We also offer Finance Lease to businesses. Your business leases the vehicle and then pays an effective rental rather than a repayment. This monthly rental is calculated from the vehicle cost, length of the lease and the residual value (ie. The future value of the vehicle at the end of the term) plus interest.
During the lease, you have full use of the vehicle. Up to 50% of the VAT payments on passenger cars and 100% of the VAT on commercial vehicles (provided no private use) could be reclaimed and the vehicle can sit on your balance sheet as an asset.
- Minimum capital expenditure which helps your cash flow
- No depreciation costs
- Fixed monthly costs which can be offset against profits
- No damage recharge as you are responsible for disposal of the vehicle
- Ongoing advice and support
- Road Fund Licence included for first year
- Operating risk associated with the vehicle
- You must have fully comprehensive insurance
- You will have no option to own the vehicle as the vehicle must be sold to a third party at the end of the contract