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Finance Options

Vehicle Maintenance

Fleet Management

Flexi-Hire

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Finance Options

You can choose to buy your vehicle(s) outright, or lease using one of the funding methods below.

Fleet Elite will always advise you which package will be most suitable and cost effective. Contact us for free impartial advice.

Both Road Fund License and Roadside Assistance for the entire contract period are included as part of a lease contract.

Contract Hire

Contract Hire allows you the use of vehicle for a fixed period of time, with a predetermined mileage, at a fixed monthly cost, without having the problems and costs associated with owning a vehicle.

If you choose a contract with additional maintenance and Roadside Assistance then there is the further benefit of spreading many of the normal service maintenance costs over the term of the agreement.

The advantages of Contract Hire vary according to individual requirements, however some key benefits may include:

Off-balance sheet
Excellent Special Offer rates always available on various models.
Alternative credit line
Our combined buying power to obtain fleet discounts
Possible VAT and tax advantages dependent upon your individual circumstances
Accurate budgeting
Fixed cost motoring for up to four years
Administration & overheads reduced with the removal of purchasing maintenance, funding and disposal
No risk on resale values, interest rates, operating costs
Full manufacturer warranty

Often far too much of your time will be taken up in the administration of the funding, acquisition, maintenance and disposal of company vehicles. Contract Hire, with or without maintenance can be summarised as a no risk form of vehicle funding that relieves these burdens.

Contract Purchase

This option is designed to give you the enjoyment of obtaining a new car every few years, without having to buy it outright.

Instead you simply pay for and have the use of the car during the term of the agreement. At the end of that time you can either return the car, or you can buy the car outright for an agreed price, set at the start of the contract and based upon an agreed mileage, period of contract and residual value of the car.

Key Benefits:

Use the buying power usually only available to large Fleet customers
Eliminate risks involved in acquiring a vehicle
Eliminates vehicle depreciation risk
Competitive rates and discounts
Finance company underwrites the driver direct

You can look forward to worry free motoring. Not only do we receive the highest levels of service and support from our supplying dealership network, we also command significant discounts on maintenance contracts.

This funding package is based on a hire purchase agreement, combined with options to offset some of the risks associated with running a car.

Finance Lease

Finance Lease is available for PLC's, Limited Companies and Limited Liability Partnerships. When a vehicle is purchased, an estimate is made of its resale value at the end of the contract, based on a predicted total mileage. The difference between the purchase price and the resale price is then charged to you in the form of monthly payments.

However, in order to reduce the monthly payments, the full amount of the difference is not charged. Instead, a percentage of the difference is set aside that you will be required to pay at the end of the contract, which is referred to as a balloon payment.

At the end of the contract you can either have the Finance Company sell the vehicle for a nominal fee or sell the vehicle to a third party. The balloon payment is then settled for you from the proceeds of the vehicle resale (the actual mileage of the vehicle could have a positive or negative impact on the balloon payment based on the accuracy of the initial prediction.)

There are no end-of-contract recharges for damage.

Low monthly payments

Because the payments are fixed you can forecast cash-flow accurately.
Payment profiles can be set to suit your funding and balance sheet requirements.
The asset shows on balance sheet.
50% of the VAT on the finance rental can normally be claimed on cars, assuming the vehicle is used for both business and private purposes.
100% of the VAT on finance rentals can normally be reclaimed on commercial vehicles.
Finance Lease is available on cars and commercials up to 6.5 tonnes.

Flexible Lease

Flexible Lease is available for PLC's, Limited Companies and Limited Liability Partnerships. It is similar to traditional methods of funding, whereby the total price of the vehicle, including interest and costs, is charged back over an agreed period of time in the form of monthly payments.

However, where Flexible Lease differs from traditional funding methods, such as bank loans, is the ability to supply the vehicles cheaper than the retail price.

At the end of the contract, the vehicle has been fully paid for, which means you do not need to worry about the vehicle mileage. And there are no end of contract recharges for damage.

The vehicle is then transferred back to the Finance Company and they dispose of it. Alternatively, you have the option of selling the vehicle yourself to a third party. Any proceeds from the sale are passed back to the client, minus fees. You cannot retain the vehicle at the end of the contract.

Simple and Flexible

Useful if you require on balance sheet funding.
Offers increased flexibility as the vehicle can be extended at the end of the term, a year at a time, for an indefinite period known as a Peppercorn Rental.
Because the payments are fixed, you can predict your cash flow.
Flexible Lease is available on cars and commercials up to 6.5 tonnes.
Because the full price of the vehicle is funded, at the end of the term it is paid for. Therefore there is no final balloon payment.
There are no mileage restrictions or excess mileage charges.
50% of the VAT on the finance rentals can normally be claimed on cars, assuming the vehicle is used for both private and business purposes.
100% of the VAT on the finance rentals can normally be reclaimed for commercial vehicles.