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Contract Purchase

Contract Purchase

Contract purchase has similar operational advantages to contract hire with regards to fixed payments and flexible terms. Vehicles bought on a contract purchase agreement can be shown as assets as the company will have ultimate ownership of the vehicle.

Companies who choose the contract purchase vehicle funding option do not pay VAT on monthly rentals but write off the cost of the vehicle against Corporation Tax in the same way as cash purchase.

Benefits Of Contract Purchase

  • Accurate monthly budgeting
  • Improved cash flow
  • Minimum capital expenditure 
  • Fixed interest rate   
  • Capital allowances available   
  • Ownership of vehicle (Optional)  
  • No depreciation risk
  • No vehicle disposal problems
  • Reduced administration 
  • On-going advise and support
  • Road fund licence provided (Optional)
  • Breakdown rescue cover (Optional)
  • Fixed charge maintenance (Optional)
  • VAT chargeable on services (Optional)
  • VAT recoverable on services (Optional)

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