By effortlessly switching to contract hire, you can gain from a number of financial and operational benefits including improved cash flow, fixed funding rates and no risks on vehicle depreciation.
A fast and effective way to release capital for reinvestment
Improved cash flow
Fixed monthly payments to assist with budgeting
Removal of risk on residual values and servicing, maintenance and repair costs
Another credit line
Improved cost efficiencies due to our economies of scale
Off-balance sheet funding – until 1st Jan 2019
If you currently own your vehicles outright but are looking to switch over to contact hire to gain from its wide range of benefits, sale and leaseback offers a quick and easy mechanism to do this.
You sell your vehicles to us for an agreed value then lease them back over an agreed period of time. In return, we take on the vehicles’ ownership as well as the risk surrounding their disposal.
At the end of the contract, we collect the vehicles from you. All you need to do is ensure that vehicles are returned in line with the agreed age and mileage and in an appropriate condition. We bear the risk for the vehicles’ resale values.
This protects you from any fluctuations in used car values while fixed monthly repayments also shield you against future interest rate rises.
In addition, a full maintenance package can be added on to cover servicing, maintenance and repairs under fixed monthly payments that protect you from any further nasty surprises.
Other cost benefits include VAT reclaim and the ability to deduct rentals against corporation tax. And of course your business will benefit from an immediate cash injection to your business that can be used for core business activities.