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Lease Products Explained

Most Popular Questions

What Is The Difference Between Leasing And Contract Hire If Any?

Finance Lease gives you the benefits of taking advantage of equity built up in the vehicle. You also benefit from a low deposit, which can be as little as just one payment upfront. Monthly rentals are 100% tax deductible if you are VAT registered. contract hire is the perfect product for you if you want fixed cost motoring and are confident about the mileage and condition of your vehicle over a set period of time. It is an easy and cost effective way to fund vehicles, which would enable you to control one of your biggest business expenses. Free up capital and get a new vehicle without the up-front costs, freeing up money for you to invest elsewhere in your business. Tax benefits include reclaiming 100% of the VAT on all your payments and maintenance charges (if you have that included). Rentals are also 100% allowable against corporation tax.

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I Am About To Start My Own Courier Business As A Sole Trader - Am I Better Renting Or Leasing A Van?

Renting a van is normally done on a short term basis, typically a van rental company will only rent out the vans they operate for around 45% of the time available, when you take that into account along with the cost of insuring multiple drivers then its not surprising that costs can range from anything from £25 per day right up to £60+ depending on the size of van required and which company you use. You might get this down to something more like £15 per day on a small van for a 30 day agreement . That is still very expensive for 30 days- i'll let you do the maths. Now that might be ok if the business your entering into is something that is completely new to you and there is uncertainty on just how much you will be earning However, if its a business you know and/or you have done the research and you fairly confident in the long term income potential. Then leasing a van on a longer term agreement like finance lease or contract hire would definitely be much more affordable.

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Which Leasing Option Is Best For Me? I'm Confused!

The main differentiator between leasing options is what you'd like to happen at the end of your lease contract. A Finance Lease can be taken over anywhere between 2 years and 5 years.  At the end of the term there is a "Final Payment" which is calculated by the annual mileage you do. At the end of the term you can either pay the final payment off, as a one off payment, or you can spread the cost over a further period of time. This will then keep the vehicle, if you wish to do so. Alternatively, you can sell the vehicle to a 3rd party, as long as the final payment is settled at the same time. With a contract hire this can also be taken over anywhere between 2 years and 5 years and at the end of the term the vehicle is simply returned back to the lease company. Therefore, no final payment at the end. Your monthly rentals are calculated by the annual mileage that you do and if you were to exceed that mileage you have stated then there would be an excess pence per mile charge at the end of the term. A Contract Purchase can also be taken anywhere between 2 and 5 Years and at the end of the term there is a "Final Payment". The options at the end do differ from a Finance Lease. You can hand the vehicle back and walk away. However, if you have gone over the stated mileage there will be an excess pence per mile charge. You can also settle off the final payment and take ownership of the vehicle or you can part exchange the vehicle for something new.

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All Questions

Hi, I am currently considering a new lease on either a Skoda Yeti, Land Rover Defender, or a small van. I have access to a good deposit now of £4000, which I can increase by £1000 per month, and can spend up to £450 (less the better!) per month if needed. I am a self employed railway engineer and plant operator. I currently drive and use as both a family car and work vehicle a 14 year old Range Rover (P38) which has never let me down in the 11 years I have owned her - with 112k miles. I would be looking to purchase a new vehicle within the next three months so am doing my homework now. I would like to know under a 24 month lease scheme what happens to the leased vehicle at the end of the agreement and what options will I have regards to changing or keeping it? Also, will I need another large deposit for my next agreement? With thanks, Simon.

Our expert Gary answered... Hi Simon, thank you for getting in touch with us. Looking at your question you have a very healthy deposit, and looking at what you are expecting to pay monthly I think we will be well under your budget, which is great. For the deposit on your next vehicle you can choose a deposit that suits you - you do not need to put down the same as before, but the bigger the deposit the lower the monthly payments. Finance Lease would be a good option for you as, providing the vehicle is in good condition, you may well have equity in the vehicle at the end of the contract which you can put towards a deposit on a new one. Let me very briefly talk you through the two leasing options. contract hire is definitely worthy of consideration if the use of a van/car for a fixed period of time is more important to you than ownership. You'll have the option to include a full maintenance package and there's no worries about depreciation. For commercial vehicles, its tax efficient as monthly repayments can be offset against taxable profits and if you're VAT registered, you can claim back all of the VAT on your monthly payments. Finance Lease, on the other hand, gives you the benefit of owning your van whilst building up equity over a period of 2-5 years. There are also no strict mileage or damage penalties. For commercial vehicles, monthly payments are 100% tax deductible and you can reclaim up to 100% of the VAT if you're VAT registered. Hope this helps. Kind regards, Richard Wells, Senior Account Manager

Hi, I'm looking to get a Ford Transit van to use in my shop/grocery business. I like the look of the Ford Transit Custom 290 Limited LWB Low Roof, but I am unsure as to the best type of lease arrangement. Can you help please?

Our expert Gary answered... Hi Stephen, thanks for your question. To find the best arrangement for you and your business, we need to speak with you, to ensure we tailor the right package. The best finance option for you will depend on a number of things, such as what kind of condition the vehicle will be in at the end of the contract, what kind of mileage you will be covering, and what options you'd like at the end of the contract. Here are a few key points, which you may find helpful. Finance Lease gives you the benefits of taking advantage of equity built up in the vehicle. You also benefit from a low deposit, which can be as little as just one payment upfront. Monthly rentals are up to 100% tax deductible if you are VAT registered. contract hire is the perfect product for you if you want fixed cost motoring and are confident about the mileage and condition of your vehicle over a set period of time. It is an easy and cost effective way to fund vehicles, which would enable you to control one of your biggest business expenses. You get a new vehicle without the up-front costs, freeing up money for you to invest elsewhere in your business. Tax benefits include reclaiming 100% of the VAT on all your payments and maintenance charges (if you have that included). Rentals are also 100% allowable against corporation tax. One of our experts can go over all the options available and work out the best package to suit you, the business and ultimately your budget. Please call us up direct on 01442838193 and we will be more than happy to help you. Thanks.

