Business Finance Lease or Flexible Lease

Eligibility

Businesses must have been trading for a minimum of two years
Subject to status, application and necessary credit acceptance
Available only to cars, vans, flatbed trucks up to 3.5 tonnes and 4x4/SUV requirements. We are unable to assist with HGVs, agriculture machinery/vehicles, motorbikes, camper vans, couriers, driving schools, chauffeurs, or hire and reward
Maximum mileages are based on vehicle model and type of fuel
Commercial vehicles up to 3.5 tonnes and all fleet sizes

Useful information

The customer retains the risk of the resale of the vehicle at the end of the contract
There are potential VAT reclaim benefits where customer’s status allows
Applicable to Finance Lease - at contract end, we estimate a resale value based on the chosen vehicle, term and mileage. All sales proceeds, less fees, are used to settle the estimated resale value, which may result in surplus or deficit payments
Applicable to Flexible Lease - the whole cost of the vehicle is depreciated over the contract term, providing a fully repaid alternative to a Finance Lease. At the end of the contract, all sales proceeds, less fees, are returned to the customer
Because the cost is fully repaid over the contract duration, Flexible Lease monthly repayments will be higher than Finance Lease
Can include management services such as maintenance, breakdown cover and replacement vehicles; the charge for these is also linked to the vehicle mileage and contract duration
With Flexible Lease, you can choose to continue using the vehicle at the end of the primary term for a nominal annual fee; act as our agent during the disposal to a third party; or we can collect the vehicles and arrange for disposal