Share me. Choosing the right fleet option for your company
|
|
- Rosanna Phillips
- 8 years ago
- Views:
Transcription
1 Light Commercial Vehicle Acquisition Hire or Buy? Choosing the right fleet option for your company 1
2 Contents Hiring or buying LCVs. Why does it matter? Fleet ownership the benefits Fleet ownership the drawbacks Fleet rental the benefits Fleet rental the drawbacks Making a choice: benefits vs cost About Burnt Tree
3 Hiring or buying LCVs. Why does it matter? If your business operates light commercial goods vehicles and you are due to update or expand your fleet, it s only one of many spending decisions that you may be in the process of making. For example, if you re a mid-sized firm of electrical contractors, a cost-effective and efficient fleet is critical. But so are electrical materials, tools, training and many other business essentials. But sourcing the right kind of fleet can be complex because the headline costs rarely tell the whole story. On paper, it often seems cheaper to buy the vehicles than it is to hire them, but you re rarely comparing like with like. If you buy, you have to factor in extras like maintenance and downtime and if you re leasing them, you need to work out how much inclusive services like maintenance and roadside repair are worth to your business. When you compare the pros and cons of renting and buying, some of the key areas to consider are: Capital and cash flow Will I lock up capital in vehicles, and how will that affect my cash flow? Ongoing costs How much will servicing, MOTs, tyres and other maintenance work cost and how much will it add up to? How much productivity will I lose if a vehicle is out of action, and how much will it cost me to find a replacement vehicle? 3
4 Disposal costs What return will I get on used vehicles, and how much will it cost me to replace them? Company image How much will it cost to maintain a newer fleet than my competitors? How old will vehicles be when it makes financial sense to replace them? Legal compliance How much money and administration time will I need to spend on compliance measures such as EC Whole Vehicle Type Approval and European Emissions Standards? Choice and modifications What choice of vehicles do I have, and how much will it cost to modify them with any equipment such as tail lifts or beacons? Flexibility How do I cover fluctuations in demand? Can I source vehicles at short notice, or will I need to allow some vehicles to stand idle? When you look at vehicle costs from these perspectives, you soon discover that there s more than meets the eye when comparing leasing with vehicle purchase. Whether it makes better business sense to buy or rent depends on your day-to-day vehicle needs, but this short guide is here to help you understand the benefits and drawbacks of both. Whether it makes better business sense to buy or rent depends on your day-to-day vehicle needs 4
5 Fleet ownership - the benefits Buying your own fleet can bring undoubted advantages to the right kinds of business. If any of the following would help your company, it s possible fleet ownership is for you. But be sure to weigh these benefits (and the drawbacks in the next section) against other fleet acquisition options. Unused capital If your business has spare capital, you can invest it directly in LCVs without having to pay interest on a bank loan or overdraft. Preferential credit lines If you can arrange loans or an overdraft at competitive rate s, buying vehicles may be a relatively economic option. Tax benefits Vehicle ownership entitles you to claim a write-down allowance of up to 100% in the case of electric LCVs. However, this can be as low as 10% per annum if CO2 emissions are more than 160g/km Unlimited mileage If you own a vehicle, there is no restriction on the annual mileage it can cover or penalty charges for exceeding a certain mileage (but remember high mileages can seriously reduce resale value). Used vehicle options You can also choose to buy secondhand vehicles, reducing your initial capital costs. However, beware of additional maintenance costs, lost productivity if vehicles fail and a lower likelihood of securing a loan for this kind of purchase plus negligible disposal values. 5
6 Specialist use If you have highly specialist modifications needed for your LCVs, you may find it easier to fulfil them if you buy your vehicles. However, note that some rental companies do offer quite high levels of modification, sometimes at no extra charge. Choice of suppliers and vehicles If you buy, you have a greater choice of suppliers and may be able to mix-and-match more vehicle brands and specifications. If we return to the example of our mid-sized electrical company, the main benefits to buying are likely to be the tax benefits and choice of suppliers mileage and specialist modifications are much less likely to be an issue. On the other hand, a civil engineering firm might need a wide range of specialist modifications to its LCVs and prefer to source them from a range of suppliers that are experienced in adapting the vehicles it needs. The trick is to weigh the benefits of buying with the disadvantages. Turn the page to learn more about these. Whether it makes better business sense to buy or rent depends on your day-to-day vehicle needs 6
7 Fleet ownership - the drawbacks The biggest disadvantages to fleet ownership concern hidden costs and loss of productivity. If any of the following would cause problems for your business, you would be wise to at least consider fleet rental as an option. Locked-in capital Even if you have spare capital, there may be more productive ways for your business to put it to work especially as the resale value of LCVs tends to be much lower than the price you pay for them. If you need to release capital quickly, you could also face a cash flow crisis if it s tied up in vehicles. Interest payments If you fund vehicle purchase via a loan or overdraft, interest payments will push up the overall cost of ownership. If you choose a variable rate loan, interest payments could also increase, sending the total cost up further. Overdrafts can also be called in at short notice, so be wary of this form of funding. Responsibility for maintenance If you own your vehicles, you take full responsibility for servicing, tyres, and other work needed to keep LCVs on the road. If you don t have in-house maintenance professionals, this can be expensive and keep your vehicles off the road for days at a time meaning you ll need to source another vehicle to keep your staff working. Duty of care to your drivers is wholly your responsibility, along with any accidents resulting from poorly-maintained vehicles, up to and including corporate manslaughter. 7
