Product name |
Who is the registered owner? |
Road tax included? |
Option to purchase at the end of term? |
Maintenance package available? |
Any end of contract charges? |
|---|---|---|---|---|---|
| Personal Contract Hire | Finance company | Included for the full term | No guaranteed option | Yes | There may be excess mileage and/or damage recharge |
Product name |
Who is the registered owner? |
Asset on balance sheet? |
VAT treatment |
Road tax included? |
Option to purchase |
Maintenance package available? |
Any end of contract charges? |
|---|---|---|---|---|---|---|---|
| Business Contract Hire | Finance company | No as a leased vehicle is not counted as an asset. | *Claim 50% of your VAT on payments and 100% of VAT on maintenance costs. | Included for the full term | No guaranteed option | Yes | There may be excess mileage and/or damage recharge |
| Business Finance Lease | Finance company | Yes | Claim up to 50% of the VAT on cars and 100% on commercial vehicles (subject to being VAT registered) | No, it is your responsibility | No - vehicle is either sold to a third party or pay the outstanding balloon payment and operate the vehicle under a peppercorn agreement | No | No penalty charges for additional mileage or damage at the end of the agreement |
