Contract Purchase

Contract Purchase is the smart choice for financing more expensive vehicles on your fleet and for companies who are restricted in the amount of VAT they can reclaim.

How does it work?

Staffcars supply you with a vehicle for a set period and you pay a fixed amount each month.  At the end of the contract you have the option of either owning the vehicle by making a balloon payment or simply returning it with nothing more to pay.  If you return it and the leasing company sell it for more than the balloon payment amount, you receive an element of the profits.  If the vehicle is sold for less, the finance company absorb the loss.

Benefits

1) Tax advantages of ownership throughout the contract, such as claiming capital allowances

2) The option to take full legal ownership at the end of the contract

3) Low initial payment, typically equivalent to three monthly finance payments

4) Removes financial risks associated with vehicle disposal if you have the vehicle back

5) Maintenance cover and full breakdown and recovery service and relief vehicle can be included in the fixed monthly rate

6) Fixed monthly outgoings for easier budgeting

7) Flexible contracts to suit changing circumstances in your business

Contract Purchase offers all the operational, managerial and administrative benefits of Contract Hire, together with the tax-efficient benefits of ownership.