Do you doHire Purchase?

Our expert Rob answered... Hi,Thanks for your question. Currently we don't offerHire Purchase but we can provide you with a very similar product called Contract Purchase. Contract Purchase is an agreement to purchase a vehicle via a series of monthly instalments. Ownership passes to you at the end of the contract following a final payment. At the end of the agreement you will have a guaranteed residual value, which enables lower monthly payments, this is set by the finance company at the start of the contract, a contract purchase will give you three options by the end: Part exchange and use any equity for the deposit on your next vehicle.Hand the vehicle back to the leasing company (subject to mileage and condition).Keep the vehicle by paying the optional final payment. Hope this helps.Kind regards,Rob Cox Stock Control Manager

I am looking for a LWB Sport dual cab. I am VAT registered and I paid too much tax last year. What's the best finance option? I`d like to own the vehicle at the end. Thanks

Our expert Mike answered... Hi Martyn, thank you very much for leaving your question on our website. If you would like to own the vehicle at the end of the contract period, there is an option called Contract Purchase. The contract purchase can be taken over anywhere from 2 years as a minimum up to a maximum term of 5 years. At the end of the contract there is an Optional Final Payment, which is calculated by the annual mileage you will be doing. With the Optional Final Payment you will have three options. The first option to settle the final payment and gain ownership of the vehicle, the second is to hand the vehicle back and walk away and the third option will be to part exchange the vehicle for something new. If you would like to discuss these options in further detail Martyn, please let us know what the best contact number for you is and also when would be a convenient time for one of our specialists to contact you. Many thanks once again for your question. Kind regards, Mike Daly.

Hi there, I have a current PCP with Jeep for my Jeep Cherokee. I am thinking of moving to a PCH at the end of the contract. Is it possible to part exchange with you, with the equity (market value at the end of the contract less the GMFV) as the part of the initial rent payment on the PCH?

Our expert Mike answered... Hello Sam, thanks for your question. Unfortunately, we cannot cover negative equity in a new lease deal, however, if you speak to one of our account managers on 01442 838193 we can look into the settlement and see if we part exchange your vehicle in and covering the finance. Kind regards, Mike Daly.

Hi, what is the most tax effective/cheapest form of finance for us....we are a small business and want to put a truck through the business, and are keen to make the acquisition as cost-effective as possible for the business and the individual who will be driving it. Many thanks Brett

Our expert Mike answered... Hi Brett, thanks for getting in touch. In regards to which option will be the most cost effective for you and your business will depend on what you would like to happen with the vehicle at the end of the contract. All of the leasing options available will have an equal taxable benefit so its simply a case of us being able to speak with you direct to run through a few details and then you can decide which option will be best for you. If you would like to discuss this in further detail, please feel free to contact any of our specialist direct on 01442 838193 so we can discuss the options in greater detail. Alternatively you can drop me an email with your contact details and I'll make sure one of my team give you a call. Kind regards, Mike

Hi, I currently drive a van which we own but we are considering changing it to a Ford ranger pick up due to me being in a more management position. I was wondering the best option as I would be doing up to 20000 miles a year and would need a lockable load area. Thanks in advance.

Our expert Mike answered... Hi Jake, thank you for getting in touch. There are various type of lease agreements which are available to you and will all have different options once you reach the end of the contract. The easiest way for us to be able to advise you on these options is if we can speak with you direct so we can discuss all options in greater detail. If you would like to discuss this in further detail, please feel free to contact one of our specialist direct on 01442 838193. Kind regards, Mike Daly.

Can you explain the difference between Finance lease/contract hire/Contract Purchase? Any help would be great, point us in the direction we should go. Thanks.

Our expert Mike answered... Hi Graham, thank you very much for leaving your question on our website. A Finance Lease can be taken over anywhere between 2 years and 5 years.  At the end of the term there is a "Final Payment" which is calculated by the annual mileage you do. At the end of the term you can either pay the final payment off, as a one off payment, or you can spread the cost over a further period of time. This will then keep the vehicle, if you wish to do so. Alternatively, you can sell the vehicle to a 3rd party, as long as the final payment is settled at the same time. With a contract hire this can also be taken over anywhere between 2 years and 5 years and at the end of the term the vehicle is simply returned back to the lease company. Therefore, no final payment at the end. Your monthly rentals are calculated by the annual mileage that you do and if you were to exceed that mileage you have stated then there would be an excess pence per mile charge at the end of the term. A Contract Purchase can also be taken anywhere between 2 and 5 Years and at the end of the term there is a "Final Payment". The options at the end do differ from a Finance Lease. You can hand the vehicle back and walk away. However, if you have gone over the stated mileage there will be an excess pence per mile charge. You can also settle off the final payment and take ownership of the vehicle or you can part exchange the vehicle for something new. If you would like to discuss these options in further detail Graham, please feel free to contact one of our specialists on 01442 838193 or alternatively please let us know what is the best contact number for you and we can make sure one of specialists contacts you at a convenient time. Thanks again Graham for making contact with us. Kind regards, Mike Daly

Hi there, I'm looking to lease a large van for two years without looking for ownership. It would be for couriering. I would be doing around 70.000 miles a year. I've got £1,300 for a deposit. Is this something you can help me with?

Our expert Rob answered... Hi David, thanks for your question. With the information you have supplied us it sounds like you might be looking at contract hire. This is ideal if you want fixed monthly rentals and confident about your annual mileage and condition of the vehicle over a set period of time. You will never own the vehicle and simply hand the vehicle back at the end of the lease. It is possible to include a maintenance package in the monthly rentals. The monthly rentals will depend on the value of the vehicle, length of the contract, and the agreed mileage. We would most certainly be able to help you find the right van and lease agreement that works for you and your business.  I will makes sure one of our experienced account managers will be in touch. Kind regards, Rob Cox.

