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Ways To Pay

The purchase of a vehicle for your business is a big decision and at Leasewell we believe we make the process as easy as possible with the choice of ways to Pay and knowledgeable staff to help you make the right decision.

Please click on a category below to find out more information on the different ways to finance your next vehicle:

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Business Contract Hire
Business Contract Hire

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Personal Contract Hire
Personal Contract Hire

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Finance Lease
Finance Lease

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Hire Purchase
Hire Purchase

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GAP Insurance
GAP Insurance

 

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Product Features Hire Purchase Contract Hire Finance Lease
Eventual vehicle ownership Yes No No
Vehicle age New & Used New & used vehicles
up to 12 months old
New & used vehicles
up to 12 months old
Finance Term 13 to 60 months 24 to 60 months 24 to 60 months
Cost of entry Zero deposit available (VAT normally paid up front) Minimum one month's rental
Typically 3 month's rental
Minimum one month's rental
Typically 3 month's rental
Fixed payments / rentals Yes Yes Yes
No responsibility for vehicle disposal No Yes Vehicle sold on lessors behalf. Upto 100% sales proceeds returned to lessee
Flexible end of contract options Renew/Retain Renew/Return/Extend Renew/Extend/Resale
Balloon option available Yes No Yes
Optional maintenance package Possibly Available at extra cost Possibly
Road Fund Licence Included for the first year Included for duration of agreement Included for the first year
VAT on monthly rentals No VAT on payments but VAT on vehicle may be fully recoverable VAT reg'd businesses may be able to reclaim VAT element of monthly rental VAT reg'd businesses may be able to reclaim VAT element of monthly rental
Off balance sheet funding No Yes No
Taxation (personal advice recommended) Writing down allowances may be available. Interest cost may also be offset. Tax allowable rentals Rentals allowable against taxable profit

NB You should always seek professional advice in relation to taxation and VAT issues.

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Leasewell (UK) Limited is an Appointed Representative of Automotive Compliance Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Leasewell (UK) Limited to act as an agent on behalf of the insurer for insurance mediation activities only. Leasewell (UK) Ltd can introduce you to a number of finance providers, we may receive a remuneration if you enter into an agreement with them. Leasewell (UK) Ltd is a credit broker and not a lender.
BVRLA Registration Number: 1958 | Financial Conduct Authority Licence Number: 680005
Company Registration Number: 8242380 | ICO Registration Number: Z3604028 | VAT Registration Number: 144510638
Registered Office: Unit 26 Brynmenyn Business Centre, St Theodores Way, Brynmenyn Industrial Estate, Bridgend, CF32 9TZ