VansRus UK

Hire Purchase 

If ownership is a priority then this is the most cost-effective route to purchasing your vehicle.      

• Low deposit – flexible depending on status 

• Flexible repayment period – up to 36 months in most instances.

• You can choose to settle off loan at any time.

• No mileage restrictions.

• Fixed monthly repayment aids budgetary control and cash flo 

• Ownership of vehicle will pass when the agreement is completed.

• 50% of interest charges can be offset against taxable profits.

• Vehicle is not shown as an asset on your balance sheet.

• Writing down allowances are claimable; Year 1 – 25%  Year 2 – 15%  Year 3 – 7.5%  etc…  etc…

• If VAT is put down as deposit it is reclaimable (VAT registered customers).

• Leaves you with additional lines of credit. 

• Our Hire Purchase Package Is Unique.

  .Mostly the finance companies require the VAT as a deposit on commercial vehicles, but we can once the finance is agreed try to negotiate a lowwer amount. We can also offer nil deposits on finance for cars. (Subject To Status).

  .95% of our customers take out Hire Purchase agreements secured against their vehicles. The advantages of doing this as opposed to taking out a personal loan include;

  • If you are unable to make the repayments the finance company will take your vehicle back to recover your debt, not your house.

  • If you want to pay off your loan early you will not be charged all of the interest.

  • There is a clause on your credit agreement that allows you to hand your vehicle back to the finance company and wipe off your debt providing you have paid a certain percentage of the loan off already.

  • You leave your personal credit line clear for further borrowing.

  • Finance Lease

  This facility provides some of the benefits of ownership with the flexibility of rental.

  • Deposits are usually the equivalent of three rentals, but can be any amount.

  • Repayment period of up to 60 months.

  • Monthly rental payments are subject to VAT – VAT is reclaimable quarterly (VAT registered customers).

  • Rentals are 100% allowable against taxable profits.

  • On balance sheet.

  • At the end of the agreement the vehicle must be sold to an independent third party, the third party is then invoiced on your instruction and you will receive 95% of sales proceeds (ex. VAT).

  • Alternatively you may be able to return the vehicle to the finance company who will then sell it and return 95% of the net sale proceeds to you (ex. VAT), after collection of fees and deductions.

  • Fixed monthly rentals aid cash flow and budgetary control.

  Contract Hire

  Comprehensive fixed cost solution without the responsibilities of ownership. Can include full

  maintenance package at additional cost. Mileage sensitive – be careful!

  • Deposits are anything from 3 rentals upwards.

  • Monthly rental payments are subject to VAT – VAT is reclaimable quarterly (VAT registered customers).

  • You agree the mileage you wish to cover over the period of the agreement – usually 24-36 months.

  • Total budgetary control with fixed costs – as long as you stay within mileage limit!

  • You have the use of the vehicle without a large capital outlay.

  • Off balance sheet.

  • Just hand back the vehicle at end of contract and pay any excess mileage or damage charges, if applicable.

  • Rentals are 100% allowable against taxable profits.

  COMPETITIVE QUOTES AVAILABLE ON ANY VEHICLE BY REQUEST

  As the finance houses we have agreements with operate a “price to risk” policy it ensures that our business is written at highly competitive rates for those customers with a strong credit profile. It also enables customers with adverse credit information registered against them to obtain finance as long as they display a willingness to pay.

  Call freephone 0800 612 9127 for any other finance advice.