Vehicle funding options
The type of funding you choose can make a significant difference to your overall costs, your risk and flexibility. Therefore, it is crucial to understand everything properly, before making your decision.
Factors to consider:
- Availability of finance
- Tax implications
- Balance sheet implications
When deciding how to fund and manage their minibus, more and more operators are turning to leasing rather than purchasing the vehicles themselves, for reasons include:
- Vehicle leasing can be a cheaper and easier alternative that doesn't burden your business with rapidly depreciating assets.
- It releases capital, improves cashflow and provides you with more confidence when forecasting vehicle expenditure.
- With the optional maintenance package, it releases you from the time-consuming burden of maintenance, repairs, tyres, accident management and vehicle disposal.
Types of funding
Contract Hire is our most popular funding product, an operating lease providing a simple, cost effective and reliable option. It is certainly the best value and hence the most popular. However, we appreciate that minibus operators have varying requirements and so we offer a range of funding options to suit your business needs.