We offer finance on all our vehicles. There are many different ways to finance a car so with our knowledge we can help you find what’s best for you. We work with all the local Finance companies Blackhorse, Conister & Investec.
Options include competitive tailored packages, Zero deposit, Balloon payments & payments from 1 to 5 years.
Applying for finance is very easy, we only need a few details and approval can be completed in just a few hours. Finance is subject to status, please ask us for a written quotation
With a Finance Lease your vehicle is hired to you for a fixed period, without you owning it. Following payment of your final monthly rental, the vehicle must be sold to a third party. The rental payments include VAT, which you may be able to recover if you are VAT registered. At the end of the agreement period, three options are available to you.
Retain the vehicle for a further 12 months by extending the agreement. This option may be exercised only once (if your contract is regulated under the terms of the Consumer Credit Act 1974 this option is not available to you).
Sell the vehicle to an independent third party for a fair market value. We will invoice the third party on your instruction and then return 95% of the net sale proceeds to you.
Return the vehicle to us. We will then sell it at a return to you of 95% of the net sale proceeds, after deduction of auction and collections fees.
Finance Lease Benefits
- Use without ownership of the vehicle
- Eliminates capital expense
- Improved cash flow
- VAT reclaimable
- You benefit from the net sale proceeds
- Rentals allowable against taxable profits (proportionally)
You pay a deposit – the actual amount is negotiable – and the remaining cost plus interest charge is repaid by regular monthly payments. You can also choose from fixed or variable interest rates. A variable interest rate means your monthly payments are likely to change from time to time as the amount of interest, which forms part of the monthly payments, is linked to movements in Finance House Base Rate.
Hire Purchase Benefits
- Ownership of the vehicle
- Flexible deposit
- Repayments over a fixed period
- Fixed or variable interest rates
- Benefits to Businesses Payments not subject to VAT
- Interest may be allowable against taxable profits
- Writing down allowance are claimable
- Vehicle appears as an asset on the balance sheet
- Additional line of credit.