8 Separate breakdown cover You will need to arrange and pay for your own breakdown recovery service. Low disposal prices There is no guaranteed return on the sale of your used vehicles, and you may have to pay transaction costs that further push up the lifetime ownership cost of each vehicle. If you don t replace your vehicles regularly, maintenance costs can grow as mileage increases and shabby, older vehicles can start to give a poor professional image. The positives of vehicle ownership are counterbalanced by cost, productivity and administration considerations Meeting fluctuating demand f your business expands quickly, or you have seasonal fluctuations in the amount of work your business does, your need for vehicles will not remain constant. If you buy your vehicles, you ll either have LCVs sitting idle or have to buy or rent more to meet spikes in demand. Legal compliance and admin If you specify your own vehicles, you bear responsibility for ensuring they meet EC Whole Vehicle Type approval and emissions requirements, as well as ongoing legal requirements such as MoTs. As you can see, the positives of vehicle ownership are counterbalanced by cost, productivity and administration considerations. While some major companies with large fleets might find it economical to run their own vehicle management and maintenance departments, these burdens can cause problems for mid-sized businesses in particular. The alternative, of course, is for these businesses to hire their fleets. But do the benefits really make rental an attractive option? Once again, it depends on your business requirements. Turn to the next section to find out whether renting can bring something valuable to your company s efficiency and bottom line. 8
9 Fleet rental - the benefits Many businesses have retained a vehicle purchase model as they ve grown, often without checking whether hiring LCV fleets could bring them cost and efficiency benefits. If your company is one of them, it s worth knowing that different commercial fleet operators offer a variety of rental options. The three most common are: Contract hire You lease vehicles for a fixed term, in return for an agreed monthly cost. The advantage with this arrangement is that you usually benefit from the lowest per-vehicle rental prices a company can offer. Flexible hire A smaller number of companies will also offer you flexible rental options. It is usually more expensive than contract hire, but you can return vehicles without penalty at short notice ideal if you have fluctuating vehicle needs, or short-to-medium term projects that need LCVs. Daily hire Similar to non-commercial vehicle hire, you can lease a vehicle for a day, week, month or other period to meet a short-term need. Many companies choose contract or flexible hire for the bulk of their fleet requirements because it offers them a range of commercial benefits. These can include: Fixed monthly costs Your cash flow is more predictable because you pay a fixed monthly cost for rental, which includes maintenance, repairs, roadside assistance and replacement LCVs in the event of breakdown. Off balance sheet leasing The vehicles remain on the lease provider s balance sheet, not yours. No depreciation costs Similarly, the lease company bears the cost of depreciation, not you. Tax deductions LCV rental is fully deductible for tax purposes, regardless of the CO2 emissions of the vehicles. 9
10 New vehicles Hire vehicles are usually new, or at least under 3 years old helping your company maintain a professional and favourable impression. Bespoke vehicles Many companies will supply vehicles in your livery or with equipment like beacons and tail lifts at significantly lower cost than you could achieve by organising it yourself. No maintenance or reliability hassles Maintenance and service intervals are taken care of, right through to free tyre replacement when needed. As a result, your fleet is kept reliable and in good condition, at no additional cost. Less downtime Some vehicle providers have mobile repair and maintenance teams, meaning you don t have to return a vehicle for scheduled work. Many provide you with a free courtesy vehicle if one of your LCVs is out of action for any length of time. Less admin time You spend less time sourcing and disposing of vehicles, saving on administration costs. Fewer legal worries Vehicle providers take care of compliance issues such as emissions test, MoTs and EC Whole Vehicle Type approval. They are also responsible for legal claims that arise out of maintenance issues. Solving other vehicle requirements LCV lease companies frequently offer company cars, HGVs and specialist vehicles making it simple to source them at the same time, often on favourable terms. On the face of it, vehicle rental is ideal for businesses that want predictable LCV costs, minimal administration worries, less downtime and high quality vehicles. Mix-and-matching contract hire, flexible hire and daily hire also allows you to cover fluctuations in your LCV requirements, simply and cost effectively. But what about the disadvantages? Are there factors that can make LCV hire less suitable for your business? There are. Turn to the next section to learn about them. 10
11 Fleet rental - the drawbacks Fleet rental isn t without its drawbacks, but some of them are specific to particular forms of leasing. As you ll see, you can mitigate some of the disadvantages by opting for a different form of leasing arrangement. Termination penalties If you opt for contract hire, you can face expensive termination penalties if you end the contract early. You can overcome this problem by choosing flexible hire, which is more expensive but allows you to end the agreement without notice. Limited mileage Both contract and flexible hire will impose limits on your mileage, and you will face penalties or additional charges if you exceed it. However, businesses like the electrical contractor we cited earlier in this guide are unlikely to cover anything like the mileage needed to turn this into a pressing issue. No asset at the end of contract When the hire contract ends, you no longer have an asset in the form of a used vehicle although this can be a benefit if the value of your vehicles has significantly depreciated. Highly specialised vehicles If you have complex bespoke requirements, leasing companies may not be able to provide the specialist vehicles you need. However, many are able to offer significant modifications, sometimes at no additional cost so if in doubt, ask. As we ve covered the pros and cons of both LCV purchase and hire, there has been one factor still to be discussed price. To make your final decision, you need to know which is ultimately cheaper hire or rental. In the next section we take a closer look at the figures. 11
