A flexible business contract which can be settled early.

With a finance lease you choose to pay either the entire cost of the vehicle including interest charges over an agreed lease period or opt to pay lower monthly rentals with a final payment based on the anticipated resale value of the vehicle.  The user benefits with a fixed cost but does take on the administration and operating risks, such as unexpected maintenance repairs and losses in residual value.

At the end of the contract you can continue to operate the vehicle for a nominal fee.  Ownership remains with the leasing company for the duration of the contract, but the car does appear on your balance sheet with the capital element of the outstanding rentals representing a liability.  Some or all of the rental charge can be offset against taxable profits.

• Choose from any make or model of vehicle, new or nearly new
• There are no mileage restrictions.
• Contract periods can be selected from between 24 months and 60 months, with or without a balloon payment at the end of the contract (subject to the age of the vehicle at the start of the contract).
• Typically a minimum initial payment equivalent to three monthly payments is required.
• Fixed monthly rentals.
• VAT on new and VAT Qualifying cars is recovered by the finance company and passed on to the customer via lower rentals. 
• You bear all the running costs for the vehicle.  (ServicePlan is available separately, click here for details)
• For cars, V.A.T is reclaimable at 50%, assuming a combination of business and private mileage is covered .
• VAT is 100% reclaimable on commercial vehicle rentals.
  
• Tax Allowances are CO2 based up to 160g/km, which is 100% allowable.  Over 160g/km is 85% allowable.
• You retain 98% of any equity in the vehicle after paying the final residual/balloon payment (if applicable).
• Various options are available at the end of contract, including refinance, sale, part exchange providing flexibility at that time.

A fixed term business contract which can incorporate maintenance for accurate monthly budgeting.

Contract Hire is a popular way of hiring a business vehicle, whereby a vehicle is lease to a business for a specified time and mileage in return for an initial fee (typically equivalent to 3 monthly rentals) and a subsequent monthly charge. 

This type of hire removes many of the risks associated with vehicle ownership, such as depreciation, servicing costs and eventual sale.  However, the hirer could lose any potential benefits of vehicle ownership such as running costs or an unexpected upturn in the residual value a particular vehicle.

A contract hire vehicle does not have to be shown as an asset on your balance sheet because it is owned by the leasing company.   Some or all of the rental charge can be offset against taxable profits.

• Usage of the vehicle is provided over the contract period. Payments can include routine servicing and necessary repair costs (excluding accident damage), as well as breakdown & recovery
• Choose from any make or model of vehicle, new or nearly new
• VAT is 100% reclaimable on the management element (ie maintenance) of the monthly rental.
• For cars, VAT is 50% reclaimable on the vehicle rental assuming some private use of the vehicle or 100% for no private use - contact us for more details.
• VAT is 100% reclaimable for commercial vehicles
• You bear the costs of any excess mileage.
• At the end of the contract the vehicle is simply returned or you may choose to extend the contract.
• Contract periods can be selected from between 24 months and 60 months, with or without a balloon payment at the end of the contract (subject to the age of the vehicle at the start of the contract)
• Typically a minimum initial payment equivalent to three monthly payments is required.
• Fixed monthly rentals.
• VAT on new and VAT Qualifying cars is recovered by the finance company and passed on to the customer via lower rentals. 
• Tax Allowances are CO2 based up to 160 g/km which is 100% allowable and over 160 g/km is 85% allowable.

Personal Contract Hire: Contract Hire for Private Individuals

• Contract terms available between 24 and 60 months (subject to the age of the vehicle at the start of the contract)
• Choose from any make or model of vehicle, new or nearly new
• Fixed monthly rentals.
• Typically a minimum initial payment equivalent to three monthly payments is required.
• Road Fund Licence is provided throughout the contract period.
• Usage of the vehicle is provided over the contract period. Payments can include routine servicing and necessary repair costs (excluding accident damage), as well as breakdown & recovery
• You bear the costs of any excess mileage.
• At the end of the contract the vehicle is simply returned or you may choose to extend the contract.

