How Finance Lease Works Video

A Step-By-Step video showing how a Finance Lease works

Description

The company pays a fixed monthly payment. At the end of the agreement, which can be between 1 and 4 years for a car and 5 years for a van, the vehicle is either sold to clear the final payment or you opt to extend the contract for a further year at a nominal charge, typically just 1 monthly payment.

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About

  • Perfect for vehicles which are unlikely to be kept in great condition
  • Great for high mileage customers
  • Can offset the finance interest against corporation tax, reducing the true costs
  • A percentage of the VAT of the rentals can be offset
  • Can either keep using the vehicle after the contract ends on a year on year basis or sell to a 3rd party
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