Car Finance Lease

If you’re looking for a way to finance the purchase of a vehicle, a car finance lease from Windmill Leasing could be the preferred option for you.

Car finance leasing works like contract hire, but at the end of a finance lease you become the owner of the vehicle.

This is achieved through two different methods:

1. Through a fully amortised finance lease agreement, the entire cost of the vehicle is accounted for over the contract period (plus interest on funding). This is achieved by making equal monthly payments for the duration of the contract.

2. With a final (balloon) payment finance lease, you make regular monthly payments, plus the final payment the cost of which is settled at the start of the agreement.

With a car finance lease there’s usually no option for a maintenance agreement, although you can purchase this as a separate agreement. You do benefit from tax and VAT advantages (50% of VAT is reclaimable on the finance element of the lease).

More about car finance leasing

Five facts associated with car finance leasing are:

1. In car finance leasing, you work to a monthly payment plan, as agreed with your dedicated account manager from Windmill Leasing.

2. The monthly lease payments are dependent upon the purchase price, the amount of deposit you put down, the term of rental, and the amount of your final payment. Factors such as mileage will affect the final payment amount.

3. If you choose the option with a final amount for the vehicle at the end of the lease, it’s worth noting that if you choose to ‘sell’ the car to cover this final payment the value of the vehicle may not fully cover this amount (as the market value is not guaranteed). However, on the flip side, any profit from the sale of the vehicle is yours to keep.

4. Because the car is your responsibility to dispose of at the end of the leasing agreement, there are no excess mileage charges.

5. With car finance lease, there is usually a 10% deposit required at the start of the agreement and there may be a small admin charge payable at the end of the agreement.

We recommend you seek advice from your accountant on tax, VAT and other financial considerations associated with car finance leasing.

Why choose Windmill Leasing for car finance leasing?

At Windmill Leasing, we specialise in providing car finance leasing deals for businesses across the UK. With a team of dedicated account managers, you have one point of contact throughout the entire duration of the finance lease agreement for your business car lease. We also have access to a wide range of finance providers so we can get the very best rates for you.

Ready to start finance leasing your next vehicle?

Let us match you with the right vehicle(s) and right deal for you. Search this website where all of the prices are right up to date and then submit your enquiry. If you’re short on time, try our Quick Quote tool.

Otherwise, please call 01527 571610 to speak to one of our dedicated account managers or request a call back and we’ll get back to you.

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