TRADES and small businesses can now take advantage of van leasing from Vauxhall dealers.
Vauxhall Finance has launched Business Contract Hire (BCH) on Vauxhall commercial vehicles.
Contract hire is a form of leasing that allows you to drive a van for a set period of time and miles before returning it to the dealer. You can then decide to upgrade your van or choose a new van.
With contract hire you never own the van but the rentals provide access to a new van at a low monthly rental amount without having capital tied up in a van.
Return conditions are present in contract hire – and you should be aware of these before commencing a rental agreement – and mileage penalties exist if you go over the agreed limit.
For VAT registered van operators, it’s highly tax efficient as 100% of the VAT can be reclaimed in most cases.
Vauxhall Finance said customers could pay an advanced rental payment to reduce their monthly payments, or to split the total rental cost evenly throughout the contract term, typically between 24 – 48 months, with no deposit required.
Managing Director of Vauxhall Finance, Simon Kington says:
“This product launch is a further step for Vauxhall Finance to become a full captive for Vauxhall, which is part of our new Strategic Plan for profitable and sustainable growth. Increasing our product portfolio means we are able to deliver more of the finance products that Vauxhall customer’s want, which will improve the experience at Vauxhall Retailers.”
To provide an all-in package, Vauxhall Finance said that Vauxhall Business Contract Hire (BCH) customers would also be given the option to include a Service, Maintenance and Repair (SMR) agreement as part of their contract.
Vauxhall Finance is the automotive finance captive organisation of Vauxhall, supported by Groupe PSA and BNP Paribas.