Finance Options

Business Contract Hire

Contract Hire is a popular choice amongst companies seeking to remove assets from their balance sheet, eliminate the financial risk associated with disposing of their vehicles and benefit from the convenience of a fixed monthly cost.

Contract Hire also allows companies to reclaim 50% of the VAT or 100% of the VAT if the vehicle is a pool car or a commercial vehicle.

Contract Hire is based on a term and agreed mileage with the vehicle returning to Baileys Vehicle Leasing at the end of the agreement.   

There is a wide choice of financial arrangements available to companies when sourcing a vehicle, but the continued growth in the Contract Hire market suggests that this funding method will remain the preferred choice for most companies in the future.

Finance Lease

Finance Lease is a fixed term hire agreement for companies who want to handle the administration of their vehicles and have the asset shown on the balance sheet.   

The hirer can choose to pay the entire cost over the agreed lease period plus interest charges or pay lower monthly payments with a “Balloon” or deferred payment.

You cannot acquire ownership of the goods and they must be sold to a third party at the end of the agreement.

Lease Purchase

Lease Purchase is an agreement designed to offer dedicated vehicle funding where the customer wishes to purchase the vehicle.

The customer is fully liable for the full value of the vehicle and has no option to return the vehicle to the contract provider at the end of the agreement.

Vehicles are registered in the name of the customer, and where this is a company, the vehicle will appear on the balance sheet, and Writing Down allowance will be available.

Personal Contract Purchase (PCP) for the Private Individual

Personal Contract Purchase is a conditional sale agreement covered under the consumer credit act which allows you the option to purchase the vehicle, or to simply hand it back to the contract provider at the end of the contract term (subject to settlement of any excess mileage and unfair 'wear and tear'

Personal Contract Purchase can provide hassle free motoring for the personal users and removes the tax liabilty, benefit in kind tax for company car drivers who need or want to drive a more expensive or high CO2 emission rated vehicle.

At the end of the agreed term you will need to decide whether you wish to complete the purchase of your vehicle, or return it to the lease company and take out a new contract on a new vehicle.

Baileys EVR Scheme for Prestige Vehicle's

Available as a personal purchase or personal lease scheme, if you are financing a car valued over £25,000, Baileys can offer this specialist finance for you enabling you to take advantage of a lower variable rate of interest, balanced payments (you are paying off capital from month 1) and zero interest penalties.   

For the ultimate in flexibility please call for details.