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What are the different types of funding methods?

For a full explaination of all available funding methods and options please select one of the links on the right hand side menu of the website.

These links will take you to a short explaination of the funding option. We would however suggest that you discuss the finance options with your accountant or business advisor prior to making any decisions on the desired funding method.

I am not VAT registered so can I have a lease or a contract hire arrangement?

Yes you can. If you are VAT registered (Standard VAT) then you simply claim the VAT back as you are going along. if you are not VAT registered, you are able to not only offset the monthly rental and the VAT element you are paying too against your taxable profits - So good news for all.

However, If the agreement is a personal contract hire, you are unable to reclaim the VAT back against your business. Should you have any questions regarding this we would suggest that you speak with your accountant of business advisor.

We are able to offer contract hire agreements on new vehicles only at this time.

Are there restrictions for the amount of mileage I cover in my lease or contract hire vehicle?

All Lease and Contract Hire agreements can be tailored to your specific requirements or business needs. The same can be said about Personal Contract Hire. The mileage will be discussed as part of the enquiry and quotation process, This would be to ensure that this is set to forfill your requirments.

Why does the monthly rentals increase when my mileage per annum increases? 

The monthly cost of a Lease or Business or Personal Contract Hire vehicle is based on a calculation, taking into account:

  • The cost of the vehicle

  • The amount of Initial Rental paid in advance

  • The term of the contract (Ranging from  2 Years up to 5 Years)

  • The anticipated future value of the vehicle at the end of the agreement (Residual Value)

The higher the mileage that the vehicle covers during the contract has a detrimental effect on the value left in the vehicle at the end of the contract (Residual Value).

The subsequent monthly rental payments are then increased to cover the shortfall.

So in summary:

  • The higher the inital rental payment -  The cheaper the monthly rental payments.

  • The lower the annual mileage – The cheaper the monthly rental payments.

How many years can you lease/contract hire a vehicle?

You can lease or contract hire term any cars and commercial vehicles anything from 2 to 5 years.

There are occassions where shorter term agreements are available.

Can you Lease a Used Van or Car?

Yes, We can offer finance lease agreements on used vans and car. The term of the lease would be dependant on the age and mileage of the vehicle in question. Each vehicle would be specifically quoted based on the term of the agreement, mileage per annum and amount of initial rental required. Unlike New Vehicles, A finance lease on a used vehicle will not include road tax for the first 12 months. The customer would need to tax the used vehicle themselves.

What deposit/advanced rental will I pay?

There are several deposit or initial rental options available for you to choose from for a Lease or Business or Personal Contract Hire agreement:

3 monthly rental payments in advance:

  • From 3 monthly rental payments in advance up to 50% of the vehicles value.

  • The higher amount paid in advance will reduce the amount financed therfore reducing your monthly rental payments.

  • Contract terms are from 2 to 5 years.

One monthly rental payment in advance:

  • Some finance providers offer the option of a single monthly rental payment in advance. The rental payment would be equil to the proceeding monthly rentals for the duration of the contract. 

  • Contract terms are from 2 to 5 years.

Enhanced or Larger Initial Payments:

  • Some of our panel of funders offer the ability to accept a specific or tailored initial rental payment. This would allow you to tailor the agreement to suit your requirments. This can be extremly flexible to cater for part exchange vehicles and higher deposits/initial rental requirments.

Hire Purchase/Lease Purchase/Hire Purchase with Balloon Deposits: 

Hire Purchase/Lease Purchase/Hire Purchase with Balloon and all other types of ownership/purchase agreements require the VAT eliment of the vehicles cost to be paid in advance by the customer as a minimum deposit.

Some finance providers may request an additional 10 or 20% of the vehicle cost in addition to the full VAT deposit for the vehicle.                               

I do not have a business; it is possible to contract hire privately?

Yes, We would suggest that you call us on 01656 654 321 We will be more thank happy to provide you with the information, and also explain all of the options available to you to allow you to make an informed decison.

Can I own or buy the vehicle at the end of my contract?

In some cases it is possible to buy or own the vehicle at the end of certain agreements. 

(Hire Purchase / Lease Purchase / Hire Purchase with Balloon).

We would suggest that you call us on 01656 654 321 We will be more than happy to discuss all of the available options with you.

Would the vehicles servicing be included? 

Adding a maintenance option to a Contract Hire/Personal Contract Hire agreement is simple and can be very cost effective; the additional monthly cost of the maintenance can be simply added to the monthly rental payment for your vehicle within the contract.

At present we are unable to offer Maintenance on Contract Hire or Personal Contract Hire on used vehicles.

Would you recommend a maintenance package? And what would it cover?

We would recommend a fully comprehensive vehicle maintenance package to our customers. 

These packages can include all vehicle servicing MOT's and Tyres.

Reasons that we would recommend these packages:

  • Fixed Cost Budgeting

  • Covers all Manufacturer Servicing for the duration of the contract

  • Covers all Mechanical and Electrical repair (From ‘Bulb’s’ to ‘Big End’s’)

  • *Tyre Replacement* 

*Some finance providers offer tyres at an additional cost to the maintenance rental where others include the tyres.                                    

Is there any additional delivery charge or cost?

No, New Vehicle Solutions offer *Free Mainland UK Delivery on all New Car and Commercial Vehicles. Your New Vehicle can be delivered to an address of your choice. In most cases each vehicle will be supplied by driven delivery direct from the manufacturer/main dealer using professional delivery agents.

In the case of Used Vehicles, We would request that all vehicles are viewed and collected from our showroom in Bridgend. This would give you the oppertunity to check the vehicle prior to the completion of the sale/lease. Deliveries can be offered on Used Vehicles at an additional charge.

Will my new vehicle have road tax included?

All New Cars And Commercial vehicles that we supply will be delivered with Road Tax & First Registration Fee *included.

Will my used vehicle have road tax included?

All Used Cars and Commercial vehicles that we supply will require to be taxed by the customer to ensure the vehicle is road legal for when it will be collected. We do not include road tax in the sale of any used car or commercial vehicle.

Outright Purchase*/Hire Purchase Vehicles/Lease Purchase/Hire Purchase with a Balloon:

  • New Vehicles will be supplied with the first 12 Months Road Tax & First Registration fee.(Payable by customer within invoiced value for the vehicle)

  • Used Vehicles will not be supplied with 12 months road tax (This would be payable by customer directly with the DVLA).

Business & Personal Contract Hire:

  • These vehicles will be supplied with the first 12 Months Road Tax & First Registration fee

  • The road tax for the proceeding contract term would be included within the monthly vehicle rental payment. This is generally processed by the contract hire finance company.

  • Some Opperating Lease (Contract Hire Agreements) only include the first 12 Month Road Tax. The proceeding yearly Road Tax would be invoiced directly from the finance company to the customer.

 

Finance Lease:

  • All New vehicles will be supplied with the First 12 Months Road Tax & First Registration fee

  • All Used vehicles will not be supplied with Road Tax. It would be the customers responsibility to Tax the vehicle to ensure the vehicle is road legal prior to the collection.
  • The proceeding contract years road tax will not be included in the contract and would be the responsibility of the customer.

Are the vehicles that New Vehicle Solutions supply imports?:

No - New Vehicle Solutions supplying New Cars and Commercial Vehicles that are UK sourced with manufacturer warranty. Our vehicles will be delivered direct to you using the manufacturer and dealer networks. This would also be the case for Used Vehicles.

If you have any further questions please feel free to contact us on 01656 654 321 or email: Sales@newvehiclesolutions.co.uk

Last Updated: 23/03/2020












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