An alternative business vehicle finance option to contract hire, the finance lease offers a little more flexibility. You lease the vehicle from the finance company but the vehicle is your company asset. A finance lease is available to partnerships, sole traders and VAT registered businesses. Many businesses prefer the finance lease option since they can benefit from deferred payments that enable lower monthly fees, with a balloon payment at the end of the contract.
What are the benefits of a finance lease for your company car fleet?
Ownership of the vehicle is with the finance company throughout the entire finance lease term. They will be responsible for administration of the vehicle so expect to pay various administration and documentation fees.
To further discuss this finance option, please call the franchise branch you require and ask to speak to sales or, for business fleets, please call us on 01233 220277.