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UK Van and Commercial Leasing Companies

UK van leasing companies
This Directory can be used to find a company to match your van leasing needs. All leasing companies in this directory are based in the UK and offer free van leasing quotes. All leasing companies listed here have taken an opportunity to list their specialisms in commercial vehicle leasing, this is to make it easy for you to find what you want.

Van Leasing Information

If you are considering leasing your next van or commercial vehicle there are some things you need to know about the type of leases available to you.
Types of Lease...

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If you are considering leasing your next van or commercial vehicle there are some things you need to know about the type of leases available to you. There are three main types of leasing package available to you in the UK.

Contract Hire Contract Purchase Lease Finance

Van Contract Hire

is a Hiring Agreement where the vehicle remains the property of the Finance Company not you. The finance company will dispose of the van at the end of the contract hire period. The contract hire periods are usually between 2 & 4 years. The contract is for a set mileage usually for a maximum mileage of 100,000 miles for petrol engines & 120,000 miles for diesel engines.

You pay a fixed monthly rental for contract hire which will always include:

a) Cost of vehicle funding.
b) Cost of vehicle depreciation.
c) Road Fund License.

For an additional Rental the customer can include the following options to a contract hire package:-

a) All Maintainance, Service, Repairs, Tyres and Batteries.*
b) Relief Vehicle provision.
c) Recovery service.
d) Motor Club Membership.

[ *Accidental damage, driver abuse and glass breakage's are normally excluded. ]

Advantages of Contract Hire

1. Fixed cost motoring:-
The Customer only has to bear the direct costs for fuel and vehicle insurance, plus Excess Mileage charges if the vehicle exceeds the Terminal Mileage figure.
2. Reduced Administration.
3. No responsibility for vehicle disposal on contract hire.
4. Low initial outlay.
5. Low monthly outlay.
6. Finance charged on VAT exclusive price of new and qualifying cars.

Disadvantages of Van Contract Hire

1. No equity on the vehicle at the end of the contract hire.
2. VAT on rentals only 50% of which is reclaimable.
3. Vehicles do not appear on the balance sheet.

Van Finance Lease

This is a Hiring Agreement where the vehicle remains the property of the Finance Company.
The Hirer is responsible for Residual Value ( Balloon Rental ) on Van finance lease contracts.
The Hirer is responsible for all maintenance and Road Fund Licence.
Title in the Vehicle can never pass to the hirer.
On disposal of the commercial vehicle, to a third party, the finance company will refund to the hirer a percentage of the sales proceeds after deducting the Balloon payment.

Advantages of van finance lease

1. Low initial outlay
2. Low monthly outlay. Hirer only pays for depreciation and finance lease charges during the course of lease.
3. Finance lease charged on VAT exclusive price of new and qualifying cars.

Disadvantages of van finance lease

1. No or reduced equity in the van at the end of the finance lease contract.
2. VAT on rentals only 50% of which is reclaimable.
3. Vans and commercial vehicles appear on balance sheet as per SSAP 21.
4. Hirer takes risk of any loss on the sale of the van.
5. Pay interest on outstanding Balloon payment

Business Contract Purchase

A Funding Agreement where title to the vehicle passes to the customer when all payments and fees have been paid.
Agreements are constructed with a deferred payment equating to the anticipated value of the vehicle at the end of the agreement.
The vehicle can be returned to the Finance Company at the end of the contract.
The contract is set for a period usually between 2 & 4 years.
The contract is for a set mileage usually a maximum mileage of 100,000 for petrol engines.

The customer pays a fixed monthly rental which will always include:

a) Cost of vehicle funding.
b) Cost of vehicle depreciation.
c) Road Fund License.

Maintenance and Business Contract Purchase

For an optional maintenance rental* the customer can include the any or all or the following:

a) All Maintenance, Service, Repairs, Tyres and Batteries.
b) Relief Vehicle Provision.
c) Recovery Service.
d) Motor Cub Membership.

Advantages of Business Contract Purchase

1. Low initial Outlay.
2. Low monthly cost.
3. No risk for depreciation.
4. No VAT on finance repayment.
5. Option to own vehicle.
6. Vehicle appears on balance sheet.
7. Fixed cost motoring.

Disadvantages of Business Contract Purchase

1. No or reduced equity on vehicle.
2. VAT on new or qualifying vehicles not reclaimable.
3. VAT on Maintenance element of Repayment.

[ * Note: VAT is not applied to monthly payments but IS due on any maintenance rental ]