Meeting your requirement Contract Hire Contract Purchase Lease Purchase Finance Lease Drivewise Personal Contract Hire Outright Purchase
VAT recoverable on monthly rentals *     *      

Finance/Taxation Benefits
Accurate monthly budgeting  
Improved cash flow  
Minimum capital expenditure  
Fixed interest rate N/A
Capital allowances available     N/A    
Rental allowable against taxable income       N/A  
Ownership of vehicle ±   ≠   ≠  
VAT chargeable on rental       ^  
VAT recovered on purchase cost by network and passed on to customer in lower rental        
No depreciation risk      

Vehicle Running Requirements
No vehicle disposal problems      
Reduced administration  
On-going advice support  
Road fund licence provided ** ** ** **  
Breakdown rescue provided ≠      
Relief vehicle ≈ ≈ ≈       ≈  
Fixed charge maintenance ≠      
VAT chargeable on services      
VAT recoverable on services     N/A N/A  
Insurance Products offering ***  

 

± At end of contract with financing products

** Road fund licence is provided for first year only

^ charged  unclaimable on product type

≠ Optional

*** Available through our 3rd party provider but not financed by Network

≈ optional only if maintenance is taken

* Only 50% of the VAT relating to the finance element is recoverable if private use. 100% if only business use. 100% of the service element VAT (on contract hire only) is recoverable if business use.