A 'Purchasing' style contract suitable for non-VAT registered companies who require eventual ownership of the vehicle.

This is a method of financing a purchase with the vehicle becoming the property of the lessee at the end of the period.  The monthly payment is determined by the amount of deposit paid, the period of the contract and the sale price of the vehicle.  There is usually an option to have a final balloon payment, thus reducing the monthly payments, and on payment of this balloon amount legal ownership passes to the user who can choose to keep or sell the vehicle.

The loan is secured against the vehicle.  In the event of the vehicle being sold before the end of the agreement the user would still be required to pay the loan back in full. 

The vehicle appears on the balance sheet and purchase can claim a capital allowance for its depreciation as an asset.

The interest elements of the lease purchase fee can be offset agains taxable profits.

• Choose from any make or model of vehicle, new or nearly new
• Contract periods can be selected from between 24 months and 60 months, with or without a balloon payment at the end of the contract (subject to the age of the vehicle at the start of the contract).
• There are no mileage restrictions.
• Typically a minimum initial payment equivalent to three monthly payments is required.
• Fixed monthly rentals.
• You bear all the running costs for the vehicle.  (ServicePlan is available separately, click here for details)
• The contract can be settled early.
• Title passes to the end user when all payments have been made including any balloon and the option to purchase fee
• You retain 100% of any equity in the sale of the vehicle.

   

A contract for businesses and professionals with optional maintenance and a choice to return or buy at the end of the contract period.

The customer purchases a vehicle by monthly instalments covering the cost of the vehicle and an interest element.  The monthly fee will include any charge for additional services such as maintenance.  There is usually a final balloon payment and on payment of this legal ownership passes to the user and they can choose to keep or sell the vehicle.  Alternatively the vehicle may be handed back to the finance company.

Ownership, for tax purposes, passes to the user on the day the contract is signed meaning that its cost can be written down on the balance sheet by claiming capital allowances.

• Contract periods can be selected from between 24 months and 60 months, with or without a balloon payment at the end of the contract (subject to the age of the vehicle at the start of the contract).
• Choose from any make or model of vehicle, new or nearly new
• Typically a minimum initial payment equivalent to three monthly payments is required.
• Road Fund Licence is provided throughout the contract period.
• Maintenance and/or Breakdown & Recovery can be incorporated into the monthly payment.
• Fixed monthly rentals. 
• You bear the cost of any excess mileage.
• At the end of the contract the final payment is guaranteed, giving you the option to simply return the vehicle at no extra cost, assuming no more than the total contract mileage is covered.
• You also have the option to buy the vehicle at the end of the contract for the guaranteed final payment. You may wish to then sell the vehicle, thereby allowing you to benefit from any equity in the sale.
  

A Personal Contract Purchase contract allowing the private individual to use a vehicle for the contract period and then return at the end or take the option to buy for a guaranteed figure.

The employee finances a vehicle for a contract period of their choice, and can take an optional maintenance package and roadside assistance for peace of mind.  At the end of the agreement the employee/customer has various options; they can return the vehicle, part exchange it for a new one or purchase the vehicle outright.

PCP is ideal for employees that are opting out of a company car scheme because they can use their company car allowance to fund their monthly PCP payments without paying company car tax.  it also allows them to benefit from fleet discounts and our fleet bulk buying power thus providing lower monthly payments and consequently the ability to choose a higher specification vehicle. 

• Choose from any make or model of vehicle, new or nearly new
• Contract periods can be selected from between 24 months and 60 months, with or without a balloon payment at the end of the contract (subject to the age of the vehicle at the start of the contract).
• Usage of the vehicle is provided over the contract period. Payments can include routine servicing and necessary repair costs (excluding accident damage), as well as breakdown & recovery
• Typically a minimum initial payment equivalent to three monthly payments is required.
• Fixed monthly rentals.
• At the end of the contract the vehicle is simply returned or you may choose to extend the contract.
• You bear the costs of any excess mileage.