Finance and Running Tables

Finance/Taxation Issues
Meeting Your Requirements Contract Hire Contract Purchase Hire/Lease Purchase Finance Lease Personal Leasing Outright Purchase
Accurate monthly budgeting Yes Yes Yes Yes Yes No
Improved cash flow Yes Yes Yes Yes Yes No
Minimum capital expenditure Yes Yes Yes Yes Yes No
Fixed interest rate Yes Yes Yes Yes Yes N/A
Capital allowance available No Yes Yes No N/A Yes
Rental allowable against taxable income Yes No No Yes N/A No
Ownership of vehicle¬ No Yes° Yes No Yes° Yes
VAT chargeable on rentals Yes No No Yes No No
VAT recoverable on monthly rentals Yes* No No Yes* No No
VAT recovered on purchased cost by Finance Co and passed on to customer in lower rental Yes No No Yes No No
No depreciation risks Yes Yes No No Yes No

Vehicle Running Requirements
Meeting Your Requirements Contract Hire Contract Purchase Hire/Lease Purchase Finance Lease Personal Leasing Outright Purchase
No vehicle disposal problems Yes Yes No No Yes No
Reduced administration Yes Yes Yes Yes Yes No
On-going advice/support Yes Yes Yes Yes Yes No
Road fund licence provided Yes Yes No No Yes** No
Breakdown rescue cover Yes Yes No No Yes No
Replacement vehicle in case of breakdown Yes Yes No No No No
Fixed charge maintenance° Yes Yes No No Yes No
VAT chargeable on services Yes Yes No No Yes Yes
VAT recoverable on services Yes Yes No No N/A Yes
Optional GAP insurance*** Yes Yes Yes Yes Yes No

¬ At end of contract with financing products
° Optional
* Only 50% of the VAT relating to the finance is recoverable if private use. 100% if only business use. 100% of the service element VAT is recoverable if business use.
** Road fund licence is provided for the first year only.
*** GAP insurance covers the short-fall between the write-off and value at time of loss.

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