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Reduce your motoring costs today

When we ask our customers about the biggest business challenges they are facing right now, the overwhelming response has been, "Reducing Costs" and "Saving Money". Running business vehicles, whether cars or LCVs is a significant cost centre for any business, regardless of size.

That’s why it’s important to carry out your health check to ensure your business is taking full advantage of the cost savings available, whether that’s through tax and VAT costs, reduced fuel costs, environmental costs and accident costs or by minimising the effects of manufacturer vehicle price increases.

At Fleet Financial we instinctively look for ways to help our existing and new customers to save money in these areas.

We would like to help your business by carrying out a health check of your current vehicle policy.

Three key health reasons to contract hire:

  1. Acceleration of Tax Relief - Customers can claim tax relief for the lease rentals over the term of the lease and therefore obtain tax relief for the cost of "usership" over the term of the lease. 100% tax relief is now available for the rental paid on all cars with C02 emissions of 160g/km or less. For those cars with C02 emissions greater than 160g/km, tax relief is still available for 85% of the lease rental (exclusive of maintenance). For purchased cars tax relief is given via capital allowances and it will generally take in excess of 20 years to receive tax relief for the commercial depreciation suffered on the car.
  2. VAT efficient - VAT remains recoverable on lease rentals (100% for full business use, 50% part business use, 100% maintenance). However, no VAT is recoverable under outright purchase unless the car has no private mileage.
  3. Residual Value Risk - The residual value risk in the car is underwritten by Fleet Financial unlike hire purchase/ outright purchase where the risk rests with the end user/customer.

If your business vehicles don’t tick all the boxes then contact Fleet Financial today to carry out your vehicle health check and find out more about how Fleet Financial can save you time and money. Simply call the Sales Team on 028 9084 9777 email sales@businessvehicles.net.