire:

• Up to 100% tax deductable depending on cost of vehicle
• Low initial outlay
• Flexible contracts
• No residual risk
• No disposal issues
• Optional relief vehicle whilst yours is off the road
• Capital not tied up in a depreciating asset
• Off-balance sheet borrowing/accounting
• Fixed cost and optional maintenance
• VAT on rentals reclaimable

Finance Lease

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:

• Ownership at the end of the contract
• Fixed monthly costs
• Flexible contracts
• Low initial outlay
• Business capital not tied up in a depreciating asset
• VAT on rentals reclaimable

Contract Purchase

For companies with high-value cars who would like the option to purchase the vehicles, but don’t want any depreciation risks. The customer acquires the vehicle by paying fixed monthly instalments with the asset being shown on the company balance sheet, and can either retain ownership at the end of the contract or hand the vehicle back.

The benefits of Contract Purchase:

• Low initial outlay
• Eventual ownership
• No residual risk
• Interest charges claimable against tax
• More capital to invest in your business
• Flexible contract
• Optional final payment
• Rentals allowable against tax
• Writing down allowance
• Fixed monthly costs
• No disposal problem
• Optional maintenance package
• Optional relief vehicle

Lease Purchase

For non-VAT – registered companies and private individuals that want eventual ownership of the vehicle. A funding agreement where the company or individual 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:

• Fixed monthly cost
• Ownership at the end of the lease
• Flexible contract
• Balloon Payment
• Low initial outlay
• Business capital not tied up in a depreciating asset
• Finance not subject to VAT
• Interest reclaimable against tax
• Writing down allowance

Personal Finance

Personal Contract Purchase (PCP):

Similar to Hire Purchase - with the added advantage of a guaranteed future value on the vehicle (GFV) at the end of the period. PCP is for private individuals who want the option of eventual ownership coupled with the security and peace of mind of the Finance Company guaranteeing the vehicles value (subject to normal wear and tear and an agreed mileage) at the end of the period.

A low initial deposit is payable, followed by a fixed monthly payment for the period of the loan. At the end of the agreement the guaranteed future value (GFV) becomes relevant and there are 3 end of contract options:

• The vehicle may be owned by paying the guaranteed future value.This value is fixed at the start of the agreement and will be as stated on the original documentation.
• The car can be handed back to the Finance Company and another car chosen and funded through European Finance , subject to the vehicle meeting the conditions in the agreement.
• The vehicle may be part exchanged against a new vehicle using any equity, the difference between the cars trade in value and the guaranteed future value, as deposit.

Hire Purchase

You enter into an agreement over a fixed period at a fixed instalment. Upon payment of the final instalment the vehicle becomes yours. A balloon payment can be incorporated as can low deposits.

The Benefits of Hire Purchase:

• An alternative funding line to bank overdrafts.
• Ownership at the end of the contract
• Low initial outlay
• Flexible contract
• Interest reclaimable against tax
• Writing down allowance
• Fixed monthly cost
• Business capital not tied up in a depreciating asset

Lease Purchase

For non-VAT – registered companies and private individuals that want eventual ownership of the vehicle. A funding agreement where the company or individual 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:

• Fixed monthly cost
• Ownership at the end of the lease
• Flexible contract
• Balloon Payment
• Low initial outlay
• Business capital not tied up in a depreciating asset
• Finance not subject to VAT
• Interest reclaimable against tax
• Writing down allowance