The following finance options are offered by Hendy Peugeot when purchasing vehicles for a business.
Contract Hire is designed for businesses requiring fixed monthly rentals with no risk of depreciation or disposal worries. You can include a wide range of additional options, leaving you free to concentrate on running your business. We recover VAT on the vehicle, resulting in lower rentals for Hendy Business customers.
Many businesses find that regular fixed monthly rentals help with budgeting, cash flow and forecasting, leaving your capital free for other purposes. Fleet management services can be offered, which can reduce your administration time and costs.
Fixed rentals for the full contract period based on a set annual mileage that you determine
Repayment periods can be monthly, quarterly, half-yearly or annually
Vehicle Excise Duty and Assistance included for the duration of the contract
Can include optional maintenance package
Rentals can be offset against taxable profits for maximum tax efficiency
All of the VAT paid on rentals is recoverable for commercial vehicles
50% of the VAT paid on rentals is recoverable for cars where there is any private use of the vehicle
At the end of the contract, provided the terms of the agreement are fulfilled, simply return the vehicle to us.
Personal Contract Hire is a long-term rental agreement for private and business customers. In this instance, you pay regular monthly payments for the duration of the agreement and hand the car back at the end without having to worry about the associated expenses of owning a car, its future value or the hassle of eventually selling it when you're ready for a newer model. The duration of the agreement and the mileage can be flexible, so do ask for more details.
At Hendy Peugeot, many of our customers find that regular fixed monthly rentals help with personal budgeting.
Finance Lease is an excellent option if you want fixed monthly rentals, and you do not need to own the vehicle.
With a Finance Lease, you pay fixed monthly rentals. At the end of the lease, the sales proceeds are repaid to you as a rebate of rentals. We can help you to reduce your monthly rentals by agreeing an anticipated future value on the vehicle (known as balloon rental).
Initial outlay is 3 or 6 months' rental in advance
Repayment periods can be monthly, quarterly, half-yearly or annually
The contract length is decided by you at a maximum of 60 months
You have the ability to tailor the final rental to suit your budget
Rentals are allowable against profits, reducing your tax liability
All of the VAT paid on rentals is recoverable for commercial vehicles
50% of the VAT paid on rentals is recoverable for cars where there is any private use of the vehicle
Monthly costs are fixed
Normal depreciation risk.
This is a popular method of funding for many of our customers. It is designed to provide fixed-term funding and you own the vehicle at the end.
You decide the initial lump sum deposit and the repayment period. You then pay monthly payments for the life of the agreement.
Assuming all outstanding payments have been made, you own the vehicle at the end of the agreement.
No VAT on payments
Vehicles are treated as an asset and appear on your balance sheet - writing down allowances can be offset against taxable profits along with interest charges
The initial outlay is usually 10% of the vehicle price
The contract length is decided by you
Monthly costs are fixed
There's no final lump sum payment
Normal depreciation risk
You're able to take profit on sale
You take ownership at the end of the agreement
If you purchase a vehicle outright, this means you're doing so without a leasing agreement and with one payment - and this is the simplest way to purchase a vehicle or fleet of vehicles. The cash price of the vehicle(s) is paid in full at the point of purchase, which saves you money on paying interest on monthly payments, as there are none!
Hendy Group are a credit broker not a lender. We can introduce you to lenders and their products which may have different interest rates and charges. We are not an independent financial advisor and you are not obliged to take our advice. We do not charge you a fee for our services. We typically receive commission from the lender (either a fixed fee or a percentage of the amount you borrow) but this does not affect the amount you pay. Authorised and regulated by the Financial Conduct Authority. Reference Number 311625.
