Business Car Leasing
Here are just some of the benefits of leasing with The Vehicle Network” when you choose to lease with us
- The ability to lease any car or van currently produced for the UK market.
- Clear contracts, with fixed monthly rentals.
- Road tax, breakdown cover, delivery and collection included.
- VAT can be claimed back on business leasing.
- You can reclaim up to 50% of the rental for cars, and up to 100% on commercial vehicles against tax, we always recommend speaking with an accountant about your own business circumstances.
Business Contract Hire (BCH)
If you are looking to apply for finance on a vehicle that would be involved in business use, or if you are applying for finance as a VAT registered, limited company, partnership, sole trader or LLP, then Business Contract Hire might be the best option for you.
Business Contract Hire (or Leasing as it is commonly known) is rapidly growing in popularity, as it enables you to drive a brand new car which you can then update at regular intervals. We specialise in these agreements here at The Vehicle Network.
Contract Hire is simply a long-term rental agreement where you pay a monthly fee to use a brand new car for an agreed time and number of miles. You can commonly choose between 2, 3 or 4 year agreements, with annual mileage between 5,000 and 40,000 miles.
Leasing is a great option if you want to run a new car every few years, and usually a better vehicle than you would normally be able to afford with other forms of finance, but do not want the commitment of having to buy it at the end of the arrangement. Leasing agreements usually require a smaller deposit than other finance arrangements and, because monthly payments are fixed, you know exactly how much you will spend from the outset.
We have nothing to hide, there are no catches – but here are some things to be aware of when looking at personal lease.
Important Factors To Consider
We want you to have all the facts, so there are a few things to consider before deciding to lease a vehicle:
- Be aware that if you leave your lease agreement early you could incur some additional charges
- Any Additional mileage exceeding the agreed amount will be charged to the user at the end of the agreement, though often mileage can be adjusted mid-term if necessary.
- The car must be returned in good condition in line with a fair wear and tear policy. Road Tax is included within these agreements; but other packages such as maintenance and tyre cover are an additional cost, we will take you through these options, so you make an informed decision.
- Road Tax is included within these agreements; but other packages such as maintenance and tyre cover are an additional cost, we can take you through these options, so you make an informed decision.
If you have questions, are unsure as to which vehicle or contract would be best for you, we are more than happy to answer your questions. Just contact us!
Business leasing or business contract hire as it’ also known, is a vehicle contract for limited (ltd) companies, sole traders LLP’s and partnerships.
Leasing a vehicle through a business can be a cost effective and hassle-free way to run a new vehicle. Payments are chargeable against Corporation Tax. VAT is also reclaimable depending on the business type. Repairs and maintenance can also be claimed.
Payments are chargeable against Corporation Tax. VAT is also reclaimable depending on the business type. Repairs and maintenance can also be claimed. So There are benefits to a business leasing a vehicle. You can claim 50-100% of the VAT cost, and include maintenance packages wrapping up servicing and tyre costs into one monthly payment.
Potentially, yes. Payments are chargeable against Corporation Tax. VAT is also reclaimable depending on the business type. Repairs and maintenance can also be claimed.
A company car lease scheme is a way for a business to supply employees a new vehicle, meaning that the employee doesn’t have to buy or finance a vehicle themselves.
The Electric Vehicle salary sacrifice scheme means employees can pay for an electric car each month from their salary before tax and other contributions are deducted.
Getting an electric car through a salary sacrifice scheme is the best way to take advantage of driving an electric car in one of the most cost-effective ways available.
You can lease a car from us usually for as little as £199 per month
Think of leasing as a long term rental. Whilst it’s cost effective and convenient, you don’t own the car, the are charges to pay if you exceed your contract mileage, and a credit check is required on application.
Think of leasing as a long term rental. You make an upfront payment, plus monthly payments, and take a new vehicle on contract for 2, 3 or 4years. At the end of the lease, you’ll return the vehicle and start a new lease.
The monthly payments on a lease (contract hire) are usually less than monthly finance payments from a dealership.
You will need a full UK driving licence. Proof of address (utility bill or bank statement). Bank details to set up the direct debit. Employment details for the previous three years, often along with proof of monthly income. Bank details to set up the direct debit.
A lender will carry out a credit search on you using credit references agencies such as: Experian, Equifax and TransUnion
Yes you can early terminate a contract hire agreements, but not without charge.
All lease / contract hire vehicles must be fully insured by yourself.
The most common terms, are 2, 3 and 4 years. But shorter and longer agreements are sometimes available.
You can contact your lease provider with the items you wish to dispute and why.