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Finance Options

  • A popular choice for VAT registered companies who want minimum outlay and maximum control of costs, especially when the maintenance and relief vehicle options are included.

    With this VAT beneficial package, one regular rental payment covers all risks including costs of depreciation and disposal for an agreed period of time and mileage.

    Road fund licence is included, but roadside rescue, maintenance and relief vehicle provision are options that can be added and charged to the rental payments.

  • Ideal for VAT registered companies who want to handle the administration of their vehicles, and have the asset show on their balance sheet.

    A VAT beneficial finiance option where the hirer can choose to pay the entire cost over the agreed lease period, plus an interest charge, or pay lower monthly rentals during the lease period with a final payment based on the anticipated resale value of the vehicle.

  • For companies with high value cars who would like the option of purchasing their vehicles, but don’t want any depreciation risks.

    The customer acquires the vehicle by paying fixed monthly instalment with the asset being shown on the company balance sheet, and can either retain ownerships at the end of the contract or hand the vehicle back.

    Contract Purchase comes with road fund licence.

    Full breakdown cover, relief vehicle and maintenance are available as optional extras.

  • For non-VAT registered companies that want eventual ownership of the vehicle.

    A funding agreement where the company acquires ownership when all the payments, including the option to purchase, have been made.

    Part of the capital cost of the vehicle payment may be deferred into a “balloon” payment at the end of the agreement, which equates to the anticipated value of the vehicle at the end of the leasing period.

  • For private individuals who want a hassle-free and cost-effective way to finance and maintain a vehicle.

    Consultation and assessment of your requirements may reveal that Drivewise – Network’s personal leasing product – is the ideal vehicle finance solution for your business and personal needs.

    Drivewise allows youto enjoy significant tax advantages, a choice of new or used vehicles every two or three years for a fixed monthly charge that’s easy to budget for, as well as an all-inclusive maintenance and breakdown package.

Choosing Your Funding Method

Finance / Taxation Issues
Meeting Your Requirements Contract
Hire
Finance
Lease
Contract
Purchase
Lease
Purchase
Personal
Leasing
Outright
Purchase
Acquiring monthly budgeting Yes Yes Yes Yes Yes  
Improved cash flow Yes Yes Yes Yes Yes  
Minimum capital expenditure Yes Yes Yes Yes Yes  
Fixed interest rate Yes Yes Yes Yes Yes N/A
Capital allowances available     Yes Yes N/A Yes
Rental allowances against taxable income Yes Yes     N/A  
Ownership of vehicle †     Yes Yes Yes Yes
VAT chargeable on rentals Yes Yes   Yes    
VAT recoverable on rentals Yes Yes        
VAT recovered on purchase cost by Network and passed on to customer in lower rental Yes Yes        
No depreciation risks Yes   Yes   Yes  
Vehicle Running Requirement
Meeting Your Requirements Contract
Hire
Finance
Lease
Contract
Purchase
Lease
Purchase
Personal
Leasing
Outright
Purchase
No vehicle disposal problems Yes   Yes   Yes  
Reduced administration Yes Yes Yes Yes Yes  
On-going advice / support Yes Yes Yes Yes Yes  
Road fund license providing Yes   Yes   Yes**  
Breakdown rescue cover Yes   Yes   Yes  
Replacement vehicle in case of breakdown Yes   Yes      
Fixed charge maintenance ‡ Yes   Yes   Yes  
VAT chargeable on services Yes   Yes   Yes Yes
VAT recoverable on services Yes   Yes   N/A Yes
At the end of contract with financing products
Optional
* Only 50% of the VAT relating to the finance element is recoverable if private use. 100% if only business use. 100% of the service element VAT is recoverable if business use.
** Road fund licence is provided for the first year only.