1 – Straight Sale – Just as you have always done, write a cheque !! – You own the vehicle !!
2 – Hire Purchase – Finance the vehicle over 2/3 or 4 years, with a full payout agreement, which means that you have NO final payment to make – ie The vehicle belongs to YOU after all those payments, NOT SOMEONE ELSE !!
3 – Contract Hire – A full on package which can include full maintenance, which enables accurate forward budgeting, improved cash flow, some of the VAT in the rental is reclaimable and, because your company doesnt own the vehicle, certain tax advantages are available.
4 – Short term rental – Need a vehicle for a shorter period of time or for an employee on a very short contract ? Why buy it and be stuck with a vehicle that the company doesnt need ? Rent it !!