Car Leasing Options
There are two leasing options to select between, business or personal car leasing
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Car Leasing Options
We offer two leasing options; they are business and personal car leasing.
What is Personal Car Leasing?
Personal car leasing is a finance product that is available to private individuals. As it is a finance product customers require a good or very good credit rating to apply to mainstream lenders who offer the best rate. You simply choose the vehicle that you’d like to lease, select your initial payment, annual mileage, and length of contract. You drive the vehicle for the agreed length of contract and at the end of the contract, you hand the vehicle back. There’s no re-sale hassle, allowing you to go on and order your next lease. At the time the agreement is taken out, you will have agreed an annual mileage, should you exceed this then excess mileage charges will allow. It’s important to be aware that if you damage the vehicle, other than fair wear then you could be charged for this damage at the end of the contract. The funders understand that the vehicle is a used vehicle so do allow small scratches and scuffs in accordance with the BVRLA fair wear and tear guide. By choosing to lease your vehicle, you can drive around a brand-new car a lot less than if you bought the car using any other finance product.
What is a Business Car Lease?
Leasing a car through a business has similar benefits to private leasing, however they can also reclaim elements of the VAT, if they are VAT registered. 50% of the VAT on the hire element and 100% of the maintenance element can be reclaimed. You can apply for a business lease as a sole trader, partnership, limited company, Charity or LLP. Different funders have differing criteria so it’s important that you discuss how your business trades with us and how long it’s been trading before we can provide a quotation.