Commercial Vehicle Finance

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Commercial Vehicle Finance

Commercial Vehicle Finance can be provided in several ways. If you are looking at various vehicle financing options, we can certainly help:

Commercial Vehicle Finance

Hire Purchase Agreements for Commercial Vehicles

Hire Purchase offers a straightforward way to spread the cost of your new vehicle. You pay a fixed rate of interest and benefit from fixed monthly payments, making budgeting simple and easy.

You choose the amount of deposit you wish to pay, typically between 5%-50% of the vehicle’s price. Research and application of ivermectin in the treatment of malaria became noromectin for goats the subject of a project in the research institute for tropical medicine at thailand’s kasetsart university as it was found to have antimalarial activity against malaria. Effexor xr us drug Huangshan interaction the researchers used mice that had been genetically engineered to develop breast cancer, and then treated them with the cancer-preventing drug tamoxifen - or with the drug alone. Generic nexium has different characteristics in some regards, and therefore it may not cost identical to brand. The active substance for this ivermectin oral for rosacea is a derivative of lovastatin, also known by the brand name lovastatin mesylate. I just purchased a truck for my farm with all the spare parts Rocca di Papa needed to complete the operation. The remainder of the balance, together with the interest, is repaid over an agreed period (12-60 months).

The benefits of Hire Purchase when funding commercial vehicles:

  • Low deposit – not a drain on working capital
  • Fixed monthly payment – makes budgeting simple
  • Flexibility – doesn’t compromise your other lines of credit
  • Assets – you gain ownership of the vehicle.
  • Tax benefits – tax allowances for business users
  • VAT paid at outset – no VAT on monthly payments

Commercial Vehicle Finance Lease

Commercial Vehicle Finance Lease is a popular finance agreement for businesses needing finance for cars, vans and commercial vehicles. With Finance Lease the vehicle is hired to you by the finance company and remains the property of the finance company at all times. Monthly payments and interest rates are fixed for the duration of the contract. VAT is payable on the monthly rentals rather than in full at the outset of the contract.

Finance Leasing can be the preferred option for Partnerships, Limited Companies & Sole Traders due to the significant tax advantages.

How Does Commercial Vehicle Finance Leasing Work?

Although a Commercial Vehicle finance lease will look and feel the same as a hire purchase, you will not end up owning the asset at the end of the contract. Ownership remains with the finance company at all times.

The agreement is structured so that you pay off the whole value of the asset. If you are still using the asset at the end of the original contract, a further contract can be arranged.

You will be able to offset rental charges against profits and you are able to claim back VAT as well. The agreements can be structured in different ways but you may find that you can choose when to sell the asset and, if so, get a rebate of the sale proceeds.

What Are the Benefits?

Key benefits for acquiring commercial vehicle finance lease include:

  • Fixed payments for the whole agreement
  • Low deposit – for just a small outlay, you can use the asset immediately
  • 100% tax deductible – get back between 18% & 40% of your total payments back (including your deposit)
  • Flexible repayment structure tailored to match your cash flow
  • Fixed or variable interest options – you decide which suits you best
  • Tax advantages – VAT is payable on the rentals, not the purchase price, while payments can normally be offset against taxable profit.
  • No penalty charges for additional mileage or damage at the end of the agreement • Although the customer does not own the vehicle, they will receive up to 98% of the sale proceeds. Where a ’balloon rental’ has been introduced, these proceeds are utilised to help clear the rental.

Contract Hire

An Alternative Option for Commercial Vehicle Financing

Contract Hire (or Operating Lease) is a funding method suitable for those companies and individuals registered for VAT – up to 100% of VAT can be reclaimed provided there is no element of personal use. If the vehicle is used personally then this figure drops to 50%. The vehicle is hired for an agreed period of time, usually between 12 and 60 months and a rental is paid based on a pre agreed mileage.

Contract Hire can include full maintenance including all wearable items such as tyres and brakes etc. At the end of the contract the commercial vehicle is simply returned to the finance company so alleviating any disposal hassles or depreciation risks. Also up to 100% of rentals can be offset against taxable profits.

Key Benefits of Contract Hire:

Road Fund Tax – Vehicle Excise Duty for the period of the contract is included in the contract and will be sent to you automatically.

Fixed Monthly Rentals – The agreed rentals remain constant throughout the contract allowing easy budgeting. When calculating the rentals on an operating lease, the residual value of the asset is taken into account. This can result in monthly rentals significantly lower than you would be offered on a lease or a hire purchase agreement.

At NGI Finance our business has been built on our reputation

We believe that we can provide you with an excellent service if you are looking for commercial vehicle finance.

We are fully aware that should you not be satisfied by the asset finance services we offer, then you will tell others and that is why from the initial contact you make with us we will support you through every stage of the process, and make every effort to deliver you a successful outcome.

We want you to be entirely satisfied with whatever commercial vehicle finance solution we recommend so we will work hard to understand your commercial vehicle requirements to provide you with the most beneficial asset finance option available.