Please note there has been significant legislation changes to Vehicle Excise Duty (VED) which will affect all vehicles registered 1st April 2017 onwards. What you need to know in five points.Tap here to read more
  1. First Year Rates (FYRs) of VED will vary according to the carbon dioxide (CO2) emmisions of all vehicles raning from £0 for zero-emmision right the way up to £2000 for cars with CO2 over 255g/km.
  2. Subsequent years a flat standard rate (SR) of £140 will apply in all subsequent years, except for zero-emissions cars for which the standard rate (SR) will remain £0.
  3. Cars with a list price above £40,000 will attract a supplement of £310 on the standard rate (SR) after the first 12 months for the next 5 years.
  4. After 5 years the added £310 supplement will no longer be paid, reverting back to the standard rate (SR).
  5. All cars registered before 1st April 2017 will remain in the the current VED system, which will not change.
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What is Business Car Leasing?

 

 

 

What is Business Car Leasing?

Business car leasing is similar to personal Leasing in the sense that it is an agreement that offers the use of a vehicle for an agreed period of time at a series of fixed monthly rentals. The main difference is that business leasing prices are all excluding VAT and offer many lucrative tax benefits for eligible companies. Business car leasing is often used as the overarching term for many forms of private leasing.

What is Business Contract Hire?

Business contract hire is a form of vehicle leasing that is most suitable for business owners, sole traders, partnerships and limited companies. Much like Personal contract hire, with Business contract hire you will pay for the use of the vehicle during the agreed duration of your contract (usually 24, 36 or 48 months) by a series of fixed monthly payments. At the end of your contract you simply return the vehicle to the finance company. Business contract hire is easily the most common form of leasing and is often the most advantageous. It allows you to change your car regularly and avoid the harsh risk of depreciation.

What is Lease Purchase?

A business lease purchase is another finance option for businesses. It works best for those who are looking to buy the vehicle but don’t want to commit to a large upfront payment. Typically, in a business lease purchase a series of low monthly rentals over an agreed contract length will be followed by a “balloon payment” in order to buy the vehicle at the end of the agreement based on how much the vehicle is worth.

What is Finance Lease?

Finance Lease is an incredibly popular option for many different business types as it offers plenty of flexibility and a number of tax advantages. It often proves particularly popular with businesses looking for a commercial vehicle. Finance Lease typically works in two forms. You can either pay the entire cost of the vehicle over an agreed contract length via a series of monthly payments or alternatively you can pay low monthly rentals with a “balloon payment” at the end of the agreement which acts as a final price based on the vehicles expected residual value. Unlike many forms of Leasing where a finance company funds the vehicle, with Finance Lease the vehicle will remain the property of the lease company or broker throughout the duration of the contract.

 

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Select Car Leasing is a trading style of Select Contracts (UK) Limited and the firm is authorised and regulated by the Financial Conduct Authority FRN 670832. Select Car Leasing are a credit broker not a lender. VAT Registration No 181 8746 74. ICO Registration ZA076253. Company Number 06569098. Select Car Leasing are proud to be a member of the British Vehicle Rental and Leasing Association (BVRLA) No 1846.


Copyright 2016 Select Car Leasing. All Rights Reserved.

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Select Car Leasing is a trading style of Select Contracts (UK) Limited and the firm is authorised and regulated by the Financial Conduct Authority FRN 670832. Select Car Leasing are a credit broker not a lender. VAT Registration No 181 874674. ICO Registration ZA076253. Company Number 06569098.

Select Car Leasing are proud to be a member of the British Vehicle Rental and Leasing Association (BVRLA), No 1846.

© Copyright 2016 Select Contracts UK Limited. All Rights Reserved.

 

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