PLANT FINANCE

From straightforward Hire Purchase to Operating Lease we will guide you through to the funding package that best suits you specific requirements.

To find out more about the finance options that Go Vehicles can offer, please choose one of the links on the right-hand side.

HIRE PURCHASE

Hire Purchase a traditional form of asset funding whereby the asset becomes the property of the lesee at the end of the agreement. The monthly payment is calculated by the capital cost of the asset, the amount of deposit and number of payments.

CONTRACT PURCHASE

Contract Purchase allows the purchase of an asset over a predetermined time period with a fixed monthly cost. This product removes the depreciation risks which are normally associated with ownership of any asset.

The monthly payment is calculated on the capital cost of the asset, the period of the agreement and the anticipated residual value at the end of the agreement.

At the end of the agreement there is the option to purchase the asset for the predetermined residual value or alternatively walk away with nothing further to pay.

This asset would appear on the company's balance sheet for the duration of the contract.

FINANCE LEASE

Finance Lease is a method of funding for VAT registered businesses or companies. You choose to pay the either entire cost of the asset, including interest costs over an agreed lease period or pay lower monthly rentals with a final payment based on the anticipated resale value of the asset.

The monthly rental is determined by the capital cost of the asset, period of agreement and the anticipated residual value of the asset. The final payment of the agreement is the anticipated residual value.

This asset would appear on the company's balance sheet with the capital amount of the outstanding rentals appearing as a subsequent liability.

OPERATING LEASE

If finance is required for a high value asset, specialist equipment, or for assets that are required to support a specific contract an operating lease can be highly effective. The rentals are based on the value of the asset over the period in which it is required, and as a result can be linked directly to the revenue the asset generates. Unlike finance lease, rentals do not cover the full cost of the asset, however risk is eliminated as a residual value for the asset at the end of the term is calculated this residual value is guaranteed. The cost of the lease rentals can be deducted from the profit generated by the asset and it won't appear on the balance sheets.

CONTRACT HIRE

Contract Hire is a lease agreement set for a period of time with a fixed monthly rental which is based on the capital cost of the asset, period of the agreement, and the anticipated residual value. Service and maintenance costs can also be incorporated in the rentals.

Assets under a contract hire agreement do not appear on the balance sheet, and all rentals are subject to VAT.