Finance Lease is a straightforward rental agreement that
offers significant tax advantages for your company, particularly
if your business is VAT registered.
Unlike Contract Hire, this form of car leasing can show
the vehicle funded on your Balance Sheet, hence your company
will claim a write down allowance each year against Corporation
Tax.
With a 'Balloon' style Finance Lease, you can reduce your
monthly rentals even further, as the car's estimated resale
value is taken into account when the rental payments are
calculated. The estimated value is then offset to the
end of the agreement, thus reducing your rental payments
on your company car. At the end of your lease agreement,
you must sell the car to an unconnected third party.
With a Finance Lease your sales proceeds will first need
to cover your outstanding 'balloon' payment and any balance
will then be refunded to you with a minimal percentage
of any profits payable to the finance company. Any shortfall
remaining from the 'balloon', however, will be your responsibility
to settle.
VAT is reclaimable in exactly the same manner as Contract
Hire agreements.
All our car leasing plans are available on all makes and
models, from the more prestigious Audi, BMW, Mercedes
and Jaguar, to reliable favourites such as Ford, Vauxhall,
Peugeot and Renault.
The
Right Choice
Our Finance Lease plans include:
- Low initial deposit and fixed monthly
payments.
- Free delivery and collection anywhere
in the UK.
- The contract length and mileage
tailored to exact requirements.
- VAT reclaimable on monthly payments.
- Personal support and advice throughout
your contract from Countrywide Vehicle Contracts.
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