Vehicle funding options
The type of funding you choose can make a significant difference to your overall costs, your risk and flexibility. Therefore it is crucial to understand everything properly, before making your decision.
Factors to consider:
- Availability of finance
- Tax implications
- Balance sheet implications
When deciding how to fund and manage their fleet, more and more smaller businesses are turning to leasing rather than purchasing the vehicles themselves, for reasons include:
- Vehicle leasing can be a cheaper and easier alternative that doesn't burden your business with rapidly depreciating assets.
- It releases capital, improves cashflow and provides you with more confidence when forecasting vehicle expenditure.
- With the optional maintenance package It releases you from the time-consuming burden of maintenance, repairs, tyres, accident management and vehicle disposal, allowing you to concentrate on your core business.
Types of funding
Contract Hire is our most popular funding product, an operating lease providing a simple, cost effective and reliable option for businesses. However, we appreciate that companies have varying requirements and so we offer a range of funding options to suit your business needs.