VAUXHALL handed over the keys to a gleaming new Vivaro to the winner of a nationwide competition, run in conjunction with TradePoint, B&Q’s trade arm and provider of building supplies.
The brand new Vivaro Sportive L1H1 2700 1.6 CDTi van was presented to lucky winner David Mellers from Tollbar Services Limited, an independent digital media installer, who relies on a reliable vehicle to service clients right across Europe.
Made by Vauxhall in Luton at the UK’s only volume van plant, the Vivaro was given away as part of a promotional launch campaign which saw Vauxhall team up with TradePoint to display the new van at selected TradePoint outlets up and down the country.
Buying a van on hire purchase
Although David was lucky enough to drive away in a new Vivaro for free, it you wanted to get a new Vauxhall Vivaro there are several options when it comes to pay for a new vehicle including hire purchase, otherwise known as HP.
The low down on hire purchase
- A very simple method of finance;
- You can obtain capital allowances from the date of delivery;
- It does not suffer a partial lease rental tax disallowance
- It’s an on balance sheet form of finance;
- There is no guarantee of the value of the vehicle at the end of the agreement;
- All the VAT element of the purchase must be paid up front
If buying on HP then Vauxhall dealers have a scheme called 4x4x4x4, detailed below.
Hire purchase is a term everyone is familiar with and basically means you agree to buy the vehicle over a set period – normally three years – by paying agreed monthly instalments as though you were hiring it, although you are also buying it.
When you make the last payment the van is yours to carry on using or sell on. Stating the obvious, you are responsible for its maintenance as well as insurance and road tax (VED) while making the hire purchase payments.
The tax man treats hire purchase as a deferred purchase agreement rather than a hire agreement so for corporation tax purposes the van is deemed to belong to you from delivery, so you can claim capital allowances as if you had paid for it in full on delivery.
The Vauxhall 4x4x4x4 offer on its commercial vehicles range gives four years’ 0% APR Representative finance, four years’ free servicing up to 80,000 miles, four years’ roadside assistance and four years’ warranty (up to 120,000 miles on Vivaro).