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Which finance product is best for us?

If you’re considering a new car for your business there are a host of finance options available.

Our finance products include:

Traditional Finance

  • Hire Purchase - ranging from 2 – 5 year agreements

  • Lease Purchase – similar to Hire Purchase only with a lump sum to pay at end of contract (ultimately reducing monthly payments)

Finance Lease

Unlike Hire Purchase you never own the asset you are financing, however a finance lease offers you flexibility within the term of your contract. It allows you to put down an initial rental and pay VAT on your monthly rental, therefore, keeping initial rentals to a manageable amount.

Business Contract Hire

Popular with all businesses ranging from sole traders through to large corporates, Business Contract Hire can be tailored to suit an individual company’s needs, ie, up-front payments, length of contract, maintenance, etc.  A low initial up-front payment and the added benefit that an organisation can also claim up to 50% of VAT on the finance element makes BCH an attractive deal.

Business Contract Purchase

Structurally similar to Business Contract Hire, Contract Purchase enables an organisation to make fixed monthly payments. A guaranteed residual value, means lower monthly payments, which will be set at the beginning of the agreement. However, unlike Contract Hire, you have the option of keeping the vehicle at the end of the contract.

Asset Finance

For some businesses finance is more difficult to attract, either because they are a new business or have had issues previously with getting credit. If your organisation falls into this category, it’s still worth talking to our team as we can still negotiate specific terms for businesses who fall outside the usual criteria while still remaining affordable.

What will we need to apply for finance?

Most finance companies will ask for a simple application form to be completed which we can help you with. Typically you will be asked to produce at least one or all of the following:

  • Last 3 months Bank Statements
  • Latest Audited Accounts
  • Latest Management Accounts

Our Consultants, though, will be happy to help you and will walk you through the whole applications process.