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

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Personal Contract Hire

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Finance Lease

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Hire Purchase

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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.