A great, fixed cost solution for small, medium or large companies
This is the most popular type of lease for business clients, if you don’t want the financial risk of running your own car and van fleets, and you don’t want to have to deal with buying and selling your own vehicles. You simply lease it for a set period of time, and hand it back at the end.
Monthly payments are fixed at the start of the lease term, and stay the same (apart from changes in interest rates). There is a small deposit payable at the start of the lease period, normally three monthly payments. The leasing company owns the vehicle (and therefore carries the associated risks) and at the end of the agreement the car or van is returned. Payments are determined from the purchase price of the vehicle, duration of lease, anticipated contract mileage and resale value at the end of the period of the lease.
Road tax is included for the duration of the lease. Fixed cost maintenance, breakdown recovery and a host of other services are also available through the maintenance option.
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Key Features |
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Key Benefits |
- Fixed cost for the length of contract
- Off balance sheet funding as vehicle is registered to leasing company
- Flexible terms and mileage to suit your business
- Low initial outlay
- VAT registered companies can reclaim half the VAT, or all of it on a commercial vehicle if it is not used for personal mileage
- No hassle of vehicle disposal
- Full maintenance & fleet management available through maintenance option
- Road tax is included
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- Accurate budgeting
- No depreciating asset on your balance sheet, improving net worth of your business
- Contracts range from 2-5 years and 6,000 to 50,000 miles per year
- Risk free method of operating business vehicles
- Vehicles are collected on expiry of contract, with no risk of depreciation
- One stop solution
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