FINANCIAL PRODUCTS
Hire Purchase/Lease Purchase
A straightforward repayment facility where you ultimately own the asset
Key features and benefits
* With ownership you have total control over the asset
* Ownership normally carries the potential for claiming writing down allowances and/or capital grants, including any enhanced first year allowances.
* VAT on the cost of the asset is normally reclaimable*
* Fixed or variable interest rate - you make your own assessment and choose accordingly.
* The interest element of repayments can normally be offset against taxable profit*
* The asset appears on your balance sheet

Typical assets
Virtually all types of equipment, vehicles, plant and machinery

Frequently asked questions....

What Tax allowance can I claim?
You can normally claim writing down allowances on the cash price of the asset as shown in the Agreement. The interest element of your repayments is usually allowable against taxable profit.


Can I reclaim VAT charged on the goods?
Providing you are registered for VAT you can normally claim back the VAT payable on the purchase price of the asset*.


What if the asset is lost, stolen, damaged or destroyed or becomes the subject of a total loss claim during the period of the Agreement?
You are responsible for the asset and for any outstanding balance on the Agreement. Comprehensive insurance, covering at least to the full replacement cost of the asset is therefore vital.


Who is responsible for servicing and repair?
You are responsible for maintaining the asset in good condition. If you fit any replacement or additional parts to the asset, they become the property of the Finance Company until you take ownership of the asset.

*Special rules apply to company cars
 Car/Van Contract Hire
 If you want to reduce costs, then Contract Hire and P.C.P. (Private Contract Purchase) are otions that can be tailored to meet your needs and requirements. Our buying power is passed on to you to give you cost effective funding and service solutions.

 Who do we provide facilities to?
Whatever your fleet size, we can provide a solution to meet your precise needs.


What vehicles do we provide solutions for?
Cars and light commercial vehicles of virtually every make and model.

 Lease
 A popular and flexible method of funding a broad spread of business assets.

 Key features and benefits

* The flexible repayment structure gives you immediate and full use of the asset for a minimal outlay.
* Rentals can be set according to your cash flow - especially beneficial if your business is seasonal.
* Rentals can normally be offset against taxable profit*. Asset treated as 'on-balance sheet'.
* VAT is paid on the rentals not the purchase price*
* The Leasing Company, as the owner of the asset, claims the writing down allowances and these are reflected in the rentals you pay
Typical assets
Virtually all types of vehicles and business equipment.

Frequently asked questions

Can I claim any tax allowances?
The Leasing Company as owners, claims the appropriate writing down allowances and these are reflected in the rentals you pay. You should be able to offset your rentals against taxable profits. If in doubt you should consult your Accountant.


Can I claim the VAT charged on the rentals?
Providing you are registered for VAT, you can normally claim the VAT payable on the rentals*.


What if the asset is lost, stolen, damaged or destroyed or becomes subject to a total loss claim during the period of the lease?
You are responsible for the asset and for any outstanding balance on the Agreement. Comprehensive insurance covering at least to the full replacement cost of the asset is therefore vital.


Who is responsible for servicing and repair?
You are responsible for maintaining the asset in good condition. If you fit any replacement or additional parts to the asset they become the property of the Leasing Company

What happens at the end of the Agreement?
Either we can sell the asset in which case you may be entitled to a rebate of rentals based on the net proceeds of the sale or you can continue to lease the asset for a further period, paying a nominal annual rental. The further period normally lasts for the useful life of the asset.


When the asset is sold at the end of the lease, can I introduce my own buyer?
In most cases the Leasing Company prefers you to introduce a buyer and if a deal is acceptable to both parties, a sales invoice is raised accordingly. Please note, we are unable to sell the asset to you or anyone connected with you.

Contract Purchase
The solution for companies and private individuals who want to own their vehicles but want to avoid the risk of depreciating assets.
* Similar benefits to contract hire regarding fixed payments and flexible terms.
* Maintenance and added value services can be included if required.
* The Contract Hire Company will guarantee the resale value of the vehicle at the end of the contract purchase agreement for a known, fixed amount.
* Ownership passes to the customer at the end of the agreement when all payments have been made
Fleet Funding and Management Solutions - Contract Hire
The solution for companies who want to concentrate on important business activities and avoid the financial risk and administrative burden of owning their vehicle fleet.
* Fixed Rentals - making budgeting plans easier
* Flexible terms to meet your requirements and mileage terms
* Maintenance of vehicles can be included in monthly rentals, spreading the cost.
* Removes depreciating assets from the balance sheet.
* 50% reclaimable on the finance element of the Agreement, 100% on the maintenance element - applicable if vehicle used for business and private use
* 100% of the VAT is recoverable on both the finance and maintenance elements of the agreement - applicable if vehicles are solely used for business purposes.
* Flexible invoicing arrangements to reduce administration.
Sale and Lease Back

For companies who want to release the capital tied up in existing fleets and remove company vehicles from the balance sheet.


We can purchase your existing fleet, dependent on the book value and condition and lease them back to you for an agreed term.
* Removal of vehicles from the balance sheet
* New for Old - clients can benefit from our disposal routes to release the cash value of those vehicles and replace them with new vehicles under contract hire
* All the benefits of contract hire