Truck Finance

Contract Hire

How Contract Hire Works

At the start of your agreement you decide on the length of your agreement and predicted annual mileage, and pay an advance rental upfront.

Your monthly rentals exclude VAT and are based on the difference between the initial value of the vehicle and it’s projected residual value at the end of your agreement. Therefore, only a proportion of the vehicle’s value is repaid, keeping your monthly rentals lower.

You can also include the cost of the vehicles maintenance into your monthly rentals, choosing from one of our three maintenance options: Service only, Full Maintenance or Full Maintenance with Tyres. This means the costs are fixed over the term of your agreement, allowing you to budget easier and reduce any unexpected costs. If you prefer, you can choose for a no maintenance option instead.

At the end of your agreement:

We’ll arrange the collection of your vehicle.

You simply hand back your vehicle, subject to it being in line with our Vehicle Return Standards as vehicle condition, excess mileage and other charges may be payable.

Finance Lease

How Finance Lease works:

• At the start of your agreement you decide on the length of your agreement and pay an advance rental up
  front. These rentals are based on the vehicles value over the term of your agreement.
• Alternatively you could opt for a lump sum payment. This option features a large payment that is due at
  the end of the agreement. This will reduce your regular payments.
• Throughout your agreement you make regular instalments until your agreement comes to an end.

At the end of your agreement you have three options to choose from:

• Extend your agreement: continue to use the vehicle for a further agreed period and pay a ‘peppercorn’
  payment equal to one month’s rental per annum.
• Sell your vehicle to an independent third party. We will invoice the third party and return 95% of the
  sales proceeds to you.
• Return the vehicle and we will sell it on your behalf and will return 95% of the proceeds to you (minus
  any reseller fees).

Hire Purchase

How Hire Purchase works:

• At the start of your agreement you decide on the amount you would like to put down as a deposit, based on
  a minimum of the VAT of the vehicle, on your chosen vehicle and agree the term of your agreement.
• Throughout the term of your agreement you pay the regular instalments over the agreed term until the
  remainder of its value is repaid.

At the end of your agreement:

• Pay your final payment and Purchase Activation Fee, and you’ll own your vehicle outright.

Operating Lease

How Operating Lease works:

• At the start of your agreement you decide on the length of your agreement and predicted annual mileage,
  and pay an advance rental upfront.
• Your monthly rentals exclude VAT and are based on the difference between the initial value of the vehicle
  and its projected residual value at the end of your agreement. Therefore only a proportion of the
  vehicle’s value is repaid, keeping your monthly rentals lower.

At the end of your agreement:

• We’ll arrange the collection of your vehicle.
• You simply hand back your vehicle subject to it being inline with our Vehicle Return Standards as vehicle condition, excess mileage and other charges may be payable.