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Commercial Vehicle Leasing Options

March 27, 2023/0 Comments/in Blog, Vehicles/by Jess Wells-Flint

Purchasing a commercial vehicle outright can be a significant expense, and it makes financial sense to spread the cost of your purchase over time by financing instead. Not to mention, when you finance your commercial vehicle, particular agreement types with give you access to tax benefits not available when paying cash upfront.

Furthermore, choosing to finance your commercial vehicle frees up more cash in the short term, allowing you additional flexibility with other projects or investments. All things considered, financing is an invaluable financial tool that allows businesses to make larger purchases or investments without taking too much from their bottom line upfront.

So, let’s explore your options when it comes to financing your commercial vehicles…

Finance Lease

The idea of a finance lease for commercial vehicles is relatively simple and straightforward. The finance company buys the vehicle for the business, who then pays a fixed monthly fee to use it over an agreed term.

This type of leasing has no large initial outlay, and there are generous tax allowances available. Thus making this kind of leasing ideal if you’re looking to conserve capital expenditure or manage cashflow better.

Benefits of this agreement type include:

  • VAT is spread throughout agreement term
  • Choice of fixed rentals
  • Rentals are tax deductible
  • Improved cash flow

Hire Purchase

Hire purchase is a viable option for those looking to purchase commercial vehicles. The agreement outlines that you, as the buyer, would pay an initial deposit and then agree to make monthly payments for the remainder of the overall cost. This initial payment reduces the amount of credit needed from the finance company, leading to lower interest rates over the life of the agreement.

Unlike an operating lease, hire purchase allows you to own the vehicle at the end of its payments, but gives you rights to use it before that point. This can be a great option for businesses who need more flexible repayment plans and don’t want to tie up large amounts of capital all at once.

Benefits of this agreement type include:

  • Ownership at end of agreement term
  • Choice of fixed rentals
  • Improved cash flow
  • Interest on rentals is tax deductible

Sale & Leaseback

Sale & leaseback is an attractive alternative financing option for commercial vehicle owners. It involves selling a vehicle that you own and leasing it back from the buyer. Many businesses go down this finance route to maximize cash flow and preserve their cash to be used elsewhere in the business.

However, please bear in mind that sale & leaseback is only eligible for assets purchased within the last 6 months.

Benefits of this agreement type include:

  • Release capital against existing vehicles (purchased within the last 6 months)
  • Choice of fixed rentals
  • Instant cash injection that will improve cash flow
Contact Us

Here at WestWon we have an expert fleet finance team that can source a finance agreement best suited to your business. With our industry leading rates and attentive customer service, rest assured you are in good hands. Give us a call today on 01494 611 456, or send an email to [email protected]

See what commercial vehicles we can finance here.

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Welcoming onboard the new additions to our fleet division!

October 17, 2022/0 Comments/in Blog, Vehicles/by Jess Wells-Flint

Over the past few months, we have been working on expanding our fleet division, and with that we have welcomed onboard two new territory account managers!

Meet Doyle

Meet Doyle Winstanley-Jones, Territory Account Manager for our fleet division in the Midlands area. Doyle started off as a Sales Executive back in 2012. Therefore he has been in the motor industry for over 10 years now! Throughout his career he has progressed through the ranks to General Sales Manager and has worked with a number of different brands.

When not spending quality time with his Wife and Son Doyle enjoys playing the occasional round of golf with friends. Not to mention watching his beloved Liverpool FC! Whilst he also likens himself to a bit of a chef.

After having a successful career within the motor trade, Doyle has joined WestWon to focus on growing our Fleet Division for The Midlands. Working with partners, Doyle supports their requests for finance whilst delivering an outstanding service.

If you would like to discuss with Doyle how we can support you please contact him on 07712 357 675, or email him on [email protected]

doyle

Meet Lloyd

Meet Lloyd French. Lloyd has been in the Automotive industry for eight years. He started out as in 2014 as a trainee for a main dealer. Lloyd took to his role quickly and not long after that he was promoted to the role of senior sales executive specialising in all aspects of finance. He then moved on to become a leasing manager for a large independent used car dealership. After enjoying a successful career in sales and leasing, Lloyd decided it was time for a new challenge with us here at WestWon.