I am two years into a five year lease of a Nissan NV200 van. If I have to return the van back to you, will there be any penalty payments due? My current mileage is 15,100 and my work is now based locally meaning my projected annual mileage will be around 3,000 which may make leasing the van an expensive luxury for a sole trader.

Our expert Mike answered... Hi Ian, thank you very much for leaving your question on our website. I can see that your Nissan NV200 is currently on a Finance Lease therefore you do not have the option to hand the vehicle back. However, you are able to sell the vehicle to a 3rd party. The first stage of this process Ian would be for us to request a settlement figure for you from the lease company to establish the outstanding amount that is left on your agreement. If you would like us to do so Ian, we are also able to take all the details of your Nissan NV200 and establish an evaluation for you. If you would like us to look into this in further detail then please let us know when a convenient time will be for your Account Manager to contact  you. Many thanks again for your question. Kind regards, Mike Daly.

I'm looking at contract hire or finance lease on a van, but would need to discuss the best option for me! I currently have finance on a commercial vehicle, how would I make the transition and is this possible?

Our expert Rob answered... Hi Luke, thank you very much for leaving your question on our website. We understand there are a lot of different options with leasing and you need to make sure it is the right option to suit you and your business. Our most popular finance options are currently Finance lease, contract hire or Contract Purchase. I have included a brief description to help with your decision making. A Finance Lease can be taken over anywhere between 2 years and 5 years.  At the end of the term there is a "Final Payment" which is calculated by the annual mileage you do. At the end of the term you can either pay the final payment off, as a one off payment, or you can spread the cost over a further period of time. This will then keep the vehicle, if you wish to do so. Alternatively, you can sell the vehicle to a 3rd party, as long as the final payment is settled at the same time. With a contract hire this can also be taken over anywhere between 2 years and 5 years and at the end of the term the vehicle is simply returned back to the lease company. Therefore, no final payment at the end. Your monthly rentals are calculated by the annual mileage that you do and if you were to exceed that mileage you have stated then there would be an excess pence per mile charge at the end of the term. A Contract Purchase can also be taken anywhere between 2 and 5 years and at the end of the term there is a "Final Payment". The options at the end do differ from a Finance Lease. You can hand the vehicle back and walk away. However, if you have gone over the stated mileage there will be an excess pence per mile charge. You can also settle off the final payment and take ownership of the vehicle or you can part exchange the vehicle for something new. Some options to consider when leasing is what Size Van you require, what mileage will be best for you and what condition the vehicle will be in at the end of the agreement. The great news is we will be able to take your current vehicle in Part Exchange and settle your current finance agreement for you. If you have any equity in the finance this will be paid back to you and could help towards the deposit of your new vehicle. Kind regards, Rob Cox.

Hi we are seriously looking at leasing our next van I understand there is a payment up front and monthly payments, what I don't understand is some places have a end payment which is quiteHigh what is that for if you've paid money up front and the monthly payments over the term why would you pay a balloon / residual payment at the end ? what happens when it comes to end of your contract term, can you apply for another new van ? who is responsible for maintenance / repairs what happens if it has to go in under warranty would an alternative van be supplied

Our expert Richard answered... Hello Alison, thank you for getting in touch, there are a number of contract available some as you mentioned have final rentals or payments. It all depends on what you are looking to do at the end of the term, to explain in full it would be best to speak to you so we can explain all of the agreement in detail and recommend which one is best for you. You can take a look at our van finance options, but if you could give us a call we could go into a little more detail, All of our vehicles are supplied direct from the main dealer so will come with a full manufacturer's warranty, however its up to you to service the vehicle, this can either be done yourself by using your local dealer or like a lot of our customers do you could decide to include the maintenance agreement which will include all of the servicing, Mot's, brakes, bulbs wipers etc. Kind regards, Richard.

Hi. I'm looking for a Citroen Berlingo or Peugeot Partner. I am a sole trader and VAT registered. The van has to have 3 seats as I have 2 boys. What is the best taxable way to finance? I have around £1k deposit but can also pay the VAT by credit card and reclaim in May. Open to offers. Van doesn't have to be new. John

Our expert Gary answered... Hi John. The best deal we have at the moment on that size of van with 3 seats is either the Citroen Berlingo or the New Transit Connect. The best way to fund the vehicle would be Finance Lease as it is great for cash flow and the taxable benefits of a lease. We can discuss the options in more detail with you if you'd like us to. Kind regards, Dominic Tutton, Senior Account Manager

I have a truck on lease with Vanarama, I'm just wondering if the halves and thirds agreement still stands on a lease agreement?

Our expert Richard answered... Hello, thanks for getting in touch. The rule you are referring to only applies with personal leases such as personal contract hire or personal contract purchase. Please contact us on 01442 838193 if we can help any further. Kind regards, Richard Wells.

Hi, I am looking to lease a Ford Custom. I have been running a courier business for the last 4 years. I am VAT registered. I want to know what the process is to lease a van please. Thanks.

Our expert Gary answered... Hi Sohna, thanks for your question. The new Custom is a great choice, especially if you are going to be spending a lot of time in the van as it has a lot of great driver conveniences to make your trip as easy as possible. As you are VAT registered you can claim 100% of the VAT back. Please check this with your accountant as there's always a chance you could be on a different VAT scheme and they are in the best position to advise. If you are looking to lease a vehicle it would be best to give us a call so we can load up a quotation for you or alternatively if you have seen a price on the site that would fit the bill all we would do is go through a very quick credit check to get the vehicle approved. Once this is done we would order the vehicle with the dealer. Depending on colour most models will be delivered to you within 2-3 weeks. Kind regards, Richard Wells, Senior Account Manager

I am employed but also have a side business of renovating properties. Which is the best option for me which will allow me to offset the cost of the van against tax? I do not earn enough to claim VAT back.

