Car finance options
Click on each option below for a comprehensive overview of that product.
Business warning
Vehicle finance for business is a complex subject and the right finance plan will depend on many factors including business status, cash flow, other borrowings and tax planning.
We strongly advise you seek professional help from the business expert at your local car dealer or one of the specialist business vehicle finance providers.
The business car finance schemes described here are for initial guidance only.
Contract hire
A medium to long term hire agreement where the company pays the finance company an agreed monthly sum for the use of the vehicle over an agreed period. Contract hire can also include service and maintenance charges.
At the end of the agreement the vehicle is returned to the finance company and no further fees are payable (subject to mileage and condition).
Hire/Lease purchase
Similar to a personal hire purchase agreement where the company has the option to purchase the vehicle from the finance house at the end of the agreement. This is done by making the final ‘option to purchase’ payment. The only difference between a hire purchase and a lease purchase is the size of the final payment.Contract purchase
Similar to a hire purchase agreement but there is an assumption that the company will purchase the vehicle for a pre-agreed sum at the end of the agreement. This is done by making the final payment or asking the finance company to resell the vehicle on your behalf.
Contract purchase agreements can also include a separate service and maintenance agreement.
