FINANCE

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

FINANCE LEASE

Finance Lease is a method of funding for VAT registered businesses or companies.

Finance Lease allows you to rent the asset rather than buy it. Normally rentals will be calculated over an agreed term, at the end of which, your leasing company will have recovered its outlay in purchasing the asset on your behalf.

The rentals can be offset against your profits while your leasing company will retain the right to any capital allowances.

CONTRACT HIRE

Commonly associated with vehicles but also available for a variety of other assets, 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. Service, maintenance costs and relief vehicles can also be incorporated in the rentals.

Contract hire offers a complete solution to sourcing, finance, management and ultimate disposal of your assets Service, maintenance costs and relief vehicles can also be incorporated in the rentals. Contract hire saves your business time and the one payment makes budgeting easy. All rentals are subject to VAT

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 asset ownership.

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 purchase would appear as a balance sheet asset for the duration of the contract.

LEASE PURCHASE

Lease Purchase a method of financing a vehicle essentially simillar to hire purchase. The monthly rental is determined by the capital cost of the vehicle, the period and the estimate future value of the vehicle which is arrived at through the annual mileage. The final payment of the agreement is the equivalent to the estimated future value. At this stage the vehicle becomes the property of the lessee. Lease Purchase offers lower monthly payments than hire purchase.

HIRE PURCHASE

Hire Purchase a traditional form of funding and sometimes otherwise known as Lease Purchase. This is a popular choice whereby the asset becomes the property of the lesee at the end of the agreement. The monthly payment can be calculated to suit your cash flow needs. Repayments are calculated by the capital cost of asset and the amount of deposit and number of payments to be made. Alternatively regular payments can be reduced by including a final lump sum (sometimes known as a 'balloon' payment).

PERSONAL CONTRACT HIRE

Personal Contract Hire in essence is the same as contract hire offering private individuals fixed cost motoring over a fixed period of time. The VAT is incorporated in the monthly payment, private individuals do not have the ability to reclaim. Service maintenance costs and relief vehicles can also be incorporated in the rentals.

PERSONAL CONTRACT PURCHASE

Personal Contract Purchase is a lease for private individuals for a fixed period of time, The monthly payment is calculated on the capital cost of the vehicle the annual mileage and the anticipated residual value at the end of the agreement. At the end of the agreement there is the option to purchase the vehicle for the predetermined residual value or alternatively walk away with nothing further to pay.