What Vehicle Funding Options are Available?

Lightwood Contract can offer a range of car financing options. Please click the links below to go directly to the specific topic.

Contract Hire
Finance Lease
Hire Purchase / Lease Purchase
Drivewise (Personal Contract Purchase for Private individuals)

Contract Hire

This is the solution for companies who want to concentrate on important business activities and avoid the financial risk and administrative burden created through the ownership of a vehicle or fleet.

Key Features and benefits:

Fixed rentals for the whole package making budget planning easier.
Flexible terms to meet your requirements, variable duration and mileage terms.
Maintenance of vehicles can be included in monthly rentals, spreading the cost.
Removes depreciating assets from the balance sheet.
Removes the associated risks of owning the vehicles.
50% VAT reclaimable on the finance element of agreement, 100% on the maintenance elements of the agreement is applicable if vehicle is used for business and private use.
100% of the VAT is recoverable on both finance and maintenance if vehicle is used solely for business.
Flexible invoice arrangements to reduce administration.

Finance Lease

A popular and flexible solution to vehicle funding. Finance lease offers all the practical benefits of ownership without any of the potential burdens.

Key Features and Benefits:

When the asset is sold you normally receive the majority share of the sale proceeds.
The flexible repayment structure gives you immediate and full use of the asset for a minimal outlay.
Rentals can be set to cash flow (beneficial if your business is seasonal.)
Fixed or variable interest rate - you make your own assessment and choose accordingly.
Rentals can normally be offset against taxable profit*.
Asset treated as ‘on-balance sheet’.
VAT is paid on the rentals not the purchase price*.
The finance company remains the owner of the asset, claims writing down allowances, and these reflect in the rentals you pay.

* Special rules apply to company cars

Hire Purchase / Lease Purchase

A straightforward repayment facility where you ultimately own the vehicle. Repayments are structured in a flexible way using initial payments and/or a ‘balloon’ (final lump sum).

Key Features and Benefits:

With ownership you have total control over the asset.
The vehicle is registered in the name of the company / customer.
Ownership normally carries the potential for claiming writing down allowances and or/capital grants, including any enhanced first year allowances.
VAT on the cost of the asset is normally reclaimable*.
Fixed or Variable interest rate - you make your own assessment and choose accordingly.
The interest element of repayments can normally be offset against taxable profit*.
The asset appears on your balance sheet.
Monthly payments are not subject to VAT.

* Special rules apply to cars.

Drivewise (Personal Contract Purchase for Private individuals)

This option gives you the opportunity to afford the car of your choice based on what you can afford. It covers all the associated maintenance costs that can bring up a minefield of problems.

Key features and Benefits:

Low initial deposit and fixed monthly payments.
The contract length and mileage are tailored to your exact requirements.
Optional GAP insurance to cover any outstanding lease costs if your car is written off.
Optional motor insurance with a fixed three year monthly premium.
Optional comprehensive breakdown and recovery service, with European cover, is included in your contract.
Optional inclusive maintenance contract - with routine servicing costs met, including tyres, batteries etc., for a fixed monthly cost .
At the end of the contract period you simply hand the car back and choose another vehicle, without having to negotiate for the best deal. Alternatively, you can make a final installment payment and the car is yours to keep.

How can we help?

We specialize in vehicle funding for business. We have contacts within most major leasing companies and with all vehicles manufactures of cars and vans. We enjoy the same discount as the large corporate companies but as we are only a small organization, our overheads are very low and this reflects in the low rentals we offer.

We offer a full range of flexible finance packages with full or non maintenance cover. On all vehicles we can offer 12 - 60 month contracts with mileage going up to 160,000 per annum. All contracts are flexible and can be tailored to your needs.

The team here at Lightwood Contracts are able to bring you the best value package in the industry on all types of finance options. We are able to supply and finance the vehicle you require at the LOWEST POSSIBLE PRICE, which saves you time and money to concentrate on your business. We are not tied to one supplier or funder allowing us to give you the best possible price.

Please feel free to give any of our team a call to discuss all of you fleet needs. You could make an appointment at your premises if you so wished. Please give us a few minutes of your time and we could save you hours of time and leg work to find the best deal for you.

Call now and give us a try.