Van Contract Hire and Leasing In Wigan
Van Leasing and Contract Hire in Wigan is a speciality at Westwood Motor Group (Westwood Vans) Here at our van dealership in Wigan, you can choose from over 100 new and used vans from stock, including our great new and used van range which includes Vivaro Vans, Transit Vans, Sprinter Vans, Caddy Vans and Renault Master and Trafic vans. We have a range of contract hire deals available and lease purchase deals for you to take advantage of.
Quick Overview of Business Finance with Westwood Wigan
Finance lease allows a business to obtain a vehicle and use it for the length of the lease and beyond with sub-sequential secondary or peppercorn rentals. Payments attract VAT and also rentals can be offset against corporation tax. Unlike contract hire disposal must be undertaken by the lessee of which normally 99% of the disposal amount can be retained.
Finance Lease provides you with the benefit of owning your van whilst building up equity over a period of 2-5 years.
- 100% tax deductible monthly payments
- Reclaim up to 100% of the VAT if you’re VAT registered
- Low deposit and low monthly payments
- Optional final payment
- Equity at the end of the agreement
Unlike Contract Hire, no strict mileage or damage penalties
Contract Hire (Hire Agreement)
Contract Hire is simply a method of hiring motor vehicles for use over an agreed time and mileage without ownership, the monthly rental is fixed (often referred to as an Operating Lease). This can include a range of additional services such as servicing, maintenance, tyres and road fund licence. This method of funding is a popular choice for VAT Registered companies. The term of the contract can range from 24 to 60 months and usually up to 120,000 miles.
Contract Hire is definitely worthy of consideration if the use of a van for a fixed period of time is more important to you than ownership.
- Low deposit typically equivalent to three monthly payments
- Choice of contract period from 24 to 60 months
- Option to include a full maintenance package
- Tax efficient as monthly repayments can be offset against taxable profits
- No worries about depreciation
If you’re VAT registered, claim back all of the VAT on your monthly payments
Business Contract Purchase (Purchase agreement)
This funding method combines the fixed prices and operational benefits of contract hire, however it allows you to own the vehicle at the end of the term at a pre-determined payment (balloon payment). The balloon payment is set to represent the residual value of the vehicle based on the mileage and term length stated. If you do not want to purchase the vehicle at the end of most contracts you can hand it back to finance company and have no further cost as long as it is within the mileage and condition terms
If ownership is a priority then this is a cost-effective route to purchasing your vehicle over a pre-agreed term of between 2-5 years.
- Ownership of the van at the end of the agreement
- Final payment thereby reducing your monthly payments
- Payments are not subject to VAT
- Capital cost of the van can be written-down utilising the standard writing-down allowances, unless using the Annual Investment Allowance (AIA)
- Low initial deposit with fixed monthly payments
- Interest reclaimable against tax
No Pressure Approach To Contract Hire and Leasing In Wigan
When you choose Westwood Motor Group for van leasing in Wigan, you can be sure to receive a no pressure approach whereby we can provide you with as much information as you need, help and advice as you need with no pressure ever applied in order to force you into buying.
Contact Westwood Motor Group, experts in van leasing, contract hire and van sales in Wigan, now to arrange a test drive or for more information.