Vehicle Finance Solutions
Anglo Scottish has the answer to all your vehicle financing needs. We provide finance solutions for cars, vans, HGVs and trailers, for both business and private customers, at very attractive and competitive rates. Our flexible approach is ideal for supporting both business and personal customers alike, and we offer a wide variety of vehicle finance options.
Hire purchase offers flexible deposits and fixed monthly payments, as well as the option to purchase the vehicle at the end of the term. Extremely popular, this type of vehicle finance provides multiple options when you come to the end of the contract, including outright ownership of the vehicle. As this can bring the added bonus of potential capital allowance benefits, hire purchase may be the flexible vehicle funding solution that works for you.
Personal Contract Purchase (PCP)
A popular form of car finance which brings flexibility and freedom of choice for private individuals. At the start of the PCP contract you pay an initial ‘deposit’ followed by fixed monthly instalments. At the end of the vehicle finance contract there is a final balloon payment (set out at the start of the contract) which is due if you wish to keep the car. If you don’t wish to pay the final balloon and take ownership of the vehicle, you can simply return the car or use any equity in the car to build into a contract for a new car.
Business Contract Purchase / Lease Purchase
Business Contract Purchase is for businesses that prefer to retain an element of ownership of their vehicles, linked to their predicted future residual value. As with contract hire, you make a fixed monthly payment based on a fixed contract term and an anticipated mileage. However, with this type of vehicle finance solution, a final payment is set at the beginning of the contract based on the predicted future value of the vehicle at the end. This gives the business the option of buying the vehicle at the end of the contract, selling it to settle the residual value amount (and banking any profit on resale) or simply returning it to us.
For those businesses that don’t need or want to use vehicle finance as a means of acquiring their vehicles, or for those that simply prefer to own their assets, outright purchase may be the solution. If that is the case, Anglo Scottish can still help. With years of experience of working in the automotive industry, we have access to excellent manufacturer discounts and can source your vehicles for you at very competitive prices.
Finance lease is a popular finance solution for businesses needing cars, vans and commercial vehicles but where contract hire is not suitable. It offers flexibility and tax advantages to eligible companies who are able to use the vehicles without facing the high upfront cost of outright purchase but still show the vehicles on the balance sheet as if they were owned. Flexible payments allow a business to either cover the entire cost of the vehicle, including interest charges, over an agreed period. Or you can opt to pay lower monthly rentals with a final balloon payment based on the anticipated resale value of the vehicle.
As the name suggests, Personal Leasing is intended for private individuals who do not want to own their car but would like a company car experience, without paying company car tax. Fixed monthly payments are for a set period, typically two to four years, and can include routine servicing, maintenance, annual road fund licence, tyre replacement and roadside assistance. This is a good option for employees who have chosen to take a car allowance or for those who are not eligible for a company car.
Now one of the most popular solutions with businesses for financing new vehicles, contract hire offers fixed monthly payments, variable repayment periods, the ability to pool mileage across the fleet and no concerns about disposal or depreciation That makes budgeting for your vehicle costs very straightforward. Servicing, maintenance and tyres can be included as part of the package to provide complete peace of mind. At the end of the contract hire agreement, you simply hand back the vehicle with no worries about its disposal value.
One option that businesses may want to consider is releasing equity from their existing fleet via our sale and leaseback facility.
This causes no disruption to the current vehicles, but is a very effective way of providing additional funding at a time when you may need it most. We agree a value for your fleet with you and then lease the assets back to you over a pre-agreed period. Any new vehicles are acquired through contract hire or leasing solutions in a very tax-efficient manner.
Our team of vehicle finance experts are waiting to talk to you today. For further advice on all the vehicle finance solutions available, please get in touch.