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On this page you will find details regarding Finance or Leasing Cars and Commercial Vehicles  (Vans) by either  Hire Purchase (HP)Lease Purchase (LP)LeasingVehicle Supply

HIRE  PURCHASE (HP) – LEASE PURCHASE (LP)

The most basic method of purchasing a car, simply borrow the money using the vehicle as security. Pay the whole amount back over any period up to 60 months at a fixed rate of interest. Variable rates of interest are available for larger purchases.

Lease Purchase is simply a Hire Purchase agreement where an amount of capital (Residual Value) has been offset until the end of the agreement. This will have the effect of reducing the payments over the period. Similar to Personal Contract Purchase, however, there is no guarantee on the final payment so you won’t have the option of handing the vehicle back at the end of the contract.

Ideally suitable for funding cars that you will keep for many years or specialist items, commercial vehicles etc. Also for commercial vehicles if you are VAT registered.

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LEASING

Only available to business users.

This is a basic rental agreement where the whole value of the vehicle is paid back over the period, with or without a Residual Value. At the end of the agreement the vehicle is sold by you, on behalf of the leasing company, and a percentage of the sale proceeds, usually 90-100% are retained by you as a ‘rebate on the rentals already paid’. For leases without a residual value at the end of the period they can usually be extended for a nominal ‘peppercorn’ annual payment.

Contract Hire is a specialist type of leasing agreement where a third party (the Contract Hire Company) guarantees to take the vehicle back at the end of the agreement and is hence taking the risk on its future value.

Leasing has all the VAT and tax benefits of Contract Hire but you  bear the risk on the vehicles future value as you can’t hand it back at the end. Leasing can be perfect for vehicles that are of a specialized nature, particularly commercials that could give your company good service for longer periods.

Good for non VAT registered businesses buying commercial vehicles as it has the effect of spreading the VAT payable over the period of the contract. Sometimes referred to as a Finance Lease.

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VEHICLE SUPPLY

As we have access to the best ‘fleet’ purchasing terms on new vehicles we are able to assist with straight vehicle supply on most makes. ‘Fleet’ terms are the discounts given to the major fleet purchasers by the vehicle manufacturers. As these companies buy a huge number of cars they are able to get much better savings than a retail customer could negotiate and we are able to pass these savings on to you, our client.

We also have direct access to defleeted company cars, demonstrator vehicles, daily hire cars etc. at trade prices. You can combine all these prices with any of the funding packages available.

 

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