Leicester 01162 852 851 | Loughborough 01509 215 731
Car Finance for business
Car finance for business
Business Contract Hire
Designed for businesses requiring fixed monthly rentals, no risk of depreciation and if you select maintenance, no repair, maintenance or administration worries. The monthly rental is determined by the cost of the vehicle, the period and mileage covered as well as the resulting depreciation.
- Low initial outlay
- Fixed rentals
- Repayment periods can be monthly, quarterly, half yearly or annually
- Contract periods between 24 and 48 months
- Fixed budget payments
- No disposal or depreciation risk
- Rentals can be offset against taxable profits
Business Contract Purchase
Flexibility to drive the car of your choice, Business Contract Purchase is a convenient and affordable method of driving away the Toyota of your choice. Its flexible too. With low deposits from just one monthly payment you don’t have to worry about finding a large outlay. At the end of your agreement you have choices of what to do next.
How does it work?
Toyota Financial Services gives your car a guaranteed future value (GFV), which together with your deposit is deducted from the cash price so your monthly payments are calculated on the difference plus the cost of borrowing the money. This makes driving your Toyota very affordable and has the effect of reducing your monthly payments in comparison to more traditional funding methods such as Hire Purchase or Personal Loans.
- Lower fixed monthly payments making budgeting easier
- A low deposit – from the equivalent of one monthly payment
- Lower running costs
- At the end of the agreement – part exchange for a brand new Toyota*
- At the end of the agreement – Keep the car by paying the final instalment*
- At the end of the agreement – Hand it back with nothing further to pay*
*Terms and conditions apply
Business Lease Purchase
You decide your initial outlay and the period. Monthly payments are then payable for the period of the agreement. Monthly payments can be reduced by agreeing an anticipated future value on the vehicle known as the balloon payment. This payment is made at the end of the agreement. At the end of the agreement providing all outstanding sums have been repaid, you own the vehicle.
- Low initial outlay
- Fixed or variable rate available
- Repayment periods can be monthly, quarterly, half yearly or annually
- No VAT on payments
- You can incorporate a final balloon payment at the end of the agreement, which simply reduces the monthly payment during the contract.
- Vehicles are treated as an asset and appear on your balance sheet; writing down allowances can be offset against taxable profits along with interest charges in exactly the same way as traditional Hire Purchase.
Hire Purchase
You decide your initial lump sum and repayment period. Monthly payments are then payable for the period of the agreement. At the end of the agreement, provided all outstanding payments have been made, you own the vehicle.
- Low initial outlay, usually 10% of the vehicle price.
- Fixed monthly repayments
- No VAT on payments
- Vehicles are treated as an asset and appear on your balance sheet; writing down allowances can be offset against taxable profits along with interest charges.
Finance Lease
With Finance lease you pay fixed monthly rentals. At the end of the lease 97.5% of the sales proceeds are repaid to you as a rebate of rentals. Monthly rentals can be reduced by agreeing an anticipated future value on the vehicle known as a balloon rental. This rental is paid at the end of the agreement.
- Low initial outlay
- Fixed rentals and optional balloon payment
- Repayment periods can be monthly, quarterly, half yearly or annually
- Ability to tailor the final rental to suit your budget
- Contract periods between 12 and 48 months
- Rentals are allowable against profits reducing your tax liability
