Contract Hire cars and vans

Contract Hire cars and vans from Mustard Vehicle Leasing

By: Mustard Vehicle Leasing  02/12/2010
Keywords: car finance, car leasing, contract hire

 

"Cash is King"

  • 1. Tax Efficiency. If your company is cash rich buying a car before the end of the financial year may be a good way to minimize Corporation Tax.
  • 2. Cost. If you own the car the ongoing monthly costs are significantly reduced.
  • 3. Flexibility. If you bought the car for a particular employee who then leaves the company, you can just sell it.
  • 4. Freedom. You can drive as many miles as you like with no penalty.
  • 5. Investment. If you buy the right car depreciation may be minimal.
  • 6. Trade up. When trading up into a new car, the residual value of your purchased car can offset the cost of the new car when you trade it in.

"The appearance of ownership equals ownership"

  • 1. Variety. How often do you want to change your car? Once every two or three years? Maybe 18 months? A lease gives you a variety of options.
  • 2. Expenditure control. Leasing a vehicle helps you to budget - no surprises.
  • 3. Cash Flow. Leasing a vehicle for your business allows you to keep the rental expenses off the balance sheet and on the P&L sheet instead, assisting your company with depreciation.
  • 4. VAT. By leasing a vehicle for your business you are able to reclaim 50% to 100% of your VAT on the monthly rentals and 100% of the VAT on maintenance.
  • 5. Maintain lines of credit and avoid additional costs. Your business may already have lines of credit with other finance providers. You do not have to tap into that resource for leasing a vehicle.
  • 6. Expense stops when equipment stops. You know how much the running costs will be as they are fixed in advance - and you know when they will end.
  • 7. Off-set periods of low cash. Many businesses are cyclical and leasing can help you manage the down months.

*These notes are merely for guidance purposes and all finance decisions should be confirmed with a Certified Accountant

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