12 Making a choice: benefits vs cost As you ve read this guide, you will have been struck by the large number of potential benefits that leasing your LCV fleet can bring from all-inclusive maintenance to freeing up your admin time as you leave compliance issues to your rental company. For both buying and renting vehicles, the attractiveness of the benefits and the severity of the drawbacks very much depends on your business model. If you re a company that needs high mileage, ultra specialist vehicles, then the advantages of buying will probably outweigh those of leasing. On the other hand, if you re a mid-sized contractor, leasing would appear to offer benefits that simplify the way you source vehicles and leave you free to concentrate your energies on growing your business. But what about cost? Even if renting is a more attractive option, will it cost you more than buying your vehicles? The answer depends on the type of hire you choose. However, research by Professor Peter Cooke, Professor of Automotive Management at the University of Buckingham has found that contract hire can be significantly cheaper than vehicle purchase see the table overleaf. contract hire can be significantly cheaper than vehicle purchase 12
13 2 Years 3 Years 4 Years Outright Purchase Full Maintenance Contract Hire 10,000 mpa ,863 20,000 mpa 11,617 9,872 30,000 mpa 12,702 10,833 10,000 mpa 12,923 9,254 20,000 mpa 14,043 11,299 30,000 mpa 15,376 13,254 10,000 mpa 14,957 11,516 20,000 mpa 16,457 12,729 30,000 mpa 17,624 14,261 Figures represent net present cost using 15% def rate Comparable outright purchase and full-maintenance contract hire Contract hire includes service, replacement vehicle, RFT and service admin Outright purchase includes above plus allowance for administration and used vehicle prices at CAP plus 550 Capital cost of unit on the road 19,295 including first years s road fund tax 137 These calculations have been made using the concept of discounted cash flow, which projects the value of business assets according to how their cash value changes over a period of time. The concept of DCF essentially works on the basis that the value of money decreases over time. It s rather like being given 100 to buy something and the option of paying for it now or in 3 years time. If you pay for it now, the cost in real terms is 100. If you defer payment for 3 years the value of 100 will have fallen so the cost in real terms will also have fallen. If you were to take your 100 and invest it something with growth potential for 3 years, you could even end up with considerably more than the 100 when it s time to pay. 13
14 So, taking it back to our scenario, if your money is locked into an asset such as a vehicle, there s nothing you can do about that loss of value which will be compounded by the depreciation of your asset. However, by renting you can invest the capital you would have used for the vehicle and increase its value. Professor Cooke uses a discounted cash flow (DCF) rate of 15% to make his comparison. Given the current economic climate this is arguably too generous but even at a more realistic figure of 10%, contract hire and longterm rental still out-perform purchase. There s also no allowance for the cost of borrowing in the purchase figures, which further enhances the argument for hire. The key to making your own price comparison is to look in detail at the hire options open to you, the benefits they bring and the ways you could invest your money if you chose not to tie it up in a depreciating asset. In our next guide, Options for Vehicle Hire, we ll be looking at the four principle routes of hiring LCV vehicles, giving you the information you need to make an informed decision. They are: LCV finance leasing LCV flexible hire LCV contract hire If you would like a copy of this guide sent direct to your inbox, sign up today. 14
15 About Burnt Tree As one of the largest commercial fleet operators in the UK, we ve got a lot of miles under our belt. Our national network of strategically placed locations means you can find us throughout the UK. When you choose Burnt Tree, you get the country s leading independent commercial vehicle rental and contract hire company on your side. Whether you need a fleet of vans for five years, a specialist vehicle built to your exact specifications or a car for a single day, we work hard to be the rental partner you can rely on. From the moment you call us, visit us or land on our website, you ll enjoy the best service we can give, tailored exactly to your business needs. You ll benefit from the expertise of a knowledgeable and friendly team, get help with choosing the right vehicles, and experience fast, efficient maintenance that keeps you on the road and cuts your downtime to a minimum. Our clients range from individuals and small private businesses to major blue chip organisations and local authorities across England, Scotland and Wales. So, whatever your needs, choose Burnt Tree for the right vehicles, the best service and a team that s dedicated to keeping you and your business on the move. 15
Share me. A Guide to Fleet Management
A Guide to Fleet Management for Small Businesses 1 Contents Introduction 3 The true cost of vehicle downtime 4 The benefits of leasing and fleet management 5 Why Buy? - The official verdict 6 Fleet options
More informationArval Broker Services. Product Information
Arval Broker Services Product Information Just Drive www.arval.co.uk Contract hire With contract hire from Arval your customers will benefit from new cars and LCVs without having to find the initial capital
More informationTHE BMW GROUP GUIDE TO FLEET FUNDING.
