Vehicle Finance Options

A range of funding options to suit your business

• Contract hire
• Personal contract purchase
• Hire purchase
• Finance lease

Meeting your needs

At Bank of Scotland Corporate, we believe in building strong relationships with our customers. The key to this is our willingness to listen to your specific needs - and then create the finance option that meets them. Here are just some of the finance options available to you.

Contract hire (provided by Lex)

Make budgeting simple with fixed monthly costs over the life of your contract. With payments generally lower than the equivalent hire purchase deal, you might also wish to add on one of our maintenance and servicing contracts. Because the asset remains off your balance sheet, your cash flow isn't compromised and you avoid any depreciation costs.

Employee schemes - personal contract purchase (PCP) (provided by Lex)

Working with a firm of leading providers in this field, our PCP option gives you and your employees the choice of virtually any make and model of car at a fixed montly cost. We can put together a wide range of affordable finance packages and even allow you to part-exhange your current car (or choose from a range of flexible deposits). If you're opting-out of a company car scheme, you could avoid paying company car tax.

Hire purchase (provided by Bank of Scotland)

With hire purchase, we fund the purchase and you repay us over a term that suits your business cash flow - a term that can be between one and seven years. At the end of that period, you own the asset. You pay a deposit and you can choose either a fixed or variable interest rate for your repayments*. You are free to select your own supplier and negotiate the best possible deal and because the asset is deemed to belong to you, you can claim the capital allowances.

Finance lease

With finance lease, we pay for the asset (thereby owning it), and lease it to you in return for rental payments. At the end of our agreement, anywhere between one and seven years, you have two options: you can either extend the rental period, paying a nominal rent, or sell the asset and retain a portion of the proceeds. Although you are unable to claim capital allowances on the asset, you can normally offset the rentals against taxable profits, in line with your accounting depreciation.

Find out more

To discuss the vehicle finance option that suits you best, please call 0800 169 4689 (Mon - Fri 9am - 5pm)† or email us.

*VAT on the full purchase price of any equipment is payable upfront.