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Leasing your new car or van couldn't be easier and here at Car Leasing Online we have extensive experience in working with businesses throughout the UK and have sourced and delivered thousands of vehicles since we began trading in 2009. When leasing your new vehicle on business lease there are a number of finance options available, shown below is an overview of what is available.Read More
Contract Hire - this allows business to to hire cars and vans over a predetermined period of time, usually between 2-3 years and the payments each month are fixed and have VAT added. Depending on the vehicle type, some of/all of the VAT can be claimed back of your businesses VAT returns. The company who lease the vehicles to you retain ownership of the vehicles and in doing so take on the risk and responsibility of depreciation.
Generally speaking, contract hire agreements will include a full maintenance package and road license fund that will ensure that your car or van is kept on the road. Contract hire is a good way to have use of a new vehicle of couple of years in a tax efficient way that is both reliable and ready to drive.
Finance lease - A Finance Lease is a contract based upon a pre-agreed period and finances the acquisition of a vehicle and is usually accessed by VAT registered businesses and companies. The monthly rental is determined by the initial cost of the vehicle, the term of the agreement and the future value of the vehicle at the end of the contract - often referred to as the residual value.
At the end of the contract the vehicle is sold to a third party and a payment equivalent to the residual value must be made to the leasing company. Generally the lessee is entitled to a proportion of the sale proceeds.
You will never take ownership of the vehicle and the depreciation risk is taken by you rather than the leasing company as it is with a contract hire agreement.
Sale and Leaseback - If your business is already in ownership of a fleet of vehicles, then Sale and Leaseback could give your company an instant cash injection. You can release the capital tied up in your fleet and redirect it in to your core business.
The process is fairly simple. The leasing company will calculate the value of each vehicle in your fleet and buys them from your at market value. They then lease the vehicles back to you on Contract Hire or even replace them with new vehicles on Contract Hire. Further depreciation of your fleet is no longer a concern.
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