We also provide a Sale and Leaseback programme where we will buy your vehicles from you, giving you a cash lump sum to put back into your business and then we will lease the same vehicles back to you. This offers you minimal disruption and allows you to inject the cash you have released from the vehicles back into your core business activities or to expand your business.
Currently operating leases are reported off-balance sheet. This means future lease payment obligations are disclosed in the notes to the financial statements but do not appear on the face of the balance sheet. By contrast, assets which are outright purchased, or funded via hire purchase, contract purchase or finance lease are treated as fixed assets and recorded on your organisation’s balance sheet. There is also a corresponding debt liability which matches the value of the asset on acquisition and is reduced by the amount of monthly finance payments made to the funder.
All leases, including contract hire, are eligible for VAT relief on both cars and commercial vehicles, provided your organisation is VAT registered and able to recover VAT. Whereas for commercial vehicles, all forms of funding are eligible for VAT relief (up to a maximum of 100% of input VAT), for company cars with private use, both contract hire and finance lease enable a maximum of 50% input VAT recovery (new cars). For other forms of funding there is no VAT recovery unless the car has no private use.
With Contract Hire you are free to change the term and mileage of the contract up until the last 6 months of the contract. This enables you to examine those drivers that are running over or under mileage and then adjust the contracts accordingly to avoid any unexpected end of contract mileage costs. We can also organise a pooled mileage agreement for you in order to help offset under mileage vehicles against over mileage vehicles. With Contract Hire you are free to add or exclude maintenance as required.
Yes, we have our own preferred network in place. Where possible we will arrange for your vehicle to be serviced through your local dealer. Please call Vehicle Service Management to book a service online, by telephone, fax or email. We can take the administrative burden away from you so you can focus on other tasks. Contact us for more information.
If an employee leaves your organisation, their vehicle can be reallocated to another driver. If there is currently no driver to reallocate to we can temporarily store the vehicle on your behalf at our Cardiff storage facility, until such time that it can be reallocated (Please be aware that there is a cost to use this service). Alternatively, we can arrange early settlement of the contract. Please Contact us for further information.
As we have the largest fleet of company cars across the UK, we can secure unrivalled buying power and discounts to ensure you get the best rates possible. The economies in using our own extensive list of dealerships are as follows:
Yes you can. Part of the service we offer is to provide you with a facility to add vehicle branding/sign writing and remove this at the end of the contract. We have access to a wide network of reputable companies that can do this for you. All you need to do is Contact us and we can do the rest. Alternatively, we can work with you and your existing suppliers.