Westaway Finance & Insurance

At Westaway we offer a full selection of finance packages. Our sales advisors are fully qualified to advise you on all the various ways of funding your next vehicle. This page describes the different options you have when purchasing your vehicle from ourselves

Hire Purchase / Lease Purchase

Is an option for both individuals and companies that want eventual ownership of the vehicle. A funding agreement where the individual or company acquires ownership once all the payments have been made. Part of the capital cost of the vehicle may be deferred into a ‘balloon’ payment at the end of the agreement. As with Finance Lease the customer assumes the residual risk

Personal Contract Purchase / Personal Contract Hire

For private individuals who may wish to opt out of the company car scheme, therefore saving Benefit in kind tax. Both Personal Contract Hire and Personal Contract Plan ensures all the advantages of a company vehicle, no depreciation risk, road tax for duration of contract (Personal Contract Hire only), the option of full maintenance, without paying company car tax.

Contract Hire

Is a popular choice for VAT registered companies that want minimum outlay and maximum control of costs, especially when the maintenance and relief vehicle options are included. With this VAT beneficial financing package, one regular rental payment covers all risks including depreciation and disposal for an agreed period of time and mileage. Road fund licence is included and roadside rescue, maintenance and relief vehicle provisions are options that can be added and charged to the rental payment.

Contract Purchase

For companies who would like the option to purchase their vehicles, but don’t want any depreciation risks. The customer acquires the vehicle by paying fixed monthly instalments and a final balloon payment. We guarantee the minimum future value of the vehicle will equal the final payment. Therefore simply hand the vehicle back or pay the balloon payment to retain ownership.

Finance Lease

Ideal for VAT registered companies who want to handle the administration of their vehicles and have the asset shown on their balance sheet. A VAT beneficial finance option where the hirer can choose to pay the entire cost over the agreed lease period, or pay lower monthly rentals with a final balloon payment based on the anticipated resale value of the vehicle. Unlike Contract Purchase the customer assumes the residual value risk.

Used Vehicle Stock Updates

Sign up to receive updates on the latest stock available

Live Chat