Our expert Rob answered... Hi, thanks for your question. To find the best arrangement for you and your business, we need to speak with you, to ensure we tailor the right package. The best finance option for you will depend on a number of things, such as what kind of condition the vehicle will be in at the end of the contract, what kind of mileage you will be covering, and what options you'd like at the end of the contract. Here are a few key points, which you may find helpful. Finance Lease gives you the benefits of taking advantage of equity built up in the vehicle. You also benefit from a low deposit, which can be as little as just one payment upfront. Monthly rentals are up to 100% tax deductible if you are VAT registered. contract hire is the perfect product for you if you want fixed cost motoring and are confident about the mileage and condition of your vehicle over a set period of time. It is an easy and cost effective way to fund vehicles, which would enable you to control one of your biggest business expenses. You get a new vehicle without the up-front costs, freeing up money for you to invest elsewhere in your business. Tax benefits include reclaiming 100% of the VAT on all your payments and maintenance charges (if you have that included). Rentals are also 100% allowable against corporation tax. One of our experts can go over all the options available and work out the best package to suit you, the business and ultimately your budget. Please call us up direct on 01442 838193 and we will be more than happy to help you. Kind Regards, Rob Cox.

Hi, I'm looking into the different options you offer on your vans. I'm sole trading plasterer looking for something with a low deposit and the possibility of a deal that can be tax deductible. Also i'm not V.A.T registered. Which deal would you recommend as best for me ? Also what is your policy on wear and tear as you may understand my trade isn't particularly the cleanest Thanks

Our expert Mike answered... Hi Ben, thanks for getting in touch. There are various types of leasing available which can be determined by what you would like to happen with the vehicle at the end of the lease. Whichever business lease you feel will meet your requirements will be up to 100% tax deductible. In regards to fair wear and tear policy, again this is subject to which type of contract you feel is best for you. If you would like to discuss this in further detail, please feel free to contact any of our specialist direct on 01442 838193 so we can discuss the options in greater detail. Alternatively you can drop me an email with your contact details and I'll make sure one of my team give you a call. Kind regards, Mike

Hi guys, I am looking at leasing my first ever van and am really confused. I am a self employed gardener so only small turn over, if I get a van through you guys over 5 years do I have thousands to pay back at the end of the term? Any help would be appreciated. Chris

Our expert Gary answered... Hi Chris. We will always take the time to find the best option for you and your business, so that your lease works for you and there aren't any surprises later on. If having a fixed price is important to you, you could consider contract hire. If you can estimate how many miles you will cover and expect to return the van in reasonable condition at the end of the contract, contract hire means you can enjoy fixed monthly payments with no large final payment. If you'd like more flexibility in terms of ownership, you could consider a Finance Lease. You'd have a number of options at the end of the contract, including keeping the van and refinancing the Optional Final Payment or selling or part exchanging the van privately and retaining the equity made after clearing the Optional Final Payment. Whatever you choose, we can go through the options in detail with you to make sure that any payment at the end of the contract is expected and manageable. Kind regards, James Pocock

I am about to become self-employed and would like to know what would be the best deal for me on finance? I would like to eventually own the vehicle and would like to claim as much back on my tax as I can.

Our expert Mike answered... Hi Matthew, thank you very much for leaving your question on our website. There are a number of leasing options available to you which will all have different benefits in different ways. If you are looking to gain ownership of the vehicle at the end of the term there is an option which is called Contract Purchase. This will require the full amount of the VAT up front as an initial deposit and will give you the option of ownership at the end buy the means of a final payment. There is also another option which is called Finance Lease however, this will not give you the option of ownership. At the end of the term there is again a final payment and at that point you will need to sell the vehicle to a 3rd party. With this particular type of agreement you will not need to put the full amount of the VAT upfront as an initial deposit and also the monthly rentals are tax deductible. If you would like to discuss these options in further detail Matthew, please let us know what is the best contact number for you and also when would be a convenient time for one of our specialists to contact you. Many thanks once again for your question. Kind regards, Mike Daly

Do you lease to businesses? Do you offer these vehicles to private buyers?

Our expert Richard answered... Hello Kevin, thank you for your question. We lease business and privately. We can offer two different leasing options for personal. Below, I have written a brief description of both the terms we offer: Personal contract hire (PCH) is a perfect product for an individual who wants fixed cost motoring and is confident about the mileage and condition of the vehicle over a set period of time. It is an easy and cost effective way to fund vehicles and it enables you to control one of your biggest expenses. PCH is available with or without a maintenance package, which offers fixed cost motoring with noHidden extras. Personal contract hire is similar to Business contract hire. However, as an individual, you will not be able to recover any VAT or take advantage of any tax allowances. Personal Contract Purchase (PCP) is fast becoming one of the most popular ways of financing the new vehicle of your choice, simply due to its flexibility. You choose the car, the deposit, how long you want the contract to run for and the mileage you intend to do. In return, you get fixed cost motoring for the term of the contract. At the end of the contract you have a choice to either buy the car outright for an agreed lump sum (the minimum guaranteed future value), part exchange the car and use the equity you have built up as the deposit on another new car, or hand the vehicle back to the lender and walk away without owing anybody anything (subject to the mileage and condition of the vehicle at this time). If you'd like to discuss this further please call us on 01442 838 195. Alternatively, please let us know the best contact number for you and I will arrange for one of our specialists to call you. Kind regards, Richard Wells.

Hi Andy. I'm currently a self employed plumber and looking for a new van. I quite like the look of the new transit connect but am struggling with how to go about it and the best way for me and was wondering if you could help me decide on what way to go. Thanks.

Our expert Gary answered... Hi Scott. Without knowing more about your specific requirements, it's hard to say which would be the best choice for you, but there are certainly plenty of options. contract hire could be the way to go if you're looking for a fixed price solution and you don't want the hassle of deciding what to do with the van at the end of the contract, as it would be handed back to the Finance Company. If you don't want any strict mileage limitations and you're looking to build up equity in the van over your contract, it would be worth considering a Finance Lease or Lease Purchase. I know it can be intimidating to weigh up all the options, so please feel free to give the Vanarama team a call – they're experienced at providing impartial advice and helping you figure out what's best for you. All the best, Andy.

