Am I Eligible?

We are fully trained to advise you on the suitability of each finance option and will make the appropriate recommendations according to your requirements.

With the options available, we are confident we can find the correct product for your particular needs. Whether you decide on leasing or purchase, why not take advantage of our incredible buying power and the excellent discounts we have in place with our numerous national suppliers.

The eligibility criteria is very specific and we ask set questions to find out the necessary information to propose you for credit, such as:

1. 1.Are you over 18?
2. 2.Do you have 5 years of address history?
3. 3.Have you been employed for at least 5 years?
4. 4.Have you been declined for finance in the past?
5. 5.Do you have any adverse credit?

If you are a business we will ask:

1. 1.Your trading duration?
2. 2.Any declined finance decisions?
3. 3.Are you willing to provide a directors guarantee?

Listed below are six products that we offer and the detailed key features of each. Should you require any further information please contact us on 01424 863456.

Business Contract Hire

Business Contract Hire is our most popular product, with the majority of our customers opting for this most straightforward lease from start to finish. With a Contract Hire agreement, the vehicle is hired out for the agreed term, with an agreed mileage, at a fixed monthly rental. If you are looking for a product that removes all of the stress and hassle of maintaining a vehicle, you can choose to include full maintenance package within your Contract Hire agreement. The vehicle remains the property of the funder, so you are not affected by residual value of the vehicle. At the end of the contract, the vehicle will simply be collected by the funder leaving you free to select your next vehicle.

The costs incurred from a Business Contract Hire agreement may be able to be offset against your businesses taxable profits, making it a highly tax efficient option.

Business Contract Hire Advantages

• Effective budgeting through ease of fixed monthly payments
• Initial Rental is usually equivalent to only three monthly payments
• Delivery and collection of the vehicle arranged for you
• We organise disposal of the vehicle
• You may be able to benefit in tax savings as the vehicle is not classed as a business asset
• Up to 100% of the VAT on the contract can be reclaimed if your business is VAT registered
• The risks of depreciation are not carried by your business
• Residual Value risk is carried by the finance company, not you
• Option to take a contract between 24 and 60 month terms
• At the end of the contract you are free to take out a new lease on a brand new vehicle
• Road Fund Licence included for the duration of the contract
• You can select a full maintenance package with the advantages this offers

Business Contract Purchase

Business Contract Purchase is a good choice for those that require full ownership of the vehicle. This option enables you to pay the minimum amount of capital in advance and have fixed manageable monthly repayments with a pre-agreed fixed interest rate for the entire term.

At the end of the contract, you will be able to purchase the vehicle by paying a sum of money direct to the financing company. The amount to pay is agreed at the start of the contract and is known as the Guaranteed Future Minimum Value. Alternatively, the vehicle can be handed back to the funder at the end of the fixed term, leaving the funder to dispose of the vehicle. If the vehicle is handed back to the funder, then excess mileage costs will apply if the vehicle has exceeded the contractual mileage.

Business Contract Purchase Advantages

• Effective budgeting through ease of fixed monthly payments
• Initial Rental is usually equivalent to only three monthly payments
• The option of buying, selling or trading in the vehicle once the contract has expired
• Suitable for non VAT registered businesses
• Interest charges can be claimed against tax
• If vehicle is returned, the responsibility of disposal is eliminated
• No depreciation risk
• Residual Value risk is carried by the finance company and not your business

Hire Purchase/Lease Purchase

With a Hire Purchase / Lease Purchase arrangement, you can either pay lower monthly payments combined with a final payment at the end of the lease term, or make higher monthly payments throughout the term which covers the full value of finance, leaving a balance of zero at the end of the term. The final payment is a pre-agreed amount, often based on the projected residual of the vehicle at that given point in time. This option brings the added benefit of no additional mileage penalties at the end of the lease.

Hire Purchase Advantages

• Contract charges are VAT exempt
• No additional mileage penalties are incurred
• Interest charges can be offset against your taxable profits
• The vehicle will appear on your balance sheet as an asset
• Can release capital to be used in other areas of business
• You have complete ownership of the vehicle
• Initial VAT payment is reclaimable if your business is VAT registered

Finance Lease

With a Finance Lease arrangement, you will pay a minimum Initial Rental and fixed monthly payments with fixed monthly interest charges. The vehicle remains the property of the finance company for the lease term, which can bring you several tax advantages. The lease can be tailored to your needs and so a large part of the outlay can be deferred to the end of the lease contract, in the form of a final payment.

Finance Lease is perfect if you are VAT Registered as nearly all of the VAT can be reclaimed if the vehicle is used for business only. If the vehicle is also used for personal use too, then 50% can be reclaimed.

At the end of the agreed lease period, you are able to either sell the vehicle and clear any outstanding balance on the finance agreement, or nominate the funder to sell the vehicle on your behalf. If you do not raise the required amount to clear the balance from the sale of the vehicle, then you will need to pay the difference to the finance company. The finance company will also keep a small proportion (typically 2.5%) of the sale proceeds of the vehicle. Finance Lease offers flexibility in how the financial balance of the vehicle can be cleared, and as such is an attractive option for most businesses.

Finance Lease Advantages

• Vehicle Finance can be tailored to meet your specific cash flow requirements
• No additional mileage penalties are incurred
• Initial Rental is usually equivalent to only three monthly payments
• Rentals can be claimed against tax
• VAT can be reclaimed on the finance agreement provided you are VAT registered
• The vehicle will appear on your balance sheet as an asset
• At the end of the contract you are free to take out a new lease on a brand new vehicle

Personal Contract Hire

Personal Contract Hire gives you flexibility with your lease vehicle. This option enables you to drive a brand new vehicle without having to pay the full purchase price.

Personal Contract Hire Advantages

• Effective budgeting through ease of fixed monthly payments
• Small Initial Rental (typically three monthly payments in advance)
• Delivery and collection of the vehicle arranged for you
• Disposal of the vehicle is not your responsibility
• The risk of depreciation is removed
• Residual Value risk is carried by the finance company, not you

Personal Contract Purchase

Personal Contract Purchase is perfect for individuals wishing to purchase a new vehicle whilst benefiting from the best deals and flexible pricing options. You can sell or part exchange your vehicle for a brand new one at any point during your contract term, which gives you full control when it comes to flexibility and choice of vehicle. This option is a popular choice for individuals that have chosen to opt out of their company vehicle scheme.

Personal Contract Purchase Advantages

• Effective budgeting through ease of fixed monthly payments
• The option of buying, selling or trading in once the contract has expired
• Small Initial Rental (typically three monthly payments in advance)
• The risk of depreciation is removed
• Residual Value risk is carried by the finance company, not by you