Finance Lease offers a flexible alternative to contract hire and is ideal for businesses that require high mileage vehicles or expect their needs to change significantly during the lease period.
As part of a finance lease agreement you can choose between a fully amortised lease, paying for the entire cost of the vehicle, including interest charges over the contract period. Alternatively, you have the flexibility to reduce your monthly rentals by incorporating a final balloon payment at the end of the contract based on the anticipated resale value of the vehicle.
You are responsible for the residual value risk of the vehicle and do not take ownership of it at the end of the contract. This provides the opportunity for VAT registered companies to reclaim up to 50% of the VAT for cars and 100% for commercial vehicles.
Additional benefits of a finance lease agreement include fixed payments, low upfront costs, no penalty charges for additional mileage or damage at the end of the agreement and the potential to benefit from an increase in the estimated value of the vehicle.
FleetEurope can provide administrative support for the vehicle throughout the finance lease agreement, including servicing, maintenance, accident management and breakdown cover.
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Through our competitive tendering service we work in partnership with many of the UK’s leading finance providers to ensure you always receive the most competitive rates available for your company vehicles.
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