I'm mulling over the idea of getting a van to use for transporting my fishing equipment around to matches I attend. I'm currently using my car which is not practical and its becoming dirty. Which is the best way to go about this? I'm not using it for work so does this affect leasing regulations or would buying be better? Confused!

Our expert Rob answered... Hi Mark, thanks for your question. Leasing is becoming more and more popular and the good news is you can still lease a van if you're not using it for work purposes. The best option available would be Personal contract hire (PCH). This is a perfect product for an individual who wants fixed cost motoring and is confident about the mileage and condition of the vehicle over a set period of time. It is an easy and cost effective way to fund vehicles and it enables you to control one of your biggest expenses. PCH is available with or without a maintenance package, which offers fixed cost motoring with noHidden extras. Personal contract hire is similar to Business contract hire. However, as an individual you will not be able to recover any VAT or take advantage of any tax allowances. PCH would suit you if you want a more expensive vehicle than your budget would normally allow i.e. A new vehicle instead of a used one; want to avoid the risk of depreciation and maintenance costs; want fixed cost, stress free motoring; not worried about owning a vehicle and are happy to change their vehicle regularly.

I have recently signed a new contract at work and I am looking into PCH... however I do not have good credit. I am looking atHiring for my partner too. Do you do discounts for multi-car PCH?

Our expert Mike answered... Hi Dan, thanks for getting in touch. With the terms we currently have in place with the manufacturer's and also the funders, we will offer you the best deal available and as a part of what we do, we pride ourselves on not being beaten on price. If you are looking at two vehicles then again we will ensure you are quoted the best price available. If you would like to discuss this in further detail, please feel free to contact any of our specialist direct on 01442 838193 so we can discuss the options in greater detail. Alternatively you can drop me an email ([email protected]) with your contact details and I'll make sure one of my team give you a call. Kind regards, Mike Daly.You might like to read our article: Van Leasing with Bad Credit

I fancy a Transit Custom for my own personal usage from day to day to replace my Land Rover Defender, i.e. putting pedal bikes in the back for days out and adventures around the UK. Is this possible? I do have a business but I have never bought a vehicle through it. What happens at the end of the 5 year lease, can you buy the vehicle?

Our expert Richard answered... Hello James, thank you for getting in touch. its completely up to you how you fund the van, however if the vehicle is used for your business you could take advantage of the tax and vat benefits. We offer a number of different lease options, if you would like to own the vehicle it would have to be a contract purchase agreement where you have an optional purchase fee at the end of the agreement. The contract hire and finance lease do not give you the option to own the van at the end of the contract. Please give us a call and we can explain all of the contracts in more detail. Kind regards, Richard Wells.

I am a self-employed steel fabricator. I need a drop side style Transit three and a half metre bed on back. What is the best finance for me? Thanks Ross

Our expert Rob answered... Hi Ross, thanks for your question. We would always take time to find the best option for you and your business so the vehicle and lease works best for you. contract hire is ideal if you can estimate how many miles you will cover and expect to return the van in reasonable condition at the end of the contract. It means you can enjoy fixed monthly payments with no final rental/payment at the end. At the end of the agreement you will hand the vehicle back to the lease company. If you'd like more flexibility at the end of the lease, you could consider a Finance Lease which gives you fixed monthly rentals, no strict mileage or damage penalties although it's worth noting that excess mileage and damage to the vehicle will affect its value at the end of your contract. You can also retain the majority of the equity built up in the vehicle over the contract and you have the ability to settle the agreement early. Also other questions to consider would be how long would you want to keep the vehicle for? What budget do you have? What mileage would you cover each year? What do you want to happen at the end of the contract?  Finally, what initial payment would you be comfortable with? Whatever you choose, we can go through all the options in detail with you to make sure it works for you. If you'd like to discuss this further please call us on 01442 838 195. Kind regards, Rob Cox

Hi, are you able to explain the tax benefits of leaseHire or lease purchase, rather than purchasing a new vehicle outright ? We are a VAT registered limited company and are therefore subject to corporation tax. I understand that certain lease payments may be offset against our tax bill? Many thanks.

Our expert Mike answered... Hi Jamie, thanks very much for leaving your question on our website. There are a number of options available to you depending on what you would like to achieve at the end of the term. There is Finance Lease which gives you the benefits of taking advantage of equity built up in the vehicle. You also benefit from a low deposit, which can be as little as just one payment upfront. Monthly rentals are up to 100% tax deductible if you are VAT registered. contract hire is the perfect product for you if you want fixed cost motoring and are confident about the mileage and condition of your vehicle over a set period of time. It is an easy and cost effective way to fund vehicles, which would enable you to control one of your biggest business expenses. You get a new vehicle without the up-front costs, freeing up money for you to invest elsewhere in your business. Tax benefits include reclaiming 100% of the VAT on all your payments and maintenance charges (if you have that included). Rentals are also 100% allowable against corporation tax. To find the best arrangement for you and your business, we need to speak with you, to ensure we tailor the right package. If you would like to discuss these options in greater detail please let us know what the best contact number for you is and also when would be a convenient time for one of our specialists to contact you direct. Thanks again for making contact with us.