THE BMW GROUP GUIDE TO FLEET FUNDING. The way vehicles are funded in a fleet context varies widely and there are two main methods for acquiring vehicles for your fleet: Outright purchase over a fixed period
More informationoptimizer Key Facts An introduction to the benefits available to you through the optimizer Salary Sacrifice Car Scheme.
optimizer Key Facts An introduction to the benefits available to you through the optimizer Salary Sacrifice Car Scheme. What is optimizer? Optimizer is a new kind of car scheme that gives you access to
More informationCHARITY FLEETCARE THE CHARITY CAR EXPERTS. Keeping your employees mobile and keeping your costs down
CHARITY FLEETCARE THE CHARITY CAR EXPERTS BETTER VALUE. MORE FLEXIBILITY. GREATER EFFICIENCY. That s what Charity Fleetcare s unique new fleet car service offers for your charity. We know you want to make
More informationPutting together your perfect fleet. Your guide to our products and services.
Putting together your perfect fleet. Your guide to our products and services. Welcome. Contents. Welcome to Lex Autolease. Welcome... 2 Our strategy for success... 4 Our products and services... 6 Funding
More informationThe Audi Guide to contract hire Getting the most from your leasing provider
The Audi Guide to contract hire Getting the most from your leasing provider Audi Fleet supports Business July 2012 : why choose contract hire? Contract hire is the most popular funding method in the fleet
More informationLease Car Scheme Managers Guide
NHS Fleet Lease Car Scheme Managers Guide The administration of the scheme is outsourced to a specialist management company (Knowles Associates) who provides quotations, scheme management, driver support
More informationFleet Alliance is a leading UK fleet management provider offering contract hire, leasing and a complete range of fleet solutions products.
The all-round fleet solution Fleet Audit CONSULTANCY Funding Products Green Fleet & Whole Life Cost Competitive Tendering Flexi Hire Fleet Management & Support Accident Management FLEET SOLUTIONS Driver
More informationThe sacrifice is achieved by varying your terms and conditions of employment for the term which you choose to receive a company car.
Employee Frequently Asked Questions General 1 What is Colleague Cars? Colleague Cars is a unique scheme open to all employees whereby you exchange some of your normal salary in return for a company car.
More informationFunding your company cars Options and operations explained
Funding your cars Options and operations explained April 2015 Introduction purchase or lease? There are two main routes to vehicle acquisition: you either own the vehicle outright or hire the use of it
More informationWELL-MANAGED LIFT TRUCK FLEETS INCREASE PRODUCTIVITY, REDUCE COSTS
WELL-MANAGED LIFT TRUCK FLEETS INCREASE PRODUCTIVITY, REDUCE COSTS By Edgar Warriner Director National & Major Accounts Services The Raymond Corporation Table of Contents PREVENT EXPENSIVE BREAKDOWNS...2
More informationYOUR ONE STOP VEHICLE MANAGEMENT SOLUTION. WWW.MINTAUTOMOTIVEGROUP.CO.UK
YOUR ONE STOP VEHICLE MANAGEMENT SOLUTION. WWW.MINTAUTOMOTIVEGROUP.CO.UK 2 ABOUT MINT AUTOMOTIVE GROUP WELCOME TO MINT AUTOMOTIVE Mint Automotive Group is an independently run vehicle management company,
More informationGuide to buying a car
Where to start when buying a car? Before you get behind the wheel, it s worth taking time to research your options. From choosing between new and used cars to finding the right make and model, test driving,
More informationLeasing Versus Ownership Choose between flexibility and risk.
A Berkshire Hathaway Company Leasing Versus Ownership Choose between flexibility and risk. CONSERVE CAPITAL CONTROL FINANCE COSTS IMPROVE YOU BALANCE SHEET AVOID RESIDUAL RISK BOOST PRODUCTIVIT RESPOND
More informationReduce your fleet costs in nine simple steps
Reduce your fleet costs in nine simple steps 75% of fleets expect their costs to rise in 2010. 1 Running a cost efficient fleet is therefore more important than ever in order to keep your expenditure under
More informationBUSINESS CAR & VAN RENTAL The cost effective rental management solution
BUSINESS CAR & VAN RENTAL The cost effective rental management solution WE ANSWER YOUR BUSINESS NEEDS GOT A QUESTION ABOUT BUSINESS CAR AND VAN RENTAL? How can we reduce the costs associated with our fleet?
More informationSince 1988 we ve supplied over 40,000 vehicles to business fleets of all sizes
Since 1988 we ve supplied over 40,000 vehicles to business fleets of all sizes Contents Part of the JCT600 Group our roots are strong Total vehicle leasing solutions you can trust JCT600 Vehicle Leasing
More informationWe are the chosen providers of vehicle finance for the Mitsubishi dealer network, with a range of hire purchase and contract hire products
Your new VEHICLE Your new car Find the right finance product for you with a range of options from Finance and Contract Motoring. Drive away in your new or used vehicle with a finance arrangement that is
More informationVehicle Leasing & Fleet Management
Vehicle Leasing & Fleet Management Choosing a vehicle leasing provider can be a challenge, though with the right partner, a specialist service to business fleets can result in significant cost savings
More informationMercedes-Benz Finance Your finance options guide.