Lloyd has a young family at home, welcoming his daughter in 2021. Outside of work, Lloyd enjoys spending time with his friends and family. As well as going to the local boxing club, and writing screenplays.

If you would like to discuss with Lloyd how we can support you please contact him on 07512 304 703 or email him on [email protected].

Lloyd French

https://westwon.co.uk/wp-content/uploads/2022/10/3-min.png 630 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2022-10-17 09:03:102022-10-14 10:03:26Welcoming onboard the new additions to our fleet division!

How can finance help you manage your business’ vehicles?

June 27, 2022/0 Comments/in Blog, Leasing Guides, Vehicles/by Jess Wells-Flint

There are a few different options that allow us to help finance to manage your business’ vehicles here at WestWon. These include hire purchase, finance lease and sale & leaseback. If you would like to read more about these then see below. We can also finance electric vehicles (as well as their charging points) as we know that the future of fleet is evolving fast.

How can finance help you manage your business’ vehicles?

Hire Purchase – this involves financing a vehicle over a term (usually 1-5 years) with fixed monthly payments. These fixed rates ensure they stay the same throughout the agreement term. In terms of budget, this is the best option available to you, because you will know throughout the agreement exactly what you will be paying and when. However, it does depend on the cash flow of your business. Once you have paid the final instalment, and the terms and conditions have been met, the vehicle becomes yours.

Finance Lease – this is a tax efficient way to lease your vehicle. It’s a very efficient type of lease due to its flexibility and its benefit of not having to use other capital resources. The rentals are also fully tax deductible. When the lease agreement has ended, you have two options to choose from. You can either extend the agreement, however this will include a nominal secondary rental fee. Or you can profit from most of the net income from the vehicle.

Sale & Leaseback – there’s less risk with a sale & leaseback as well as it not affecting invoice discounts either. However, a sale & leaseback can only be completed on the basis the vehicle is refunded within 3 months of purchase. This is a crucial point to remember. What’s also different with sale & leaseback, we can lease the vehicle back to you. However, you will still have full use of the vehicle. Monthly payments are all tax deductible.

How can WestWon help?

Here at WestWon we offer a range of finance options. Leasing and finance can offer your business several benefits, and at WestWon with our 5* customer service, industry leading rates and dedicated account manager, we hope to be your first port of call.

Leasing and finance allows you to keep funds in your business and protect your cash flow. There is also no need to use up an existing bank facility and you can always have the latest equipment by implementing a recycling strategy.

There are also tax benefits, as when using a lease rental agreement, 100% of your rental is deductible against your company’s corporation tax. VAT is also paid in the rental rather than in full and upfront. There is also the question of why you are paying for the equipment in advance. You wouldn’t do implement this for your employees, so why do it for your vehicles and other business equipment?

Other assets we can finance

Here at WestWon we can offer finance options for several assets. All of which can be found on our assets we finance page. This includes assets like computers, software, furniture and fit outs, business loans, dentistry, and EV charging points.

In fact, not long ago, we wrote a blog on electric vehicle charging points which we now finance. To read that blog, click here. Alternatively, if you would like any more information on the assets we finance above, or any other services we provide, please reach out using our contact details below.

Contact Us

If you would like more information on how finance can help you manage your business’ vehicles, or any other finance needs you may have, then please don’t hesitate to contact us. You can email us on [email protected], or alternatively you can call us on 01494 611 456. You can also see more over on our LinkedIn page.

https://westwon.co.uk/wp-content/uploads/2022/05/shutterstock_1757074547-1030x687-1.jpg 687 1030 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2022-06-27 09:00:472023-02-21 17:26:37How can finance help you manage your business’ vehicles?

Scaffolding Wagon Finance – Vehicles!

