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BASIC FACTS
If you are a higher rate tax payer (currently 40% for non limited
companies) you will in effect get 40% of your payment paid back
from the tax man.
e.g.
New Navara 2.5 Sport Double Cab
Deposit £2500 less 40% tax benefit =£1500
Weekly Payment £54.98 less 40% tax benefit = £32.98
or, as a 20% tax payer
Deposit £2500 less 20% tax benefit =£1925
Weekly Payment £54.98 less 20% tax benefit = £43.33 |
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THE BENEFITS |
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100% of payment allowable against taxable income
You choose your deposit (min £200)
VAT recoverable on monthly payments
Non-VAT registered customers welcome
Fixed monthly payments
Accurate monthly budgeting
Minimum capital expenditure
Fixed interest rate
On-going advice/support
No vehicle disposal problems
Option to keep the vehicle
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Finance
Lease and Contract Lease have been THE product for most of our customers
over the years and still is THE one for anyone who wants to have
all the benefits normally associated with owning a vehicle whilst
maximising tax efficiencies.
That’s what we mean by up to 40% less for the self
employed and businesses. This is because of the fact that for income
tax purposes, Finance Lease and Contract Lease is classed as a hire
agreement, which means that when you lease a van or a pick up from
us you get 100% tax relief on your payments to offset against your
taxable profits.
So How Does It Work?
You simply have to agree a monthly payment and contract period which
can include an acceptable final balloon payment which will have the
effect of keeping your payments to a minimum on Finance Lease or
with Contract Lease just simply hand the vehicle back. Global Commercials
will then supply the vehicle of your choice through one of our nominated
manufacturers dealerships dependent on where you are situated. Payments
are made monthly by Direct Debit throughout the contract term. Finance
Lease and Contract Lease is extremely flexible and you can terminate
the agreement at any time. (Early settlement charges can apply but
these are dictated by the government).
Finance Lease also gives you lots of options at the
end the of contract.
Option 1
The most common option chosen by our customers is to part exchange
the vehicle, and take delivery of a new one as you retain 98% of
the part exchange value. This allows you to use any surplus monies
as your deposit on the new vehicle.
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Option 2
You can sell the vehicle to a third party, and use the sale proceeds
as a deposit against your new vehicle or to make the final balloon
payment if appropriate, or simply just keep the sale proceeds.
Option 3
Alternatively you can keep the vehicle for as long as you want as long
as you pay an annual minimal sum called a peppercorn rental to the
leasing company. Even this payment is 100% allowable against taxable
profit.
Contract Lease
A popular choice for VAT-registered companies that want minimum outlay and maximum
control of costs, especially when the maintenance and relief vehicle options
are included. With this VAT-beneficial financing package, one regular rental
payment covers all risks, including costs of depreciation and disposal, for
an agreed period of time and mileage. Road Fund Licence is included, roadside
rescue, maintenance and relief vehicle provision are options that can be added
and charged to the rental payment.
Lease Purchase
This is for Business users only and is basically Hire Purchase with
an agreed balloon payment incorporated which has the effect of reducing
monthly payments.
SUMMARY
We has the ability to supply any make of van or pick up AND can accommodate
any form of funding including Contract Lease, Lease Purchase, HP, Contract
Purchase and of course cash purchase. |