Mercedes-Benz Finance Your finance options guide. S & B Commercials Welham Green Stansted West Thurrock T: 01707 261111 E: enquiry@sbcommercials.co.uk W: www.sbcommercials.co.uk Choosing Mercedes-Benz
More informationFlexi Hire. Accident. Management. Fleet. Insurance
CONSULTANCY The all-round fleet solution Funding Products Green Fleet & Whole Life Cost Fleet Audit Competitive Tendering Fleet Management & Support Flexi Hire Accident Management FLE Fleet Insurance E
More informationLeasing vs. Buying A NEW CAR BROUGHT TO YOU BY
Leasing vs. Buying A NEW CAR BROUGHT TO YOU BY THE SAME BUT DIFFERENT Even though these cars are identical, the methods to pay for them are very different The basics of LEASING Leasing is sort of like
More informationWho better to finance your car than the people who built it?
>> Financing your smart Who better to finance your car than the people who built it? SF67/01/14 smart Mercedes-Benz Financial s UK Limited. A Daimler Company. Tongwell, Milton Keynes MK15 8BA, United Kingdom.
More informationNovated Lease Explained
Novated Lease Explained At nlc, we provide you with the easiest, lowest-cost way to own and run the car of your choice. We take care of all your automotive needs, including car purchase, finance, insurance,
More informationToyota Finance for Business
Toyota Finance for Business Welcome 2 Why choose Toyota Financial Services? 3 1 Toyota Contract Hire 4 AccessToyota 7 Other financial products 9 Protecting your car 12 Personal Tax for Company Car Drivers
More informationlargeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904
largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 CONTENTS What is equity release?... 3 How much money could I raise through an equity release?... 4 What
More informationKey Solutions Thought Leadership
GE Capital How to Cut fleet costs A practical guide to looking at ways to reduce fleet costs Key Solutions Thought Leadership Welcome 2012 has brought renewed impetus to the subject of cutting fleet costs.
More informationYour guide to the power of asset finance
Your guide to the power of asset finance Unlocking the value within your business Molten Man 2.0 by Shane Butler, Winner of the EEF Photography Competition 23, sponsored by Lombard. Asset finance is a
More informationsalary sacrifice schemes for cars: decision maker s guide
salary sacrifice schemes for cars: decision maker s guide The decision maker s guide Introduction Salary have attracted increased levels of interest from fleets and the media over the past couple of years.
More informationTHE EASIEST WAY TO AN IDEAL SOLUTION FOR YOUR VEHICLE FLEET
ACCIDENT MANAGEMENT COMPARISON OF QUOTES CHANGE OF VEHICLE CHANGE TYRES FIND THE RIGHT CAR MAKE ORGANISE A REPLACEMENT VEHICLE COSTS FOR MANAGEMENT POLICY MANAGEMENT BUDGETING TAKE OUT INSURANCE LEASE
More informationCompany Car Tax 2014/2015
Company Car Tax 2014/2015 Produced for Zenith by Income Tax Rates 2014/15 2013/14 Rate Band Band % 20 0 31,865 0 32,010 40 31,866 150,000 32,011 150,000 45 150,000+ 150,000+ Personal Allowances 2014/15
More informationBusiness Critical Fleet Management. The specialist service for fleets that are core to business.
Business Critical Fleet Management. The specialist service for fleets that are core to business. Introduction Introducing Business Critical Fleet Management. Procuring, maintaining and managing your business
More information10 TIPS. for better Fleet Management WHITE PAPER. Who should read this paper? CEOs CFOs COOs Fleet managers Finance executives
WHITE PAPER 10 TIPS for better Fleet Management by Valério Marques CEO, Frotcom International Who should read this paper? CEOs CFOs COOs Fleet managers Finance executives This paper shows that with a few
More informationFIAT YOUR FINANCE OPTIONS
FIAT YOUR FINANCE OPTIONS FIAT INSURANCE So that you can enjoy your car without worrying about all the what ifs we offer a broad and cost effective range of products such as Combined GAP and RTI Insurance,
More informationThe five-step plan to a better retirement. A step by step guide to organising your finances
The five-step plan to a better retirement A step by step guide to organising your finances This is one of the biggest financial decisions you ll make so it s important to get it right. At Fidelity we strongly
More informationAvis Business Solutions
Wherever your business takes you Discover the complete company package from the experts in car rental. Click here to continue Avis Business Solutions wherever your business takes you. Business car rental
More informationNISSAN FINANCE You re in the driving seat
NISSAN FINANCE You re in the driving seat HERE S ONE LESS THING TO WORRY ABOUT We know that no two Nissan drivers are the same A sporty convertible isn t going to suit the needs of a growing family and
More informationBuying a Car. A Car Means Convenience. Which Car is Right for You?
Buying a Car A Car Means Convenience It s Wednesday morning and you are sleeping soundly, dreaming about that Hawaiian vacation you d like to take. Suddenly you hear, instead of ocean waves, a loud buzz.
More informationHow To Get A Car Insurance Policy In The Uk
GAP insurance covers the scenario that GAP Insurance (or Guaranteed Asset Protection Insurance) Your vehicle is labelled a total write off or stolen and unrecoverable by your motor insurer; and Your motor
More informationTHE TAXATION OF COMPANY CARS. Calculating the cash equivalent
THE TAXATION OF COMPANY CARS Company cars remain a popular employment-related benefit despite the fact that income tax charges on them are generally high. The benefit of having a company car available
More informationBuy or Lease a Car. published by AAA Fair Credit Foundation
Buy or Lease a Car published by AAA Fair Credit Foundation Buy or Lease a Car 1. What is Leasing?................................................................. 2 2. The Pros and Cons of Leasing and
More informationOnline Accounting Software FUNDING OPTIONS GUIDE
Online Accounting Software FUNDING OPTIONS GUIDE Why you need to think about funding Every business needs money. Starting a business presents new challenges, many of which will require some financial outlay.
