Land Rover Business Hire Purchase
Ideal for a customer who desires outright ownership of their car
Hire Purchase (HP) allows you to spread the cost of your new or used Land Rover with fixed monthly payments. At the end of the agreement, you own your vehicle.
Why is this plan for me?
I want to own my Land Rover at the end of my finance agreement.
I want to know exactly how much I have to pay each month.
I have a deposit to put down and want to choose how much I have to pay.
How does it work?
Choose the car (new or used) you like
Choose the most suitable repayment period between 12 months and 60 months
You agree on a deposit and monthly repayment budget
At the end of the agreement, as long as all the payments have been made, the car is yours to keep
What are the benefits?
At the end of the agreement your business owns the car
By spending less cash up front this helps the business cash flow, or enables you to use the money to invest elsewhere
Fixed monthly payments make budgeting easier
The interest you pay is tax deductible
Because the car is an asset on your balance sheet, you can write down a proportion of it's value against your business profits
What else to I need to know?
- Ideal if:
You want to own your Land Rover outright at the end of your agreement
You like to budget and know the exact payment amount each month
- Choose any new or used Land Rover up to ten years’ old
- Fixed regular repayments, giving you peace of mind
- You have no protection against depreciation as a result of an unexpected fall in the value of the vehicle
- You do not own the vehicle until you have made all the payments including interest after which the title of the vehicle will be transferred into your name
- Your vehicle is at risk of repossession if you do not maintain contractual repayments You must have fully comprehensive insurance
Contract Purchase
The most straightforward method of purchase. Ideal for a customer who desires outright ownership of their car and probably changes their car at intervals of greater than 48 months.
Contract Hire
The finance company reclaims the VAT on the car you drive and this saving is passed on to you with reduced rentals. There are also other tax efficiencies available.