Contract Hire

A popular choice for VAT registered companies who require minimum outlay and maximum control of costs, especially if you take a maintained package where servicing is included. With this VAT-beneficial package each monthly payment covers all the risks, including the costs of depreciation and disposal for an agreed period of time at a set annual mileage. Your road fund licence is also included in a Contract Hire agreement and options such as breakdown cover, maintenance and relief vehicle can be added for an additional charge.

Contract Purchase

Ideal for companies with high-value cars who would like the option to purchase the vehicles but don’t want any depreciation risks. This funding option is a set monthly payment but the asset shows on the company balance sheet and at the end of the contract you can either retain ownership or hand the vehicle back. Contract Purchase has the added benefits of savings on maintenance and relief vehicles and road fund licence.

Lease Purchase

This is the funding option for non-VAT-registered company that eventually want ownership of the vehicle. Ownership is acquired at the end of the contract when all the monthly instalments and the option to purchase fee have been paid. Part of the capital cost of the vehicle can be deferred and paid at the end of the contract. This is referred to as a balloon payment and is the anticipated market value of the vehicle at the end of the leasing period.

Finance Lease

This option is ideal for VAT registered companies who want to handle the administration of their own vehicles and have the vehicle showing as an asset on their balance sheet. A VAT-beneficial option where you can choose to pay the entire cost over the leasing period, plus an interest charge, or pay lower monthly rentals and a final payment based on the anticipated resale value of the vehicle.

Personal Contract Purchase

The option for private individuals who want a cost-effective way to finance and maintain their vehicles. Personal contract purchase (PCP) allows you to enjoy significant tax advantages and a choice of a new vehicle every two or three years in exchange for a fixed monthly charge that’s easy to budget. Optional maintenance and breakdown packages can be added for an additional cost.