More informationManaging Grey Fleet travel. A management briefing from Alphabet.
Managing Grey Fleet travel. A management briefing from Alphabet. A growing number of organisations have introduced professional procedures and policies to manage their employees use of private cars for
More informationWhy Cash-Flow Positive Property Is Essential To Building Your Property Portfolio
Why Cash-Flow Positive Property Is Essential To Building Your Property Portfolio Contents 1. Letter from the CEO: 3 2. Introduction 4 3. What are cash flow positive properties? 5 4. Why it s important
More informationBT Finance BT Finance
Financial Solutions that are right for your business now and in the future BT Finance BT Finance Financial solutions that are right for your business now and in the future. Every day thousands of UK business
More informationIncome protection solutions
For financial adviser use only Income protection solutions Tailored to your client and their budget What is income protection? Income Protection can be an everyday essential that works when your client
More informationFrequently Ask Questions
Frequently Ask Questions This document has been prepared to answer questions that you are likely to have on the new SalarySacrifice4Cars scheme ( the car scheme ). It is set out in 3 sections The car scheme
More informationHOME LOAN HOUSE. Are you a homeowner looking for a loan? If so, and you live in the UK, Home Loan House can help.
1 Home loans + uk, house loan HOME LOAN HOUSE Are you a homeowner looking for a loan? If so, and you live in the UK, Home Loan House can help. We specialise in providing home loans for the things you desire
More informationMercedes-Benz Business Solutions. Built around your business.
Mercedes-Benz Business Solutions. Built around your business. Business Solutions. Designed with you in mind. We understand that your business is unique and has its own needs, which is why we have designed
More informationATTRACT MOTIVATE RETAIN
ATTRACT MOTIVATE RETAIN A Salary Sacrifice Car Scheme white paper from the UK s leading fleet services company. A LEX AUTOLEASE WHITE PAPER SALARY SACRIFICE CAR SCHEME 1 A CAR FOR ALL EMPLOYEES As a method
More informationEquipment Leasing Purchasing Guide
Equipment Leasing Purchasing Guide Introduction to the Equipment Leasing Buying Process What s inside: Trends Terms Leasing Types Choosing a Dealer Equipment leasing has become an increasingly popular
More informationChecks and Balances TV: America s #1 Source for Balanced Financial Advice
THE TRUTH ABOUT FIXED RATE ANNUITIES Annuities are like magnets. Most people seem to be either attracted to them, or repelled. As you sit down to read this, where do you stand? In my experience, it s rare
More informationHow To Hire A Car From Tota Financial Services
Efficient cars, efficient finance and perfect business sense. Fleet solutions to get your business moving. Toyota continues to push technology forward for today s constantly evolving world. Our long-standing
More informationWealthStyles. Cornerstone of a solid financial plan Wise debt management
WealthStyles Cornerstone of a solid financial plan Wise debt management Two years ago, David moved to a new city and put quite a few purchases on his credit card as he furnished a new home. Then, unexpectedly,
More informationK.4 Using Credit Wisely After Bankruptcy
Appx. K.4 K.4 Using Credit Wisely After Bankruptcy Beware of Credit Offers Aimed at Recent Bankruptcy Filers Disguised Reaffirmation Agreement Carefully read any credit card or other credit offer from
More informationIntroduction. How company cars are taxed. Calculating the cash equivalent
Introduction Company cars remain a popular employment-related benefit despite the generally high income tax charges on them. The tax charge on company cars cars provided to employees by their employers
More informationBuy-to-let guide about tax
Perrys Chartered Accountants Buy-to-let guide about tax Introduction As a buy-to-let landlord it is important you know about tax and how it affects you and your investment. This is why Perrys Chartered
More informationCOLLEAGUE CARS FAQ S. What are the benefits of Colleague Cars? What is included in the package? How much can I save?
What are the benefits of Colleague Cars? What is included in the package? How much can I save? COLLEAGUE CARS FAQ S Can I arrange to test drive a car? What makes and models are available? A brief insight
More informationKey Solutions Thought Leadership
GE Capital Fleet Services Company Car Trends Your essential guide to the latest developments in the fleet industry Key Solutions Thought Leadership Welcome Every quarter since 2004, GE Capital, Fleet Services
More informationLEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages
LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.