I am looking for a Citroen relay L4 H2 van. I have always bought second hand van but have had a few problems over the years. I am now looking at the option of maybe leasing, but am confused at the different options available . I am not VAT registered and work on my own please can you give any advice . I am a carpet fitter so need the van for carrying carpets. Thank you regards, Tony

Our expert Gary answered... Hi Tony, thanks for your question. We would be more than happy to give you advice. We have a range of van leasing options to suit you and your business needs, including contract hire, Finance Lease and Contract Purchase. There are many advantages to Van Leasing for your business. To name a few, these are improved cash flow, fixed and competitive monthly rentals, low deposit & tax relief. Lease payments are calculated on mileage, so we recommend that you should be as realistic as possible on what mileage you will do, they are also calculated on the vehicle itself and the term you want the vehicle over. Something to consider, is what you would like to happen at the end of the contract? For instance, would you want to return the vehicle, sell the vehicle and benefit from any equity, or keep it? With contract hire when you return the vehicle the funders will charge for damage that is over and above what is acceptable under the BVRLA's Fair Wear and Tear Guide, so it would be wise to think what condition the vehicle will be in at the end of the contract. Finance Lease is a very popular product amongst our customers as it gives you the best of both worlds. Finance Lease gives you the benefits of ownership as you can take advantage of equity built up in the vehicle, and you also benefit from a low deposit which can be as little as just one payment upfront. VAT is only charged on the deposit and monthly rentals, as you are not VAT Registered you will not be able to reclaim the VAT on the payments. Our leasing periods can be from 2 years to 5 years, and typically most of our customers find that their initial payment is equivalent to 3 rentals in advance but, depending on circumstances, it could be as low as 1 rental in advance. Some of our more popular larger vans are the Ford Transit, Citroen Relay or Peugeot Boxer, all of which have side loading doors. There is very little difference between small, medium or large vans in monthly payments, so try to go for as big as you can, as you wouldn't want to turn any work down because your van is not big enough. I will arrange one of our experienced account managers to contact you and discuss your options further.

Hi Andy, can you please tell me the main differences between Finance Lease and contract hire? Cheers Ian

Our expert Gary answered... Hi Ian The main difference is that with Finance Lease you are responsible for disposal of the vehicle and the risk and rewards that go with it (any profit or loss). With contract hire this lies with the Finance Company, they dispose of the vehicle and take any loss or profit. However, as it's their vehicle they will charge you 'damage recharge' if applicable. By this I mean they will charge you for any damage to the vehicle. We abide by the BVRLA's (British Vehicle Rental and Leasing Association) Fair Wear and Tear Guide. This sets out what is acceptable and what is not. This, I believe, is very fair, however, be aware that some funders do not adhere to this and can impose punitive charges at the end of the contract. If these charges are imposed, you would really struggle to argue against them since there is no legislation to support your argument. With Finance Lease, you are responsible for disposal. Some people prefer this as they believe there is no damage recharge. However, look at it this way. Imagine you have a balloon payment of £7,000 (this is an amount of money offset to the end of the agreement for which the vehicle is expected to sell). If it's in good condition, it may well sell for £7,000. However, if it's damaged it may only fetch say £5,000 in which case you will have to pay the difference (in my view damage recharge by another name). Finally, one accounting difference: Finance Lease is accounted for on your balance sheet, whilst typically contract hire is accounted for off balance sheet. However, this is due to change in the next few years, when both will be on balance sheet. Andy

I'm a self employed painter just starting out again. I'm thinking of leasing a medium sized van i.e. Ford Transit Custom, Trafic style. It would need to be lined inside and have a roof rack. I will probably get it sign written also. But to keep my costs down I would need it to have full road tax and maintenance/service package included. I don't mind not owning it after the term. What would you recommend?

Our expert Mike answered... Hi Graeme, thanks for getting in touch. The best type of contract to meet your requirements would be what's called contract hire. This is a type of contract that can be taken over a minimum term of 2 years up to a maximum of 5 years and at the end of the term the vehicle is simply returned back to lease company. The monthly rental is calculated by a number of things, the annual mileage you will be covering, the length of the contract and the initial rental you put up from at the beginning. At the end of the contract the vehicle will be inspected for any damage which could potentially result in damage charges and also if the annual mileage has been exceeded there will be an excess pence per mile charge. If you would like to discuss this in further detail, or look at any alternative options for you, please feel free to contact one of our specialists direct on 01442 838195. Kind regards, Mike Daly.You might like to read our article: Top 5 Tips To sign writing A Leased Van.

Hi, I am a self employed joiner. I need a small van for my own use. What is the best finance option for me?

Our expert Richard answered... Hi, thanks for your question. To enable us to find the best finance option for you and your business, we need to speak with you, and find out what would suit you and your business best. Finding the correct finance option for you will depend on a number of things, such as what kind of condition the vehicle will be in at the end of the contract, what kind of mileage you will be covering, and what options you'd like at the end of the contract. Please call us up on 01442 838193 and we will be more than happy to help you. Thanks. Kind regards, Richard Wells.

Can you help me? I am looking for a van for my building company. I have not leased before and not sure which one would suit me? I am vat registered. Ideally I would need to get boards 2, 4 metres long, although I am quite prepared to have a roof rack. I also need a side exit. I do not do a lot of mileage, around 8/10 thousand per year. I would prefer six forward gears and also some heavy materials that I do not want something that is underpowered. My budget is about £170/180 per month excluding vat, any ideas?

Our expert Gary answered... Hi Les, thanks for your question. We would be more than happy to give you advice on a van for your building company. Some of our more popular larger vans are the Ford Transit, Citroen Relay or Peugeot Boxer, all of which have side loading doors. Alternatively, you could opt for a smaller van and we would be more than happy to fit roof bars or a full roof rack, and include the cost into the monthly rentals. There is very little difference between small, medium or large vans in monthly payments, so try to go for as big as you can, as you wouldn't want to turn any work down because your van is not big enough. Lease payments are calculated on mileage, so we recommend that you should be as realistic as possible on what mileage you will do. As you're VAT registered a contract hire would have some tax benefits for you.  You could reclaim up to 100% of the VAT on all maintenance charges, the lease rental the fees, and finance element for commercial vehicles. Something to consider, is what you would like to happen at the end of the contract? For instance, would you want to return the vehicle, sell the vehicle and benefit from any equity, or keep it? With contract hire when you return the vehicle the funders will charge for damage that is over and above what is acceptable under the BVRLA's Fair Wear and Tear Guide, so it would be wise to think what condition the vehicle will be in at the end of the contract. Our leasing periods can be from 2 years to 5 years, and typically most of our customers find that their initial payment is equivalent to 3 rentals in advance but, depending on circumstances, it could be as low as 1 rental in advance.  I will arrange one of our experienced account managers to contact you and discuss your options further.

