|
Personal
Loans:
There
are two types of Personal
Loans available in the
market today.
1) Personal
unsecured loan -
Available from your local
bank or at much more
competitive rates from
online specialists. The
best current offer for a
Personal Loan is at 5.5%
APR.
Click here for a quote
2) Personal secured
Loan - Similar to the
above that can be obtained
for a longer period and is
secured against your home.
Click here for a quote
top
PCP - Personal
Contract Plan
Personal
Contract Plans are an easy way to
have a new vehicle without having
to pay for it all.
You
simply pay a deposit of your
choice over usually between 12-48
Months with a pre-set guaranteed
future value. At the end of the
term you can either buy the car at
this guaranteed future value or
simply give it back.
click here for a Cheap PCP
quote
Want
to know what your credit history
is ?
Check
your credit rating now
top
Hire
Purchase
Hire
purchase is a simple loan
that is provided by the
supplying dealer. Most
suppliers can offer Hire
Purchase through a Finance
company using the vehicle
as part guarantee against
the loan. Hire Purchase is
not the most cost
effective way to fund a
vehicle. The current
average APR is between
8.9-10% APR.
You
pay an initial deposit and
then repay the remaining
amount, plus interest, by
fixed monthly instalments
over an agree period.
Usually between 12
& 48 months).
top
|
Similar
to hire purchase, lease purchase
offers greater flexibility, with
repayments structured around your
business's cash flow situation.
After
the initial deposit, repayments
are made monthly and a percentage
of the original cost of the car
can be deferred to the end of the
agreement, as a 'balloon' payment.
A 'balloon' payment is a final
lump sum, which is based on the
car's estimated future value.
You can make the balloon payment
and keep the car - or part
exchange it, using any surplus
amount after making the final
repayment, towards a deposit on
your next vehicle.
Click here for a Lease Purchase
Quote
top
Contract
Hire
-
Lower
risk for your business -
The vehicle is returned at the
end of the contract, avoiding
any depreciation or disposal
risks.
-
Improved
cash flow control
- Rentals are fixed, therefore
you are protected from
fluctuations in interest
rates.
-
Better
balance sheet
- You don't own the vehicle,
therefore your balance
sheet ratios may be
improved and the VAT is
reflected in lower rental
costs. Your business will
benefit from writing down
allowances/lower
rentals.
-
Reclaim
VAT
- If its for private use the VAT
recovery on the finance element
is restricted to 50% (although a
proportion may be charged to
Profit and Loss). VAT recovery
on the service element remains
100% regardless. -
Protect
your capital budgets
- Contract Hire rentals are
treated as a revenue item,
leaving your capital budgets
unaffected.
-
Rentals
chargeable against taxable
profits
- Rentals are chargeable
against your taxable profits
so it may be possible to
reduce your tax liability,
(restrictions apply).
-
Replacement
vehicles
- Peace of mind, in the
event of accident or breakdown
replacement vehicles are
possible.
Click here for a Lease Purchase
Quote
top
|
