Finance

Hire Purchase

Hire Purchase offers a straightforward way to spread the cost of a new car. You have a fixed rate of interest with fixed monthly payments, making budgeting simple and easy.

Hire purchase benefits

• Total control - the asset is yours at the end of the agreement
• Flexibility in your repayments - makes for easy budgeting
• Fixed or variable interest options - it's your decision which is best for you
• Tax advantages - normally you can claim writing-down allowances and perhaps capital grants, while repayment interest may be offset against profits and VAT is usually reclaimable (special rules apply to cars)

There is great flexibility with this type of asset finance. We can structure it in various ways, with a flexible deposit, fixed payments and perhaps a balloon final lump sum.

Hire Purchase offers a straightforward way to spread the cost of a new car. You have a fixed rate of interest with fixed monthly payments, making budgeting simple and easy.

Lease Purchase

Hire purchase with a balloon offers lower monthly payments than normal hire purchase. Instead, at the end of the agreement, you can make a final lump sum payment (or 'balloon') to own your car.

Balanced Payments Plan

Balanced Payments has the advantage of fixed monthly payments. However, unlike Hire Purchase, where the interest is fixed, balanced payment plans track changes in the finance house base rate.

Finance Presentation

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Contract Hire

Contract Hire from Britannia Leasing - one of the UK’s leading car leasing companies - could prove ideal for your business. You can focus on core activities, by fixing your costs and avoiding the burden and risk of owning your own vehicles.

Contract hire benefits

• Fixed monthly payments - easier budgeting comes as standard
• Flexible agreement terms - variable terms and mileage available
• Vehicle maintenance option - include servicing and maintenance in your rentals to help spread the cost
• Eliminate risk of asset depreciation - at the end of the agreement, you simply hand back the vehicle, subject to return conditions and excess mileage

For a set monthly sum, everything except fuel and motor insurance can be taken care of in your finance package - including servicing, tyres, even the tax disc. At the end of the agreement, you simply hand back the vehicle. Or you could negotiate a favourable extension to the contract.

Personal Contract Purchase

Contract purchase fixes your monthly payments and offers you flexible terms. This type of finance gives you the opportunity to either retain or return the asset at the end of the agreement.

Contract purchase benefits

• Fixed monthly payments - budgeting is easier when you know the costs in advance
• Flexible agreement terms - variable terms and mileage available
• Optional maintenance and added value services - can be included in the agreement for certain assets
• Guaranteed resale value - we will fix an asset resale value to take effect at the end of the agreement
• Full ownership at end of contract - you own the asset once all payments have been made

This finance may be preferable if you want to own your asset, yet avoid the risk of depreciating assets. A guaranteed residual value helps improve your cash flow during the agreement while making the asset cost effective to buy.