Hi, I'm about to become self employed and looking to lease a van for a two year deal for courier work. Is this something that you could help me with? I'm looking to lease a large van and I probably have around £1,300 for a deposit.

Our expert Richard answered... Hi David, thank you very much for leaving your question on our website. There are a number of leasing options available to you which will all have different benefits in different ways. If you are looking to gain ownership of the vehicle at the end of the term there is an option which is called Contract Purchase. This will require the full amount of the VAT up front as an initial deposit and will give you the option of ownership at the end buy the means of a final payment. There is also another option which is called Finance Lease however, this will not give you the option of ownership. At the end of the term there is again a final payment and at that point you will need to sell the vehicle to a 3rd party. With this particular type of agreement you will not need to put the full amount of the VAT upfront as an initial deposit and also the monthly rentals are tax deductible. If you would like to discuss these options in further detail David, please let us know what is the best contact number for you and also when would be a convenient time for one of our specialists to contact you. Many thanks once again for your question. Kind regards, Richard Wells.

I'm not 100% sure if I want a 3 or 5 year contract yet? If I were to take a 5 year Finance Lease or contract hire on a Nissan Navara, would I be able to exchange or sell it for a new vehicle at 3 years? If so would there be any penalties or anything else that would happen and what? Thanks for your time.

Our expert Gary answered... Hi,  thank you very much for leaving your question on our website. Yes you would absolutely be able to part exchange your vehicle after 3 years however, you would only be able to do this with a Finance Lease contract. The way this would work is that you would need to contact us at the time you wish to change your vehicle, we will request a settlement figure on your behalf from the lease company and at the same time we will take all the details for your vehicle with the view of establishing a part exchange value. In regards to a contract hire, you are able to terminate early however, there will be a penalty for doing so. The penalty you will be charged is 50% of the remaining rentals that are left on the agreement. If you would like to discuss these option in further detail, please let us know what will be a convenient time and also the best contact number for you and one of our specialists can contact you. Alternatively, if it is easier for you please feel free to call us on 01442 838193. Many thanks once again for your question.

Is it for business users only?

Our expert Richard answered... Hi Thomas, thank you for your question. We can offer 2 different leasing options for personal. I have below written a brief description of both the terms we offer:Personal contract hire (PCH) is a perfect product for an individual who wants fixed cost motoring and is confident about the mileage and condition of the vehicle over a set period of time. It is an easy and cost effective way to fund vehicles and it enables you to control one of your biggest expenses. PCH is available with or without a maintenance package, which offers fixed cost motoring with noHidden extras. Personal contract hire is similar to Business contract hire. However, as an individual you will not be able to recover any VAT or take advantage of any tax allowances. Personal Contract Purchase (PCP) is fast becoming one of the most popular ways of financing the new car of your choice, simply due to its flexibility. You choose the car, the deposit, how long you want the contract to run for, and the mileage you intend to do. In return you get fixed cost motoring for the term of the contract. At the end of the contract you have a choice to either buy the car outright for an agreed lump sum (the minimum guaranteed future value), part exchange the car and use the equity you have built up as the deposit on another new car, or hand the vehicle back to the lender and walk away without owing anybody anything (subject to the mileage and condition of the vehicle at this time). If you'd like to discuss this further please call on 01442 838 195. Alternatively, please let us know the best contact number for you and I will arrange for one of our specialists to call you. Kind regards, Richard Wells.

I have recently become self employed. What option is best for me?

Our expert Richard answered... Hi Paul, thanks for your question. To find the best arrangement for you and your business, we need to speak with you, to ensure we tailor the right package. The best finance option for you will depend on a number of things, such as what kind of condition the vehicle will be in at the end of the contract, what kind of mileage you will be covering, and what options you'd like at the end of the contract. Here are a few key points, which you may find helpful. Finance Lease gives you the benefits of taking advantage of equity built up in the vehicle. You also benefit from a low deposit, which can be as little as just one payment upfront. contract hire is the perfect product for you if you want fixed cost motoring and are confident about the mileage and condition of your vehicle over a set period of time. It is an easy and cost effective way to fund vehicles, which would enable you to control one of your biggest business expenses. You get a new vehicle without the up-front costs, freeing up money for you to invest elsewhere in your business. Tax benefits include reclaiming 100% of the VAT on all your payments and maintenance charges (if you have that included). Rentals are also 100% allowable against corporation tax. One of our experts can go over all the options available and work out the best package to suit you, the business and ultimately your budget. Please call us up direct on 01442 838193 and we will be more than happy to help you. Thanks. Kind regards, Richard Wells.

Hi, I haven't as yet decided which van I am going for but I am currently confused as to which finance option to go for: FL, CH, CP, H, L, P. I am unsure what my mileage would be And I'm a little worried about the condition of vehicle at the end of contract (due to tools carried it gets a bit messy). I'm not overly fussed about owning the vehicle and I would like a 'hassle free' option i.e. with maintenance. I hope this is enough info to go on, but could you provide the finance details on the options say for a Ford Custom? Thank you.