October 29, 2018/0 Comments/in Blog, Scaffolding, Vehicles/by Jess Wells-Flint

Scaffolding Wagon Finance Here at WestWon, we are seasoned professionals at arranging finance on all types of scaffolding trucks and vehicles. We have financed everything from a Citroen Berlingo van to a 21t Dropside Scaffold Truck. Running a scaffolding wagon has never been more expensive. There has been a lot of focus on ensuring your […]

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How do you value a vehicle leasing company?

December 8, 2017/0 Comments/in Blog, Vehicles/by Jess Wells-Flint

How do you value a vehicle leasing company? When asking “How do you value a vehicle leasing broker”.. you will get a standard response, “Your vehicle leasing company is worth what someone is willing to pay for it.” Ok, now we have this comment out of the way which doesn’t really help your case, let’s […]

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Scaffold Lorry – Arranging Finance for a New or Used Scaffolding Lorry

April 10, 2017/0 Comments/in Blog, Scaffolding, Vehicles/by Jess Wells-Flint
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https://westwon.co.uk/wp-content/uploads/2017/04/autos-2060420_1920.jpg 1279 1920 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2017-04-10 08:15:402018-09-07 11:28:58Scaffold Lorry – Arranging Finance for a New or Used Scaffolding Lorry

Citroen Berlingo L1 EnterpriseVehicle: Hp cost £460.86/Monthly

November 12, 2015/0 Comments/in Deals, Other Equipment Leasing, Vehicles/by Jess Wells-Flint

WestWon provided a company based in Burnham with a hire purchase agreement for 1 Citroen Berlingo L1 Enterprise via a WestWon Partner who supplies Citroen vehicles.

Capital Cost: £40,000.00 ex. VAT

Lease Rental: £460.86 ex. VAT

Payment Frequency: Monthly
Lease Period: 4 Years

ManufacturerModelDescriptionPart No.Quantity
Citroen Berlingo L1 Enterprise AX15 WHE1
Citroen Berlingo L1 Enterprise AX15 WHM1
https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png 0 0 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2015-11-12 16:22:462016-07-20 03:16:26Citroen Berlingo L1 EnterpriseVehicle: Hp cost £460.86/Monthly

Mercedes C250 AMG Sport : HP Cost £398.95/Monthly

November 12, 2015/0 Comments/in Deals, Other Equipment Leasing, Vehicles/by Jess Wells-Flint

WestWon provided a company based in Chichester with a hire purchase agreement for 1 Mercedes C250 CDI AMG Sport via a WestWon Partner who supplies Mercedes vehicles.

Capital Cost: £12,189.39 ex. VAT

Lease Rental: £398.95 ex. VAT

Payment Frequency: Monthly
Lease Period: 3 Years

ManufacturerModelDescriptionPart No.Quantity
MercedesC250 CDIAMG Sport + 5 door auto estate1
https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png 0 0 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2015-11-12 16:20:592016-07-20 03:16:47Mercedes C250 AMG Sport : HP Cost £398.95/Monthly

Mercedes CLK 280 Equipment: Lease cost £374.95/Monthly

October 7, 2015/0 Comments/in Deals, Other Equipment Leasing, Vehicles/by Jess Wells-Flint

WestWon provided a company based in London with a lease agreement for 1 x Mercedes CLK 280 via a WestWon Partner who supplies vehicles.

Capital Cost: £11,900.00 ex. VAT

Lease Rental: £374.95 ex. VAT

Payment Frequency: Monthly
Lease Period: 3 Years

ManufacturerModelDescriptionPart No.Quantity
Mercedes CLK 2801 x
https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png 0 0 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2015-10-07 15:15:372016-07-20 03:17:54Mercedes CLK 280 Equipment: Lease cost £374.95/Monthly

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The Financial Conduct Authority (FCA) regulates financial services in the UK and you can check this on the Consumer Credit Register by visiting the FCA’s website here or by contacting the FCA on 0800 111 6768. WestWon Limited is a credit broker and not a lender. WestWon companies deals with a range of lenders. All WestWon companies hold a current Data Protection Licence and are registered for VAT. These details, together with our policy on Treating Customers Fairly, Complaints Policy and address details are held under our Get in Touch page.
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