Funding Methods
Funding Your Vehicle
At Westaway Ford we offer a full selection of finance packages. Our sales staff are fully qualified to advise you on all the various ways of funding your vehicle. This page describes the different options you have when purchasing your vehicle. If there is anything you would like described in more detail please do not hesitate to contact us on:
Please telephone 08715 566676
Hire Purchase / Lease Purchase
For 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 Hire / Personal Contract Purchase
For private individuals who wish to opt out of the company car scheme, therefore saving BIK 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
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
