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Example Monthly rentals over 3 years on Ford Contract Hire with Ford Lease. Initial rental based on 6 monthly rentals, 10,000 miles per annum.
For the uninitiated, vehicle finance can be a complicated subject. There are a number of leasing and purchase agreements available to the business user. Glenford’s sales team are happy to discuss the various options available and will help identify the best solution for you.
The information below offers a brief explanation of the main options, characteristics and benefits according to the user type and your business needs.
Contract Hire is simple, comprehensive and cost effective. It is now the most popular method of funding vehicles for businesses of all sizes. Low deposits with fixed monthly payments cover the cost of the vehicle and the annual road fund licence throughout the length of the agreement. Maintenance can also be included in the contract, and these can cover the cost of all servicing, tyres and breakdowns too. This ensures that businesses can accurately budget the full cost of their company vehicles, with the added benefit of a comprehensive package which will keep their fleet mobile at all times. Contracts can be tailor made for your business, from short term deals to more typical 36 or 48 month agreements, with any anticipated mileage taken into consideration.
Contract Hire rentals (payments) are calculated on the ex VAT supply price of the vehicle and are treated as an operating expense that can be charged against taxable profits. VAT is reclaimed on the finance and maintenance elements. The monthly rentals are based on the vehicle price; mileage and length of contract required.
Glenford’s contract hire terms are amongst the most competitive available and we supply vehicles to businesses of all sizes. Call us now on 01307 462347 to discuss your options.
Why Contract Hire?
- Fixed Monthly Costs
- Accurate Budget Forecasting
- Eliminates the risk on residual values
- Off balance sheet funding
- Reduces administration
- VAT efficient
A Finance Lease will give you all the benefits of VAT recovery associated with contract hire but the flexibility and balance sheet presence of a simple Hire Purchase arrangement. In a nutshell if you are considering buying a car using Hire Purchase and you are a VAT registered business then by simply changing funding option you can save money!
There are no mileage restrictions as you have the option to have a Full Payout Lease, where the entire cost of the car is covered by the payments or the Residual Value Lease where the final value of the car is taken into account and stripped out of the monthly payments. This type of deal allows fixed monthly payments which allow a business to accurately budget the full cost of their company vehicles. Tailor made packages can be based on your individual business needs across a huge range of cars.
Glenford’s Lease terms are amongst the most competitive available and we supply vehicles to businesses of all sizes. Call us now on 01307 462347 to discuss your options.
- Flexible Monthly Payments
- Variable Deposits
- Full Payout Lease / Residual Value Lease
- Off balance sheet funding
- No mileage limitation
Contract Purchase is more commonly known as Hire Purchase and these agreements allow the customer to acquire the vehicle by paying fixed monthly instalments with the asset being shown on the company balance sheet whilst retaining ownership at the end of the agreement.
Lease Purchase gives you the option of a smaller deposit and to have a residual value payment (sometimes known as a balloon payment) offset until the end of the agreement allowing you to have reduced monthly payments, without mileage restrictions.
Contract Purchase allows you to vary the level of deposit. The value of the vehicle, the yearly mileage and the length of time you wish to run the contract for then determine the monthly payment. You can also include service, maintenance and breakdown cover. Contract Purchase is best suited to companies with high value cars who enjoy the option to purchase the vehicles, but do not want any of the depreciation risks that are associated with an outright purchase.
Glenford’s Contract Purchase terms are amongst the most competitive available and we supply vehicles to businesses of all sizes. Call us now on 01307 462347 to discuss your options.
Why Contract Purchase?
- Good for companies that are VAT exempt
- Deposit payment flexibility
- Vehicle qualifies for Writing Down Allowance
Business Users only.
Finance subject to status. Guarantees/Indemnities may be required. You will not own the vehicle at the end of the agreement.
Examples exclude VAT and are based on non-maintained agreements with a mileage of 10,000 miles per annum. Vehicles must be returned in good condition and within agreed mileage, otherwise further charges will be incurred.
All vehicles subject to availability at a Ford UK Authorised Dealer for all vehicles contracted between 1 January and 31 March 2023, and registered by 30 September 2023. Not available with any other promotion. Ford Lease is provided by ALD Automotive Ltd, trading as Ford Lease, BS16 7LB.
Ford Important Information on Non Commercial Vehicles: Retail†