CALL TODAY FOR A FREE QUOTE 0161 871 9840
For businesses there are three main types of vehicle finance available.
Finance Lease is a popular agreement for businesses needing cars, vans and commercial vehicles where contract hire is not suitable. It offers flexibility and tax advantages to eligible companies who require one or more vehicle.
If you choose to pay for your car with a Hire Purchase agreement, you will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends and you own the car.
Business Contract Hire is a hire agreement between any trading business (sole trader, LLP, Ltd or PLC) and a finance company. The finance company owns the vehicle, and the lease is essentially paying for the depreciation in value of the vehicle during the contract duration.
Whilst all companies are eligible for hire purchase, finance lease and contract hire is available to sole traders, limited companies, partnerships and self-employed people who are financially eligible.
There are numerous and varied benefits depending on which package you choose. These range from improved cashflow, lower costs, reduced VAT bills and can be claimed as company expense.