- Business Car Leasing
- Commercial Vehicle Leasing
- Company Car Allowance
- Ex Lease Cars For Sale
- Fleet Management
- Gap Insurance
- Finance Lease
- Sale & Leaseback
5 Reasons to choose Windmill
- One Number One Call for all your fleet requirements
- Access to our extensive range of stock vehicles
- National Company with a local feel
- Free delivery to any UK mainland address
- On-Line Quotation system to totally configure your vehicle
- Fixed monthly payments to allow for greater budget forecasting
- No Excess Mileage applies, as you retain the risk and benefits on the re-sale value
- Tailored contracts – Select the contract length and mileage that works for your business
- VAT can be reclaimed at pre-agreed rates depending on the usage of the vehicle
What is Finance Lease?
Finance lease is a method of funding that allows a company some of the benefits of ownership of a vehicle, but with fixed costs. As finance lease is an on-balance sheet funding method, where you have full use of the vehicle for the duration of its pre-agreed contract term. The vehicle is purchased for you and its future re-sale value is estimated based on the total mileage the vehicle is expected to cover. The difference between these two figures will form the basis of your monthly payments. You will be required to pay an estimated re-sale value often called a ‘balloon’ payment. At the end of the contract the vehicle is sold on your behalf and the balloon payment is then settled with the proceeds from the vehicle sale. The actual mileage of the vehicle upon its sale can have a positive or negative effect on the ‘balloon’ depending on the original contract mileage of the vehicle.
We can also offer a separate maintenance contract to offer you complete control of your monthly costs.
The Benefits of Finance Lease
By choosing Finance Lease as our funding method, you will have complete peace of mind that your monthly payments are fixed for the length of the contract. In addition, your monthly payments will be lower than other finance agreements as you are not funding the full depreciation cost of the vehicle. In addition to this, VAT is also reclaimable based on the usage of the vehicle. If it is used for business only then you can reclaim 100% of the VAT, where as 50% of the VAT can be reclaimed if the vehicle is made available for business and private use.