More informationYour retirement could have even more going for it
Your retirement could have even more going for it A straightforward guide to equity release For no obligation advice: call 0800 015 0993 www.justretirementsolutions.com Contents Imagine what you could
More informationTHE TRADE ASSOCIATION FOR PROFESSIONAL PLUMBING & HEATING BUSINESSES
ASSOCIATION OF PLUMBING & HEATING CONTRACTORS SEE INSIDE FOR MORE THE TRADE ASSOCIATION FOR PROFESSIONAL PLUMBING & HEATING BUSINESSES REPRESENTING YOUR INTERESTS FINDING YOU CUSTOMERS KEEPING YOU INFORMED
More informationGUIDE TO RETIREMENT PLANNING FINANCIAL GUIDE. Making the most of the new pension rules to enjoy freedom and choice in your retirement
GUIDE TO RETIREMENT PLANNING Making the most of the new pension rules to enjoy freedom and choice in your retirement FINANCIAL GUIDE WELCOME Making the most of the new pension rules to enjoy freedom and
More information5.2 BUDGETING; CASH FLOW FORECASTS. Introduction To Budgets And Cash Flow Forecasts. Cash Flow Forecasts. Budget And Cash Flow Exercises
52 FUNDING 5 BUDGETING; CASH FLOW FORECASTS Introduction To Budgets And Cash Flow Forecasts Cash Flow Forecasts Budget And Cash Flow Exercises Cash Flow Exercises P 168 INTRODUCTION TO BUDGETS AND CASH
More informationGET THE CAR YOU LOVE THE SMART AND EASY WAY
GET THE CAR YOU LOVE THE SMART AND EASY WAY What is Novated Leasing? NOVATED LEASING MADE EASY A Novated Lease is a three way agreement between you, Custom Fleet and your employer. It can potentially save
More informationConstruction Economics & Finance. Module 4 Lecture-1
Construction Economics & Finance Module 4 Lecture-1 Equipment costs:- For construction firms, it is important to accurately estimate the equipment cost as part of the total cost of the construction project.
More informationSHARE ME. HOW TO PROTECT YOUR BUSINESS FROM VAN THEFT A guide for SMEs
HOW TO PROTECT YOUR BUSINESS FROM VAN THEFT A guide for SMEs 1 CONTENTS Do you know which vehicle is the most frequently stolen in the UK? Are my vans at risk? Four minutes and it s gone-how thieves get
More informationEQUIPMENT FINANCE SOLUTIONS
EQUIPMENT FINANCE SOLUTIONS OUR FINANCE PRODUCTS Financing of equipment is increasingly in demand. Typically equipment depreciates quite quickly; as a result many businesses will seek to spread the cost
More informationThe decision to buy, hire purchase or lease an asset will generally depend on the financing available to your business.
Buy, HP or Lease? The decision to buy, hire purchase or lease an asset will generally depend on the financing available to your business. There are different treatments for tax and accounting purposes,
More informationFrequently Asked Questions by Employees. Fuel Efficient Car Lease Scheme. An employee benefit offered by the University of Birmingham
Frequently Asked Questions by Employees Fuel Efficient Car Lease Scheme An employee benefit offered by the University of Birmingham If you have any further questions or would prefer to talk to someone,
More informationYOUR NEW MOTORCYCLE. We ll help you find the right finance deal for you with a range of finance options from Black Horse.
YOUR NEW MOTORCYCLE We ll help you find the right finance deal for you with a range of finance options from Black Horse. Ride away on your new or used motorcycle with a finance arrangement that suits your
More informationHow To Choose Between Buying Or Leasing Business Equipment
IS BUYING OR LEASING EQUIPMENT 816-888-5303 www.capfusion.com 1 Table of contents Introduction 3 Leasing Equipment 4 Lower Initial Expenses 4 Tax Deductions 4 Flexibility 4 Avoiding Obsolescence 4 Drawbacks
More informationFinancing your business. Overdraft Line of Credit Credit Cards Business Loan Equipment Finance Specialised Finance
Financing your business Overdraft Line of Credit Credit Cards Business Loan Equipment Finance Specialised Finance At Bank of Melbourne, we know that no two businesses are the same. So our banking begins
More informationBusiness Vehicle Finance from Ford. A guide to Business Vehicle Finance and company vehicle taxation
Business Vehicle Finance from Ford A guide to Business Vehicle Finance and company vehicle taxation 2 3 Business Vehicle Finance from Ford A guide to company vehicle taxation and business finance. Vehicle
More informationVehicle Replacement & Fleet Utilisation Policy To be considered as part of the overarching Fleet Strategy. Submitted: 29 September 2013
Vehicle Replacement & Fleet Utilisation Policy To be considered as part of the overarching Fleet Strategy Submitted: 29 September 2013 To be Reviewed: September 2015 VERSION: AUTHOR: OWNER: v2.3 Barry
More informationA BANK LOAN WITHOUT THE HASSLE
1 A BANK LOAN WITHOUT THE HASSLE 2 A BANK LOAN WITHOUT THE HASSLE ARF Financial has built relationships with banks around the country, so you can acquire a bank loan fast without collateral and with limited
More informationUSING CREDIT WISELY AFTER BANKRUPTCY
USING CREDIT WISELY AFTER BANKRUPTCY Copyright April 2011, Legal Aid Society of Hawai`i All rights reserved. These materials may be reproduced. However, under no circumstances are persons receiving these
More informationIntroduction 4. What is Refinancing? 5. Changing Home Loans 5 Changing Needs 6 Identifying Better Opportunities 6 Additional Home Loan Features 6
Contents Introduction 4 What is Refinancing? 5 Changing Home Loans 5 Changing Needs 6 Identifying Better Opportunities 6 Additional Home Loan Features 6 What are the Advantages of Refinancing? 7 1. Consolidating
