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:
Business Contract Hire
Personal Contract Hire
Finance Lease
Hire Purchase
Compare Ways to Pay
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.