Need-to-know guide to car finance
With so many options available, sometimes it's hard to know how to finance your new car. With First Vehicle Leasing it's simple, we only offer Contract Hire, also known as Leasing. This is essentially a long term hire of a vehicle through a contract. Read on for more information.
BUSINESS Contract Hire
Contract Hire is a great option for companies who emphasise cost control. One regular and VAT efficient payment will cover most motoring costs and risks, including the Road Fund Licence, depreciation and the eventual disposal of the vehicle. Many clients also choose to include a maintenance package that's designed to suit them. The only other costs remaining with the customer are fully comprehensive insurance & fuel.
Some benefits of contract hire include:
- Fixed cost, inflation free motoring
- No residual value risk
- Low initial upfront costs
- Cash flow benefits for business users
- Ability to renew cars for minimal outlay
- Keep your fleet up to date
- Gain an additional credit line
- Reclaim VAT on 50% of payments and on 100% of maintenance package costs
- Claim hire rental tax allowances
PERSONAL CONTRACT HIRE
Personal Contract Hire, as its name suggests, is essentially the same, and offers the same benefits as Business Contract Hire, but for private individuals. If you want fixed cost motoring on a brand new car, or have opted out of a company car scheme then Personal Contract Hire could provide you with hassle free motoring without the residual value risks associated with traditional ownership.
VAT is built into the monthly payments, but is not reclaimable by private individuals. Maintenance packages are usually available so that you don't get any nasty surprises.
Some benefits of personal contract hire include:
- Hire brand new or nearly new vehicles
- Road tax included for full term
- Great for budgeting, fixed costs for the term
- No residual loss worry
- Get yourself into a brand new car every few years
- Worry free motoring when including maintenance
- Initial rentals can be tailored to suit you
We Can Offer 1 Rental In Advance
We can often alter the initial rental to suit you. Use our drop down menus on the search page to get an idea of how this will affect your monthly rental. Your monthly rental will change accordingly.