Our expert Rob answered... Hi Andy, thanks for your question. We understand there are a lot of different options with leasing and you need to make sure it is the right option to suit you and your business. Our most popular finance options are currently contract hire, Finance Lease or Contract Purchase. I have included a brief description to help with your decision making. contract hire can be taken over anywhere between 2 years and 5 years and at the end of the term the vehicle is simply returned back to the lease company. Therefore, no final payment at the end. Your monthly rentals are calculated by the annual mileage that you do and if you were to exceed that mileage you have stated then there would be an excess pence per mile charge at the end of the term. You must look after the vehicle and return in a well maintained condition, if not you will be charged for any damage over and above as stated in the 'Fair Wear and Tear Guide'. Finance Lease again can be taken over anywhere between 2 years and 5 years.  At the end of the term there is a "Final Payment (balloon)" which is calculated by the annual mileage and the term of the agreement. The benefits of finance lease are the Potential to carry on using the vehicle at the end of the primary lease period, no strict mileage or damage penalties (please note that excess mileage and damage to the vehicle will affect its value at the end of your contract, Available option to refinance the balloon payment over a longer period of time, You retain the majority of the equity built up in the vehicle over the contract, Ability to settle the agreement early, Alternatively, you can sell the vehicle to a 3rd party, as long as the final payment is settled at the same time. Contract Purchase can be taken over the same terms as contract hire & Finance lease and at the end of the term there is a "Final Payment". The options at the end do differ from a Finance Lease. You can hand the vehicle back and walk away. However, if you have gone over the stated mileage there will be an excess pence per mile charge. You can also settle off the final payment and take ownership of the vehicle or you can part exchange the vehicle for something new. All these options you will have the facility to include Hassle free servicing and maintenance, taking away all the hassle of running a vehicle.  If you would like to discuss these options in further detail, please feel free to contact one of our specialists on 01442 838193 or alternatively please let us know what is the best contact number for you and we can make sure one of specialists contact you at a convenient time. Kind regards, Rob Cox.

If I had a vehicle on finance Lease or Contract Purchase (both deals with a final payment amount quoted) and the vehicle was written off totally after 3yrs of a 4yr agreement what happens then?

Our expert Mike answered... Hi Jim, thank very much for leaving your question on our website. If your vehicle was to be written off after 3 years in to a 4 year agreement then, as I'm sure you are aware, there will still be an outstanding amount left on your agreement. Your insurance company in this situation would pay you the current market value for your vehicle and if there was any shortfall between what they would pay you and what the outstanding amount is, then you would be responsible for settling the difference. However, there is an insurance product call Guaranteed Asset Protection which is a product that will cover you for the full duration of your contract and will cover any shortfall if you were in that situation. If you require any further information Jim please let us know the best contact number for you and a convenient time for one of our specialists to contact you direct. Many thanks once again for your question. Kind regards, Mike Daly.

Can you please explain a little more about the end of term finance lease in which I would have to sell the van to a third party. How would I get around this if I wanted to keep it ?

Our expert Richard answered... Hello, thank you for getting in touch. At the end of the finance lease agreement you will act as a sales agent on behalf of the finance company, as you mentioned this means you would have to sell the vehicle at the end of the term and then pay the finance company the final rental. We would happily part exchange the vehicle in for you if you wish, or you could sell the vehicle privately. At the end of a finance lease agreement you are not allowed to take ownership. Due to the benefits you get from leasing the vehicle you are not then allowed to then own the vehicle. If you are looking to take ownership at the end of the term I would recommend you look into a contract purchase agreement which gives you an option to own the vehicle at the end of the agreement. If you have any other questions please get in touch. Kind regards, Richard Wells.

What is the difference between leasing and contract hire? I am looking for a van for non-business use.

Our expert Mike answered... Hi Derek, thank you very much for leaving your question on our website. With a finance lease option you can have this type of contract anywhere from 2 years as a minimum up to 5 years as a maximum. At the end of the term you have what's called a final payment, which is calculated by the annual mileage you are doing. At the end of the term you will need to either sell the vehicle to a 3rd party, where the final payment will need to be settled through the sales proceeds, or alternatively you can spread the cost of the final payment over a further period of time and stay in the vehicle. With a contract hire you can take this type of contract anywhere from 2 years as a minimum up to 5 years as a maximum and your monthly rental will be calculated by the annual mileage you are covering. At the end of the term the vehicle will then be simply handed back to the lease company. If you were to exceed the annual mileage stated, there would also be an excess pence per mile charge. If you are looking at  a lease as a non-business user we can offer you a Personal contract hire, which is the same as a contract hire, but done personally. So we can discuss your options in greater detail Derek, please let us know what would be the best contact number for you and also when would be a convenient time for one of our specialists to call you direct. Many thanks once again for your question. Kind regards, Mike Daly.

Hi, I am starting my own business and will be looking to contract hire. Am I correct in thinking that I am unable to without so many years of positive 'books', or is proof of current earnings on my current job enough as I will be running my own business alongside working full time.

Our expert Gary answered... Hi Adam and thanks for your question. If you are starting a new business it would depend on what trading entity you will begin trading as. If you will be starting as a sole trader, the finance company will simply look at your personal creditHistory. Depending on the outcome of the searches they might ask for bank statements, and balance sheets including profit and loss for the business to help support the credit application. However, if you have started a new limited company, you will need to supply at least three months of business bank statements for the finance company. This is mainly to confirm the business is trading. As you would expect, there is very little tradingHistory with new limited companies. Some, but not all of our funders, might ask you to be a guarantee on the finance if you are a new limited company.

As I don't have my own business, just self employed, which contract would be better for me, contract hire, leaseHire etc? I'm interested in the Peugeot Bipper, a small economical van just to carry hand tools. I just need to know which options would be best for me, as I am looking to change van every 2 years. Many thanks, T Forbes

Our expert Gary answered... Thank you for the question Mr Forbes. Both contract hire and Finance Lease are available to those who are self-employed. To help us establish which product would be best for you we would need to get some additional information: your annual mileage, how much deposit you want to pay, what you want to do at the end of the agreement, your monthly budget, whether you are VAT Registered, and how long you have been self-employed. Both Finance Lease and contract hire can be offered over a 2 year period and both agreements would allow you to change your vehicle every two years. I hope this information helps. Kind regards, James Pocock, Senior Account Manager

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