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Finance Options

Funding Options

There are several ways of financing business assets and Greenfleets can help you to decide which is the most appropriate for your needs.

Here is a summary of the most common funding methods available:

Contract Hire

This is the solution for companies who want to concentrate on their core business activities, while avoiding the financial risk and administrative burden of owning their vehicle fleet.

Key features and benefits include:

  • Fixed rentals for the whole package, making budget planning easier
  • Flexible terms to meet your requirements with variable duration and mileage terms
  • Maintenance of vehicles can be included in monthly rentals, and so spread the cost
  • Contract hire removes depreciating assets from the balance sheet and the associated risks of owning vehicles
  • Flexible invoice arrangements help to considerably reduce administration

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Personal Contract Hire

This is the solution for private individuals and is becoming more popular amongst car users.

Key features and benefits include:

  • Fixed rentals for the whole package, making budget planning easier
  • Flexible terms to meet your requirements with variable duration and mileage terms
  • Maintenance of vehicles can be included in monthly rentals, and so spread the cost

Note: Personal Contract Hire is not available via Lex Autolease.

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Contract Purchase

Companies who want to own their vehicles, but want to avoid the risk of depreciating assets, prefer this option.

Key features and benefits include:

  • Similar benefits to contract hire regarding fixed payments and flexible terms
  • Maintenance and added value services can be included
  • The finance company guarantees the resale value of the vehicle at the end of the contract purchase agreement for a known, fixed amount
  • Ownership passes to the customer at the end of the agreement when all payments have been made

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Personal Contract Purchase

This is a conditional sale agreement which allows you the option to purchase the vehicle, or to simply hand it back at the end of the contract period.

You can elect to include the same comprehensive service, maintenance and repair options as are available through Contract Purchase.

Finance payments are not subject to VAT. If the optional service package is taken, VAT is payable on the service costs.

Note: Personal Contract Purchase is not available via Lex Autolease.

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Finance Lease

Finance Lease is a tax efficient option where you choose to pay either the entire cost of the vehicle, including interest charges, over an agreed lease period or opt to pay lower monthly rentals with a final payment based on the anticipated resale value of the vehicle.

At the commencement of the contract, usage parameters for the vehicle are agreed, and assuming this does not vary, monthly payments and interest rates are fixed for the duration of the contract. Therefore you benefit though fixed costs but do take on the administration and operating risks. At the conclusion of the contract you can continue to operate the vehicle under a "peppercorn agreement" although you will at no time take ownership of the asset.

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Lease Purchase

Lease Purchase is an agreement designed to offer dedicated vehicle funding where the customer wishes to purchase the vehicle. It is purely a finance package, and does not include maintenance or other added-value services (such as are available through Contract Purchase).

The customer is liable for the full value of the vehicle and has no option to return it at the end of the agreement. Monthly payments are not subject to VAT.

The vehicle is registered in the name of the customer, and where this is a company, the vehicle will appear on the balance sheet, and Writing Down allowance will be available.

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Sale and Lease Back

Greenfleets can release the cash locked inside your company vehicles by paying you the value of your fleet and leasing them back to you.

All our vehicles are supplied through the relevant vehicle manufacturers UK dealer network.

  • If you own your company vehicles outright or even part-finance them how much money have you got tied up in your vehicles?
  • Just 3 cars can release 50,000. What would you do with a cheque today for that amount?
  • Would you re-invest that 50,000 back in a fleet of cars or back into your business?
  • Would you like to know every month exactly what your vehicles were costing you?

Many companies have asked themselves these questions and then have decided to sale and leaseback their vehicles to us usually under a contract hire arrangement. It really is that simple and we take the entire hassle out of the transaction.

All you do is cash the cheque!

To give you a quotation of how much money you can release and how much it will cost you we will, however, need you to compile the following information for us.

Information required for a sale and leaseback quotation...

  • Photocopy of the V5 registration documents.
  • Mileage reading on the vehicles and the dates they were taken.
  • Is there any other finance house involved and who is it?
  • How much do you want for the vehicles if they are owned outright?

If you would now like to find out how your business can enjoy a cash injection then please contact us now.

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