Business Contract Hire
A popular choice for VAT registered businesses as this is a VAT beneficial financing package, one regular payment covers all for an agreed term and mileage.
Road fund licence is included and at the end of the term, you just hand back the car.
Ideal for VAT registered companies that want to handle the admin of their vehicles and have the asset shown on the balance sheet.
A VAT beneficial finance option were the hirer can choose to pay the entire cost over the agreed lease period, plus an interest charge, or pay lower monthly prices during the lease period with a final payment based on the anticipated resale value of the vehicle
For businesses with high value cars that would like the option to purchase the cars but do not want any depreciation risks.
The company acquires the car by paying fixed monthly payments with the asset being shown on the companies balance sheet and can either retain ownership at the end of the contract or hand the vehicle back.
Lease Purchase/ Hire Purchase
For non-VAT registered companies or individual that want ownership of the vehicle at the end of the contract.
A funding agreement where ownership is acquired when all the payments, including the option to purchase have been made. Part of the capitol cost of the car payment may be deferred into a balloon final payment at the end of the lease agreement, the anticipated value of the vehicle. If ownership is not important and the company is VAT registered, the best leasing option would be Contract Hire.