BUSINESS CONTRACT HIRE
Contract Hire is a popular choice for V.A.T registered companies with more than 40% of companies choosing this funding method. 

Having minimum outlay and maximum control of costs along with the tax advantages and reduced administration assists business to budget accurately for their vehicle needs. Contract Hire is available for Sole Traders, Partnerships and Ltd Companies.

Finance/ Taxation Benefits

• Accurate monthly budgeting
• Off balance sheet
• Improved cash flow
• Minimum capital expenditure
• Fixed interest rates
• Rentals allowable against taxable income
• V.A.T recoverable on monthly rentals*
• No depreciation risks
  

* Only 50% of the V.A.T relating to the finance element is recoverable if car has any private use. 100% if business only. On contracts with maintenance the VAT on the service element is fully recoverable.

Vehicle Running Benefits

• No vehicle disposal problems
• Reduced administration
• On-going advice and support
• Road Fund Licence provided for duration of contract
• Optional maintenance packages available  
• Optional replacement vehicle cover in event of breakdown
• Optional GAP Insurance*
  *GAP Insurance provides cover for the short-fall between the outstanding finance payable and the insurance value if vehicle is declared a write-off by your insurance company.

CONTRACT PURCHASE
For companies who run high value cars and who would like the option to purchase but want to avoid any risk of depreciation .

A funding agreement where you acquire the vehicle by paying fixed monthly instalments with the asset being shown on the balance sheet, with an option to retain ownership at the end of the agreement or return the vehicle.

• Fixed cost motoring
• Low initial payments
• Fixed interest rates
• Road Fund Licence for duration of contract
• Capital allowances available
• Optional maintenance packages available 
• Option to purchase or return vehicles at end of contract

FINANCE LEASE
Suitable for V.A.T registered companies who want to handle the administration of their vehicles, and have the asset shown on their balance sheet.

This V.A.T beneficial option allows you to choose to pay the entire cost over the hire period including interest charges or pay a lower rental during the contract and pay a final rental based on the anticipated resale value of the vehicle.

• Low Initial Payments
• Fixed Cost Motoring
• Fixed Interest Rates
• V.A.T Recoverable on Rentals*
  * Only 50% of the V.A.T relating to the finance element is recoverable if car has private usage. 100% if business use only.

Your vehicle is hired to you for a fixed period without the option of ownership. Payments cover both the initial cost of the vehicle and the finance charges. At the end of the contract the vehicle must be sold to an independent 3rd party (or alternatively we can dispose of it for you), you receive the proceeds from the sale of the car, less a small fee.

Benefits to you:

• Use of the car without ownership
• Elimination of capital expense
• Better cash flow with fixed monthly rental
• VAT is reclaimable depending on usage
• Rentals allowable against taxable profits (proportionally)
• Use of the vehicle without a large capital outlay
• Business could benefit from the net sale proceeds

LEASE PURCHASE
Finance product for Non V.A.T registered companies that prefer eventual ownership of their vehicles.

These agreements are designed as a purchase agreement where in some cases the final balloon can be adjusted to reduce or increase the monthly rentals. There is no option to return the vehicle with nothing further to pay. The balloon must be settled and you/ the company take ownership of the vehicle when all payments have been made. The disposal and residual value risks remain with you.

• Low initial payments
• Improved cash flow
• Capital allowances available
• Ownership of vehicle