More informationCredit Crunching. a student guide to credit 2010/11
Credit Crunching a student guide to credit 2010/11 Introduction Whether you are a student or a graduate it is important to understand all the different types of credit out there in the market place. Credit
More informationInstructor Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum
Loan to Own Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum TABLE OF CONTENTS Page Module Overview 1 Purpose 1 Objectives 1 Time 1 Materials and Equipment Needed to Present
More informationIncome protection solutions
For UK financial advisers only Income protection solutions Tailored to your client and their budget What is income protection? Income Protection can be an everyday essential that works when your client
More informationA GUIDE TO SALARY SMART FOR EMPLOYERS 25+
A GUIDE TO SALARY SMART FOR EMPLOYERS 25+ Introducing Salary Smart Salary Smart is an arrangement where an employee gives up part of their future earnings or bonus in exchange for a non-cash benefit. As
More informationEASIFLEET NOVATED LEASING EASIER THAN EVER. easifleet.com.au
EASIFLEET NOVATED LEASING EASIER THAN EVER easifleet.com.au REDUCED INCOME TAX NO GST ON THE PURCHASE PRICE FLEET DISCOUNTED RUNNING COSTS NOVATED LEASING An easifleet novated lease makes vehicle ownership
More informationCENTRAL CREDIT UNION FINANCIAL PLANNING INSTITUTE. Guide To. Buying A Home
CENTRAL CREDIT UNION FINANCIAL PLANNING INSTITUTE Guide To Buying A Home CENTRAL CREDIT UNION FINANCIAL PLANNING INSTITUTE Guide To Buying A Home As an attorney who practices real estate law, I have worked
More informationDRIVING WITH CONFIDENCE
MAKING SENSE OF CAR INSURANCE 1 DRIVING WITH CONFIDENCE MAKING SENSE OF CAR INSURANCE 2007 1 MAKING SENSE OF CAR INSURANCE MAKING SENSE OF CAR INSURANCE 2 WHY IT IS IMPORTANT TO HAVE INSURANCE If you cause
More informationPutting your dreams within reach. Tailored financial solutions for aviation
Putting your dreams within reach Tailored financial solutions for aviation The highest level of personal attention throughout the acquisition process and beyond Perhaps you ve got your eye on a state-of-the-art
More informationCash fleet,grey fleet
GE Capital Cash fleet,grey fleet An employer s guide to managing the compliance of employee-owned cars used for business Key Solutions Thought Leadership Welcome By some estimates, nearly half of the business
More informationChapter 3 How to analyse a balance sheet
Chapter 3 How to analyse a balance sheet In the previous chapter we looked at how a balance sheet was put together and the numbers that go into it. In this chapter, we are going to take all those numbers
More informationA guide to equity release
Enjoying financial freedom in retirement: Enjoying financial freedom in retirement: A guide to equity release A guide to equity release Many people see equity release as a way to ensure a comfortable retirement.
More informationA Guide to Student Loan Consolidation
A Guide to Student Loan Consolidation Introduction If you are reading this, you probably have student loan repayment fast approaching. Fortunately, you have options for repaying your student loans. One
More informationA Guide to Novated Leases. www.sgfleet.com
A Guide to Novated Leases www.sgfleet.com Improve the Weekly Budget A holiday, new clothes or just a bit more money in the wallet; whatever the reason, everyone should consider the potential improvements
More informationICAEW on Personal Finance
ICAEW on Personal Finance Living away from home for the first time Jack decided he didn t want to go to university after finishing his A-levels. Instead he applied for a Higher Apprenticeship within a
More informationDerbyshire Healthcare NHS Foundation Trust. Lease Car Scheme
Derbyshire Healthcare NHS Foundation Trust Lease Car Scheme October 2012-1 - 1. INTRODUCTION Derbyshire Healthcare Foundation Trust has agreed to introduce a Lease Car Scheme which enables employees who
More informationYour guide to Volkswagen Financial Services
Your guide to Volkswagen Financial Services 1 About Volkswagen Financial Services Volkswagen Financial Services Product Benefits Personal Finance Consumer Loans 12 Novated Lease / Salary Packaging 14 Business
More informationINTRODUCTION WHAT IS THE LEASE CAR SCHEME? WHO CAN JOIN THE SCHEME?
Introduction What is the lease car scheme? Who can join the scheme? How much will it cost? Is it cheaper than owning my own car? Can I choose any make of car? Who is insured to drive the car? What is included
More informationProblems paying your mortgage
Problems paying your mortgage What you need to do now and how to get back on track Steps to take now What your options are Get free impartial advice The Money Advice Service is independent and set up by
More informationLEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages
LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.
More informationA Guide to Releasing Capital from your Home
Advice for older people A Guide to Releasing Capital from your Home Advice provided by Advice for older people FirstStop Advice brings together the expertise of some of the most trusted and respected organisations
More informationTHE EIGHT LEVERS OF OPTIMISATION HOW TO DRIVE DOWN YOUR WHOLE LIFE COST
THE EIGHT LEVERS OF OPTIMISATION HOW TO DRIVE DOWN YOUR WHOLE LIFE COST INTRODUCTION Running a fleet of vehicles is one of the biggest costs in your entire company. So any improvement in how you finance
More information