We deal extensively with a full range of companies and businesses, and when considering company / business vehicles you generally have two options. We have a wealth of experience in Vehicle Finance, let us break down your options in more detail.
Buying a Company Car
By purchasing a company car the initial outlay is high, but this will lead to eventual ownership. Once you have purchased the vehicle you will need to pay for costs and maintenance of it as these issues arise.
The cost of the vehicle needn’t be high and your company will eventually benefit owning this asset. If you are planning to utilise the vehicle over a long period of time this could be a good option.
Leasing a Company Car
By leasing a car your business uses the vehicle for a fixed amount of time whilst paying monthly installments. This means having a company vehicle is often more accessible and predictable as you know what you are paying each month. This also includes repair and maintenance costs in many instances.
There are also some advantages with regards to VAT with this option with VAT recoverable at 50% on supply of the vehicle and 100% on maintenance.
Leasing a car will mean you don’t own the vehicle at the end of the agreement, but there is no risk of being left with a negative equity on it.
CMF can assist you to make the right decision for you when it comes to acquisition of any vehicle for your business. Why not call us on 01928 739 712 to find out more and speak to one of our experienced team.
