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Buy On Finance


Buying On Finance with Westwood Explained

Hire Purchase

This traditional form of finance (HP) offers the hirer the opportunity to own the vehicle outright at the end of the hire purchase agreement.

Normally a deposit is required as an advance payment; however in the case of commercial vehicles the VAT due can be sufficient to cover this element.

Interest is payable on the outstanding balance and the period of the agreement.

In addition to these costs a document and option to purchase fee may also be required.

If you wish to reduce the monthly payments you could consider a balloon final payment. This is where a percentage of the cost is deferred until the end of the contract. However, the balloon is due to be paid on the last day of the agreement, (secondary finance may be possible on the balloon)


  • Low cost initial outlay
  • Fixed monthly payments
  • Payment not liable to VAT
  • Balloon deferred payment alternative
  • Eventual Outright ownership

Contract Hire

Contract hire is an ideal product for companies who don’t want the financial risk associated with running their own cars and vans and who are looking to reduce the administration burden of buying, servicing and disposing of their vehicles.

Your company simply hires the vehicles from Westwood Motor Group for a pre-determined period at a fixed monthly rate. The car hire company retains ownership of the vehicles – and the risk associated with them – and at the end of the contract they are returned to the hire company.

The key benefits of contract hire to the business user are:

Off Balance Sheet Funding

Under contract hire your vehicles do not appear on your company’s balance sheet as they are owned by the hire company. The removal of capital assets from your balance sheet can enhance a company’s gearing (borrowing) ratio.

Fixed Monthly Cost

A fixed monthly payment is charged over the life of the contract and the initial up front payment is normally just three months rental. Fixed monthly cost makes budgeting more accurate and improves your company’s cash flow.

VAT Benefits

Contract hire has many VAT benefits, you can claim back 100% on the service element and 50% of the financial element of the rental cost. For commercial vehicles you can reclaim 100% of all parts of the rental.

Reducing your financial risks

Managing the risks involved in running a vehicle fleet is all important and that’s exactly what you can do when opting for contract hire. The hire company takes all the risks involved in everything from residual values and maintenance to interest rates. That leaves you to simply pay the monthly contract hire cost, insure and fuel the vehicle.

Reducing Administrative Hassle.

As Westwood Motor Group are supplying the vehicle, servicing and disposing of your vehicles, administration for the fleet operator is kept to the bare minimum.


  • Off balance sheet funding
  • Maximum cash flow benefits
  • No depreciation risks
  • Low initial outlay
  • Fixed monthly cost
  • Service and maintenance plans can be included
  • Replacement vehicles at extra cost

Vehicle Leasing

Used Van leasing is a simple finance purchase package designed to be of benefit to the business user. In the eyes of the Revenue it is a hire agreement but these days the terms of the lease and the guarantee to return the customer either 100% or 95% of the vehicle’s value following its sale make it an ownership plan in all but name. Given that there are advantageous tax rules relating to leasing and that the customer has the control and benefits of the vehicle’s value at the end of the lease it is not surprising that commercial vehicle dealers find it the most popular form of business finance.

The key benefits to the business user are:

Cashflow and VAT benefits

 Firstly, for all customers, whether or not they are VAT registered, there is a substantial cash flow advantage straight away. When paying cash, or on Hire Purchase, the Vat on the vehicle is due immediately. Obviously, the more expensive the van the bigger the burden – £1500 on a £10,000 van.

When a van is leased the VAT is due only on the deposit. Since the deposit can be as little as 10% of the vehicle value this initial VAT burden on a £10,000 van can be as low as just £175 – a cash flow advantage of £1575. Of course, VAT still has to be paid and is then levied on the monthly payments, spreading the burden over the length of the agreement. Also, should you subsequently register for VAT then this is fully reclaimable in the normal manner.

For the customer who is VAT registered this cash flow advantage lasts as long as it takes to complete the next VAT return, i.e., up to a maximum of 4 months.

Tax Benefits

Secondly, normal lease payments are tax deductible in full in the tax year in which they are made. This means a 40% taxpaying sole-trader will be able to claim 40% of this payment back against his tax bill. It is a fact that leasing is the fastest way of getting complete tax relief on a business vehicle. For this reason many accountants will advise their clients to lease wherever possible.


  • Off balance sheet funding
  • Maximum cash flow benefits
  • No depreciation risks
  • Low initial outlay
  • Fixed monthly cost
  • VAT and Tax benefits

Our Partners

Blackhorse Finance
United Rental System
Flex It 28
Offical Supplier and Official Sponsor of Wigan Athletic

Used Vans Wigan

Looking for used vans in Wigan? Your next used van is available now for Westwood Motor Group (Westwood Vans Wigan) number One for used vans Wigan. We sell used Mercedes vans, used Vauxhall vans, used Renault vans and used Ford vans. At Westwood Vans Wigan you will find vans to suit all your requirements...

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Used Vans are available for sale now from Westwood Vans Wigan, the first choice for anyone looking for vans for sale in Wigan. You’ll find great deals on used Transit vans, used Caddy or Sprinter Vans, used Vivaro vans, or used Trafic and Master vans for sale in Wigan, so make Westwood Wigan Vans your first choice.

Second Hans Vans For Sale

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Van Contract Hire and Business Leasing In Wigan

Westwood Vans specialise in van contract hire and leasing in Wigan. You can choose from a wide range of premier brand vans available on business finance (contract hire or business lease). We can supply any make or model including Ford, Volkswagen, Mercedes-Benz and Vauxhall vans as well as finance new or used vans for sale in Wigan.

Van Rental and Car Hire In Wigan

In addition to Van Sales, Westwood specialise in Van Rental and Car Hire in Wigan. Westwood is known locally as the name to trust for the bset deal on van rental and car hire in Wigan. Westwood Motor Group are renowned amongst local business and private customers as the first choice vehicle rental and hire specialists because of the high levels of customer service, attractive rental rates offered to customers and choice of vans and cars available for rental in Wigan.

If you need to know more about Westwood Vans Wigan or to contact us please click or call 01942 825 857 for more details.

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